Egypt’s Ecoscale program has supported 29 startups working in the green economy, circular economy and sustainable waste management, providing total funding of around EGP 5.3M across 10 governorates.
Implemented by Jسر incubator, part of Misr El Kheir Foundation, the program supported startups through business acceleration and funding tracks. According to the announcement, participating companies recorded an average threefold increase in production and helped create around 60 permanent jobs, as well as 300 temporary and indirect opportunities.
The program received 74 applications for its funding track and 83 for training and acceleration. Ten startups were selected for funding, while 19 joined the acceleration track, which included technical training, mentoring, in-kind support and connections with experts and partners.
The supported ventures include businesses converting agricultural and organic waste into fertilisers and bio-based products, producing alternative fuel from waste, recycling resources, and using agricultural technology and artificial intelligence to reduce water and energy consumption.
Ecoscale was delivered in cooperation with Egypt’s National Solid Waste Management Programme, with support from the European Union’s EU Green initiative and the German Agency for International Cooperation, GIZ.
Source: Alborsa
