Vodafone Ventures’ Fund, Vodafone Egypt’s investment arm, intends to allure a numbers of foreign institutions and funds to pump fresh investments for entrepreneurship projects in Egypt during the current year.
Mohammad Al-Ayouti, Business Development Senior Manager at Vodafone Ventures fund said he will boost the numbers of firms , stressing that he invested around 7 firms for entrepreneurship tillnow.
He added that the fund is one of the most active entities supporting entrepreneurship in Egypt and works in cooperation with all funds and entities existing on top masts Ventures, noting that the fund is working on the development of emerging companies in favor of the economy.
He emphasized that Vodafone set standards for firms that will invest in it and these standards must have technology or innovative services and comply with Vodafone’s strategy , and to have distinct team work to be viable, growth , the ability to achieve the financial return, and that the services or products that could be expanded in global markets.
Meanwhile, Vodafone Egypt launched Vodafone Ventures with total capital up EGP20 million for investing and developing the small firms that operating in internet field , supporting youths and encouraging their innovative and creative works along with developing the Egyptian economy through supporting small projects initiative.