Latest news with #500Global
Zawya
3 days ago
- Business
- Zawya
Cityscape Egypt 2025 launches proptech challenge with support of 500 Global
Cairo, Egypt:: In line with its future-focused strategy, Cityscape Egypt announced an event partnership with 500 Global during a signing ceremony attended by Robier Daniel, Cityscape Egypt Exhibition Director, and Ezzedin Zahzah, Program Director at 500 Global, a leading international venture capital firm. The event partnership supports the second edition of Egypt Proptech Challenge, taking place as part of Cityscape exhibition, from September 24 to 27, 2025, at the Egypt International Exhibition Center. Building on the success of its 2024 debut, Egypt Proptech Challenge returns with expanded regional reach and greater impact, establishing itself as a premier platform for innovation in real estate. The challenge offers unmatched exposure and real-world business opportunities. Participants will benefit from direct feedback by a panel of distinguished judges, including venture capitalists and digital transformation experts, helping them refine business models and build strategic relationships. The challenge will spotlight innovations reshaping real estate and urban development. Startups from Egypt, the GCC, and Africa as shortlisted by Cityscape will present cutting-edge solutions across PropTech, ConTech, smart cities solutions, real estate innovation, property and asset management, sustainability. Finalists will receive mentorship opportunities, with leading ventures showcased at Cityscape. Robier Daniel, Cityscape Egypt Exhibition Director, stated: 'The return of Egypt Proptech Challenge reflects our commitment to driving innovation and digital transformation in the real estate sector. By collaborating with 500 Global, we are creating a platform that not only highlights visionary startups but also connects them with the right stakeholders to scale their impact across Egypt, the GCC, and Africa. This challenge is a catalyst for real change in how our cities are built and managed.' Amal Enan, Partner at 500 Global, said: 'We believe Prop-tech is redefining how our region builds, lives, and invests, and we see that Egypt is quickly becoming its innovation epicenter. By channeling capital and mentorship into visionary founders across Egypt, Africa, and the wider MENA, at 500 Global, we're not just backing companies, we're aiming to accelerate entire ecosystems. The talent is here, we think the market demand is undeniable, and we're proud to help turn that momentum into enduring impact alongside Cityscape 2025.' For further updates, including agenda, speaker announcements, and registration details, please visit:
Yahoo
20-05-2025
- Business
- Yahoo
100+ Events, From Prototype to Product: SuperAI's Singapore AI Week (16-22 June) Unites the Global AI Ecosystem
Singapore AI Week will stage 100+ events across 10 themed Community Hubs, from Mixmag's creative-tech stage to the National Youth Council/Wavesparks student programme. Over US$250,000 in builder capital up for grabs: up to US$100,000 investment opportunity from 500 Global for the Genesis Startup Competition; US$50,000 in Draper University prizes headline the NEXT Hackathon. AI Creator Lab presented by AMD equips artists and makers with cutting-edge Ryzen(TM)-powered hardware and live mentorship. SINGAPORE, May 20, 2025 /PRNewswire/ -- SuperAI today unveiled the anchor events, prize pools, and community activations that will turn Singapore AI Week (16-22 June) into the city-state's largest AI festival to date. More than 100 events – spanning a US$50,000 hackathon, a US$200,000 startup competition, and AMD's hands-on AI Creator Lab – will map the journey from prototype to product and draw over 7,000 technologists to the flagship SuperAI conference at Marina Bay Sands (18-19 June). "AI's trajectory is everyone's question right now," said Peter Noszek, Co-Founder of SuperAI. "With AMD, AWS, 500 Global and over 150 partners, we're opening the doors to this next wave of innovation. Builders, investors or the simply curious – there's a session here for everyone." Through the SuperAI NEXT Hackathon (17-19 June), 60 AI and machine learning engineers will race round-the-clock to ship working products, competing for US$50,000 in prizes from Draper U, guided by AWS mentors. SuperAI will also host the Genesis Startup Competition, in partnership with AWS, 500 Global, and Plug & Play APAC, as 10 finalists chosen from hundreds of global applicants will vie for over US$200,000 in funding and support, including an up to US$100,000 seed investment from 500 Global (subject to final agreement on terms and due diligence). Khailee Ng, Managing Partner at 500 Global, said: "Genesis provides a catalytic moment for AI founders: a US$100,000 cheque, SuperAI's global spotlight, and connections that compress a year of fundraising and networking into a single week." Jielun Ong, Senior Director at Plug and Play APAC added: "Great startups aren't built in garages anymore, they're built within ecosystems. They don't just need capital but also cross-pollination with experts, fellow founders and corporate partners and that is what Plug and Play stands for." This year, SuperAI joins forces with AMD to present AI Creator Lab (19 June), for a live, hands-on showcase of creative workflows accelerated by AMD Ryzen™ AI 300 series processors. Creator Lab will showcase live demos with AV Mapping, and panels with AMD and Microsoft covering mobility, performance and ethics in the creator economy. "At AMD, we have a bold vision to enable the future of AI everywhere - bringing open, high-performance computing to every developer, AI start-up and enterprise around the world," said Peter Chambers, Managing Director of Sales, APAC and Country Manager, Australia, AMD. "AI PCs represent the next frontier in computing, transforming how we work, create as well as connect. We're excited to collaborate with SuperAI to demonstrate how Ryzen™ AI PCs are supercharging creators' workflows." Events extend from Marina Bay Sands to Punggol Digital District, with activations by The Generative Beings, AI Connex, MixMag and more. "Neural Networking," hosted by HubSpot for Startups, Antler and Kadan Capital, will match AI-startup founders 1-to-1 with investors. Policy will also take centre stage: GFTN Connect – AI Edition (18 June), organized by the Global Finance & Technology Network, a non-profit initiated by the Monetary Authority of Singapore, will convene global policymakers, regulators, and innovators for a high-level discussion on the intersection of AI, finance, and governance. To widen access, SuperAI is partnering with Wavesparks and the National Youth Council to provide complimentary tickets to 100 students worldwide, plus curated career-matching activities. For tickets, speaker updates, and partnership opportunities for SuperAI Singapore, visit To see the latest Singapore AI Week programme, visit Peter Noszek, Co-Founder of SuperAI, is available for an interview. About SuperAI Singapore SuperAI is Asia's largest AI event. Showcasing the transformative power of artificial intelligence, SuperAI brings together frontier technology visionaries, developers, startups, enterprises, researchers, and policymakers to shape the future. Taking place 18-19 June 2025 at the iconic Marina Bay Sands, SuperAI Singapore will convene over 7,000 attendees from more than 100 countries to explore and unveil developments in robotics, health, finance—and AI's impact across industries and society. View original content: SOURCE SuperAI Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Al-Ahram Weekly
25-03-2025
- Business
- Al-Ahram Weekly
Egypt committed to AI as catalyst for digital transformation: Communications minister - Tech
Minister of Communications and Information Technology Amr Talaat reaffirmed the government's commitment to artificial intelligence (AI) as a catalyst for digital transformation. Talaat made his remarks during the "Shaping Egypt's AI Horizon" event, which was organized by the Information Technology Industry Development Agency (ITIDA) in collaboration with 500 Global. During the event, leaders discussed Egypt's AI roadmap, startup funding, and the adoption of AI across key sectors. Egypt is fast-tracking its AI ecosystem growth by strengthening ties between startups, investors, enterprises, and policymakers, focusing on talent, AI-driven industries, and investment. Moreover, Talaat highlighted the National AI Strategy 2025-2030, which is built on six key pillars: - Computing infrastructure to support AI model training, - Data governance ensuring AI accessibility and responsible use, - AI-powered systems for real-world applications, - AI talent and capacity-building to meet market needs, - Regulatory frameworks for AI ethics and policies, - Ecosystem growth connecting startups, enterprises, and investors. The minister also emphasized ongoing engagement with stakeholders across the ICT sector to address their needs and foster dialogue within Egypt's AI ecosystem. "We are committed to enhancing Egypt's AI ecosystem by fostering collaboration, expanding our talent pool, and ensuring a regulatory framework that enables innovation," he stated. Bridging gap between AI talent, market needs Egypt is scaling AI talent development to fuel innovation and enterprise adoption. ITIDA CEO Ahmed Elzaher highlighted specialized training programmes in AI coding, MLOps, and responsible AI governance. "At ITIDA, we aim to foster a thriving AI ecosystem by connecting stakeholders, equipping talent with cutting-edge skills, and supporting startups to scale their innovations," Elzaher noted. AI startup investment, market expansion Meanwhile, Hoda Baraka, advisor to the ICT minister for technological talents, emphasized the government's commitment to building AI capabilities and integrating solutions into key sectors. 'Since 2019, Egypt has focused on developing its AI ecosystem through capacity building and policy development. Our updated AI strategy prioritizes expanding applications and ensuring that solutions address national challenges in sectors like healthcare, finance, and agriculture,' she stated. The event highlighted insights from 500 Global, which has invested in over 65 Egyptian startups. Amal Enan, a managing partner at 500 Global, stressed the potential of AI startups. "By fostering collaboration between investors, startups, and government stakeholders, we can unlock new opportunities and scale AI-driven businesses," she said. With plans to train 30,000 AI specialists and support 250 AI-driven companies, Egypt is positioning itself as a leading hub for AI innovation in the region. The country's strong talent pool, cost competitiveness, and government support make it a prime destination for enterprises looking to scale AI solutions and digital services. Follow us on: Facebook Instagram Whatsapp Short link:
Daily Tribune
02-03-2025
- Business
- Daily Tribune
How AI and Digital Finance Can Transform Economies?
The IDCF International Digital Cooperation Forum recently convened at the scenic Dead Sea, bringing together global leaders to discuss the pressing issues of finance in the digital world and the role of artificial intelligence (AI) in achieving sustainable development. In an open session, Ms. Dima AlKhatib, Director of the UN Office for South-South Cooperation (UNOSSC), emphasized the urgency of addressing the Sustainable Development Goals (SDGs), noting that only 17% of targets are currently on track, raising a significant red flag for acceleration efforts. 'The digital economy is crucial in overcoming development issues, including climate change and water scarcity. We are clustered in different areas, and all member states must adopt innovative financing strategies,' she stated. AlKhatib highlighted that while there is no shortage of funding, there is a pressing need for effective implementation. 'Sharing experiences is vital, and connectivity along with digital literacy are extremely important,' she added. Ms. Courtney Powell, COO and Managing Partner of 500 Global, outlined her organization's commitment to investing in emerging markets, particularly through a new model for public-private partnerships (PPPs) and a multi-year roadmap to foster growth in digital economies. H.E. Mr. Wamkele Mene, Secretary-General of the Africa Continental Free Trade Area, expressed optimism about creating a consolidated single market that could attract investments in AI and other sectors of the African economy. 'A missing element in this vision is a regulatory body. Our end goal is to deploy technology for the future, and it is imperative that venture capital flows from the private sector,' he asserted. Ms. Barbara Manzi, Regional Director for Arab States at the UN Development Coordination Office, underscored the importance of education in transitioning economies towards digital initiatives. 'We must collectively assess risks, and partnerships are crucial in this endeavor,' she noted. Finally, Mr. Dieter Hampel, Chairman of the Association and Executive Board Member of AED, pointed out the challenges of entering the AI market due to financing constraints. 'Targeted finance is essential, and while PPPs are a viable solution, sustainability for governments remains a question. We must not forget the importance of civil society and their digital knowledge in this landscape,' he concluded.
The National
16-02-2025
- Business
- The National
How a stronger US dollar will affect Middle East start-up funding
The expected strengthening of the US dollar as President Donald Trump returns to office for another four-year term will have a mixed effect on start-up funding in the Middle East, according to analysts. The dollar has been volatile in recent weeks as tariff threats from Mr Trump and a reciprocal approach by those threatened by levies continue to dominate headlines. Early this year, the currency jumped to a two-year high, and Mr Trump's policies of proposed domestic tax cuts and tariffs are expected to restore the competitiveness of US manufacturing and further fuel these gains. The US Federal Reserve has also indicated that it will be more cautious in cutting interest rates this year to help curb inflation. For start-ups in the Middle East, the impact will be mixed. Countries that have their currencies pegged to the dollar, such as those in the Gulf, will feel a minimal effect. For venture capitalists, the region's stable inflation and robust economic growth are more attractive than volatile markets in the wider Mena. 'For economies that have their currencies pegged to the US dollar, like the GCC for example, the impact will be much smaller than other countries,' says Mohamed Hussain, an investment adviser. 'But for countries that have a floating or flexible currency, like Egypt, the impact is expected to be bigger.' The Egyptian pound has been devalued by about 70 per cent since 2022, and inflation has reached over 25 per cent since January 2023. While the devaluation could make investments in the country more affordable and perhaps even more attractive, the economic situation could also be a deterrent for investors. 'Although investors could find it attractive to invest in such markets, because of cheaper valuations and cheaper operational costs, it's important to remember that most of these companies would still need to operate in their local market,' Mr Hussain says. 'So, in most cases, their revenue will be in local currency, which could be a disadvantage, and therefore for these companies, it's important to consider revenue diversification.' According to Mr Hussain, investors are looking for exponential growth. This means that start-ups need to increase profit margins while keeping costs constant. In flexible currency markets, this can be challenging since costs constantly fluctuate. 'Investors are looking to maintain solid profitability and sustainability of the company in US dollar terms, which can be challenging in such markets,' he says. Milkup, a young Egyptian AgriTech start-up that recently graduated from 500 Global MENA, wants to start generating revenues before raising funds. It aims to approach Egyptian VCs since its operations are locally based, but it also believes that fund-raising rounds in the country would be considered too small for outside investors. 'GCC investors are looking for a $600,000-$700,000 round, where they will participate with two or three entities,' says Mohammed Nasser, co-founder of Milkup. 'If you ask them to give you $50k, it's not really within their remit. This is a counter intuitive challenge that Egyptian start-ups are facing at the moment, because they're so cheap, because operating costs are so cheap, finding a suitable venture capitalist partner from the GCC is ironically a bit of a challenge, because the amounts we're raising are so low.' Despite this, Egypt still ranked third in the Mena region in terms of start-up funding last year, mainly because of its large market size, according to data platform Magnitt. In 2024, start-ups in the country raised $329 million, with Saudi Arabia first ($750 million), followed by the UAE ($613 million). Start-ups in Lebanon raised $510,000 last year, a 54 per cent decrease compared to the previous year, according to Wamda. Investment challenges are leading many start-ups, such as Swvl, Podeo, Intella and Sideup, to relocate abroad, setting up their headquarters in the Gulf, particularly in the UAE and Saudi Arabia. Some are moving their entire teams, while others are maintaining back offices where operations and talent costs are cheaper. Avo Manjerian, co-founder at Schedex in Lebanon, is now piloting his start-up in the UAE and plans to enter the market in the second quarter of this year. The company, which was set up in 2020, offers automated employee management and shift scheduling software as a service. With the local economy hit with hyperinflation, banking restrictions and more recently the war between Hezbollah and Israel, he is now prioritising sales and profitability. 'It is very difficult to fundraise because Lebanon is considered a very high-risk country,' he says. 'You're in a war zone and this is why we stopped fund-raising. We didn't even think about it from the start of the year and instead we focused on sales and growth,' Mr Manjerian says. 'We were growing 40 per cent month over month, then when the war came suddenly, we woke up and saw that our revenue decreased 80 per cent overnight.' Mr Manjerian aims to fundraise later this year after the UAE expansion. Looking ahead into 2025, Magnitt expects increased funding in the region as interest rates cool down. If the Fed implements additional rate cuts, it could encourage more investment into riskier asset classes, such as start-ups. 'What we've seen globally and in the region in the last few years, is a pull-out of investments in venture capital towards other asset classes, and we expect that as interest rates come down, we're going to be seeing the bottoming out of the venture capital slowdown, and more appetite for investments,' says Philip Bahoshy, chief executive of Magnitt. International capital accounts for about 30 per cent to 40 per cent of venture funding, and investors like SVC, Jada Funds of Funds, Dubai Future District Funds (DFDF) and Mubadala, among others, are some of the main drivers for investments in the region, he says. 'The reality is that it's still stimulated at a local perspective.' Mr Hussain also agrees that local investments are helping build and develop the region's start-up ecosystem, since seasonal investors can pull out their money and leave anytime. 'Despite anything that is happening in the short term, if the belief in the long term is that the region is going to grow and that there is opportunity here, which is the case, then investors will continue to invest in the region,' he says.
