Egyptian food company Domty is launching a business accelerator focused on the food industry in partnership with Startup Egypt, led by Dr. Maged Ghoneima.
Mohamed El-Damati, Domty’s CEO, said the program will support startups and small businesses that have moved beyond the idea stage and already have products in the market. The accelerator will target companies working in manufacturing, logistics, distribution, supply chains and dietary supplements.
According to the announcement, support will extend beyond financing to include administrative and technical assistance, product development and potential commercial partnerships with Domty. The company could act as a customer or strategic partner, and may eventually invest directly in promising ventures through defined investment processes.
El-Damati said the initiative responds to a funding gap in Egypt’s startup market, where investment activity has slowed partly because of delays in developing the legal and regulatory frameworks governing startup funding and listings.
Venture capital investment in Egypt reached about $327M in the first half of this year, he said, adding that the figure does not reflect the market’s full potential.
Domty believes large companies can help close the gap by providing operational expertise, production capabilities and customer access. The accelerator is intended to connect foodtech startups with market needs while creating potential routes to commercial deals and investment.
Source: Fintech Gate
