MC Egypt Sponsors 5 Entrepreneurs to Attend ArabNet Beirut, Announces $5,000 Prize for Idea with High Social Impact

ArabNet , Mar 13 2013

MC Egypt, an Egyptian LLC, majority-owned by Mercy Corps, will take a part of the social impact track during ArabNet Beirut. In this regard, MC Egypt has generously stepped forward to sponsor flight and accommodation for 5 Egyptian nationals to be able to attend ArabNet Beirut and take part in the Startup Demo competition.

Today we are glad to announce the names of the lucky 5, they are:

MC Egypt will also pick the ‘best business idea with a high social impact’ at ArabNet Beirut, and award a $5,000 prize.

MC Egypt’s mission is to invest in scalable and replicable businesses that create measurable social impact, thereby reducing poverty and creating the opportunity to shape secure, just and productive societies. As part of its mission MC Egypt is engaged in support of the overall entrepreneur ecosystem, specifically by providing technical assistance to both entrepreneurs and to key players in the ecosystem, like angel investors and accelerators.

MC Egypt is also raising an impact investment fund to invest directly into businesses with a high social impact, specifically in tech and agri-business. The fund aims to bridge the gap between angel investment and VC, with ticket sizes of between $100k and $400k

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