Plug and Play venture is a business that gathers entrepreneurs from around the world, and has decided that since not everyone can go to Silicon Valley to start the next big thing, that it’s going to go to them. Well, to those in Cairo, Egypt for now.
‘Plug and Play Egypt’ a Silicon Valley startup accelerator (now Egyptian too) that provides everything from incubation to mentor and funding to young entrepreneurs in Cairo and has already accepted 5 startups for incubation.
The accelerator provides three main services for regional startups: acceleration, mentorship, and most importantly funding.
With an obvious preference of mobile software development along with e-commerce, opportunities in the region seem to be diversifying by the minute with funds flowing steadily into e-commerce & mobile, as well as online social gaming.
Rising Tide Fund, is the investment arm of Global Technology and Innovation Partners (GTIP), plans on investing in Jordan, Lebanon, Malaysia and Turkey also. Which will mean more local branches of Plug and Play throughout the region in attempt to drive economic growth by investing in regional SMEs.