The Technology Innovation and Entrepreneurship Center
(TIEC) of the Information Technology Industry
Development Agency (ITIDA) aims to eliminate the
funding gap in the entrepreneurial ecosystem through
the formation of public-private partnerships, where
TIEC participates as an investor in one or more
venture capital funds, These funds are privately
managed to provide return rate from the successful
outcomes of investments. This achieves a dual
objective. On one hand, the government's economic
objective is achieved by stimulating the growth rate
of innovative, high-tech, and advanced-knowledge
companies. And on the other hand, a satisfactory
return is provided for private investors.
Accordingly, this VC funding program is launched to
finance venture capital funds, where the following
gives the details of the requirements and procedures
required to be met by these funds to benefit from
- The General Partner (GP) of the target VC
Fund is registered as an Egyptian company capable of
establishing VC funds.
- The VC Fund is established in accordance with the provisions of the
- The Fund investments are directed to Egyptian ICT or ICT-enabled
companies in the seed and growth stages.
- The Fund size is not less than 150 (one hundred and fifty) million
- The private financing percentage in the Fund is not less than 80%.
- Submission is done using the application form availed in what follows.
- The application form is completed, signed, and stamped.
- Copies of GP’s recent documents are submitted. These include the commercial
register, the tax card, and the financial statements for the last two years
approved by EFSA auditors. If the GP is a newly-established Egyptian company
affiliated to a foreign company, then the financial statements of the foreign
company are submitted. In case a newly-established Egyptian company is not
affiliated to any foreign company, the management team submits financial
statements for their former funds.
- Copies are provided for the Fund Prospectus and investment commitments.
- Original, three copies, and an electronic copy of the application form and
required documents are submitted to TIEC, Building B5, Smart Village, Att. Dr.
Hossam Osman, by Thursday, May 31, 2018, 12 noon.
- Q&A Session: Sunday, May 20, 2018, 12:00 noon, at TIEC.
- Evaluation is point-based as per the following table and applicants with
score less than 70 points are not accepted.
- Applicants are sorted in descending order where the funds with best scores
are targeted in light of the available program budget, taking into account that
the fund's public capital does not exceed 20%.
GP Basic Data||
Fund Basic Data||
Fund Governance and Management||
Investment Guidelines and
Application Template :