FutureTECH by Raya, the innovation arm of Raya Holding, has successfully concluded Egypt’s first accelerator program dedicated to electric vehicle (EV) startups. The initiative, run in partnership with Raya Auto, GIZ, and Entlaq, aims to energize the local electric mobility sector by backing early-stage companies.
Quick Facts
- Egypt’s first specialized EV accelerator program.
- 6 startups graduated from the cohort.
- 2 winners awarded a trip to China.
An Intensive Four-Month Program
The accelerator selected six promising startups from a pool of over 30 applicants, all of which had developed a minimum viable product (MVP) and showed strong growth potential. Over four months, the cohort underwent an intensive program focused on refining business models, validating technology, and preparing for market entry and investment.
The program included over 60 hours of training and mentorship across 16 specialized sessions, providing hands-on support in technical development and business strategy.
Bridging Local Talent with Global Expertise
A key feature of the accelerator was its blend of international and industry-specific exposure. Startups participated in technical sessions led by EV experts from Germany and gained direct operational insights through exclusive site visits to the Raya Auto factory and the XPENG showroom and service center.
The program culminated in a Demo Day where the startups pitched their solutions to an audience of investors, corporate leaders, and key figures from the innovation ecosystem, signaling the readiness of local innovators to contribute to Egypt’s growing EV market.
Winners Head to China’s EV Hub
At the event’s conclusion, two standout startups, Neo Kozmo and Watt Route, were selected for a fully-sponsored field trip to China. Through Raya Auto, the founders will connect with Raya’s global partners in one of the world’s most advanced EV markets. The trip is designed to expose them to leading industry players, cutting-edge technologies, and advanced manufacturing systems, with the goal of transferring that knowledge back to the Egyptian market.
Building an Integrated EV Ecosystem
Mohamed El-Naggar, CEO of Raya Auto, commented on the company’s broader vision. “At Raya Auto, our mission goes beyond just bringing electric vehicles to the market; we are building an integrated ecosystem for sustainable mobility in Egypt,” he said. “As the first authorized EV distributor and the exclusive agent for XPENG, we have a responsibility to support the next generation of innovation. Our participation in the EV accelerator reflects our commitment to empowering new innovators to shape the future of mobility.”
A Data-Driven Push for Clean Tech
The program’s design was rooted in market analysis, as explained by Aya Ismail, Co-founder and Program Manager at Entlaq. “What we are building at Entlaq is more than just a startup accelerator; we offer a data-driven model that connects our analytical reports to tangible, measurable impact,” Ismail stated. “This program was a direct result of recommendations from our 2025 Clean Technology report. While Egypt’s EV sector has recorded an annual growth of 19.5%, it still represents less than 1% of the total licensed vehicle fleet. This disparity confirmed the urgent need for a calculated intervention to support innovation.”
She added, “This model places innovators side-by-side with industry experts, giving them real-world industrial validation and opening doors for investment and strategic integration, moving beyond traditional training programs.”
About FutureTECH by Raya
FutureTECH by Raya is the corporate innovation platform of Raya Holding. It focuses on enabling innovation by connecting startups with real market opportunities, supported by the active role of Raya’s subsidiaries like Raya Auto in fostering the growth of key technology sectors in Egypt and the region.
Source: FollowICT
