Egyptian artificial intelligence company Meska AI has announced the launch of a new investment arm, Meska Ventures, with the ambitious goal of building a local ecosystem modeled after the world-renowned American accelerator, Y Combinator. The announcement was made by co-founder Omar Al-Monir during a major AI event in Egypt.
By the Numbers
The new venture is launching with significant momentum and clear, ambitious goals:
- $150,000+: The initial investment made in its first portfolio company, Dhaher AI.
- 50+ Ideas: The number of innovative ideas received during Meska AI’s recent event.
- 22 Projects: The number of ventures that were pitched to a committee of experts and investors.
- 1 Million People: Meska AI’s goal is to empower over one million people in the MENA region with AI skills by 2026.
A New Model for AI Investment in Egypt
Meska Ventures aims to create a different kind of investment ecosystem for AI, one that provides not just capital but also crucial experience, training, and support to help local and regional startups grow. The ultimate goal is to establish a sustainable environment that fosters the growth of startups in vital sectors such as digital health, insurance, and media. Al-Monir emphasized that this launch represents just the “first nucleus” of much larger plans.
First Investment in a Specialized Search Engine
As its first move, Meska Ventures has invested over
$150,000 in Dhaher AI, a new startup developing a specialized alternative search engine to offer users more focused tools beyond Google. The company is described as the first of its kind in the Middle East and Africa, reflecting Meska Ventures’ focus on backing globally-minded technological innovations.
A Strategy Built on Education and Community
The launch is part of Meska AI’s broader, multi-faceted strategy to place Egypt at the heart of the global AI map. This strategy is built on four key pillars: education, empowerment, investment, and building tech communities. Meska AI has already trained over a thousand individuals through its in-person and online programs and plans to expand into new specializations like cybersecurity. The company aims to address a key regional challenge: while 84% of MENA companies consider AI a priority, only 12% have taken concrete steps to implement it. Meska intends to change this by empowering over a million people with practical AI skills by 2026.
Source: Aktsadna
