Egypt: ITIDA-backed Aswan Bootcamp Series ends with $3.6mln in startup funding

Lead

The Aswan Bootcamp Series, an ITIDA-backed accelerator run in partnership with Plug and Play Tech Center, concluded in Aswan with participating startups securing investments estimated at EGP 200 million (about $3.6 million), according to an emailed press release. Launched in November 2024, the programme supported 61 startups across Upper Egypt and held its closing event at the Digital Egypt Innovation Hub (Creativa) in Aswan, bringing together regional officials, investors and founders.

Direct quote

"Building Inclusive Financial Systems through Technology and Regulation" — a session title at the closing event — framed one of the programme’s central debates on how digital tools and policy can expand financial access and scale early-stage ventures outside Cairo.

Context and details

The initiative was launched by the Information Technology Industry Development Agency (ITIDA) in partnership with Plug and Play and in collaboration with the US Agency for International Development (USAID). It was designed to support around 60 technology startups through a series of specialised bootcamps delivered via a model that combined technical training and mentorship from industry experts.

The closing ceremony featured senior stakeholders including Amr Lashin, Governor of Aswan; Ahmed El-Zaher, CEO of ITIDA; Loay Saad El-Din Nasrat, Acting President of Aswan University; and Karima El Hakim, Partner Africa at Plug and Play Tech Center. The event included panel discussions addressing the intersection of technology, regulation and entrepreneurship, and a session titled "Cairo Founders" that focused on scaling strategies, market entry challenges and access to investment.

• Programme reach: 61 startups from Aswan and neighbouring governorates
• Applications: more than 150 submissions from across Upper Egypt
• Funding reported: investments estimated at EGP 200 million
• Implementation note: ITIDA took on full funding after suspension of external support during implementation

Organisers said demand — reflected in more than 150 applications — and the completion of three phases prompted ITIDA to assume full funding responsibility when changes in international development cooperation led to suspension of external funding. That decision allowed the bootcamp series to continue through to completion, organisers said in the release.

Founders who participated used the closing forum to outline challenges and milestones in building businesses outside major urban centres, describing how the programme’s mentorship and technical support helped refine business models and approach investors. Several participating companies secured investments during or following the programme, a sign of growing investor interest in ventures from southern Egypt.

Outlook

The Aswan Bootcamp Series forms part of the Ministry of Communications and Information Technology’s strategy to expand entrepreneurship across Egypt’s governorates. ITIDA said it plans to replicate the model in the Nile Delta to broaden participation in the country’s technology sector. Analysts and ecosystem participants cited in the release noted that steady venture capital activity, a network of accelerators and a young technical workforce continue to underpin Egypt’s emergence as a regional technology hub.