Nile Angels Launched at Techne Drifts

ArabNet Team, Apr 23 2018

Nile Angels, the first investment network in Upper Egypt specialized in angel investments, was launched yesterday during a Techne Drifts event.

The Assiut-based angel network includes a group of founding members, all of whom have notable experience in business and the entrepreneurial ecosystem. Believing in the vital role they can play in the development of the startup community in the region, Nile Angels’ investors are eager to help talented motivated startups guarantee sustainability.

Nile Angels’ aim is to supply the funds needed by any startup through angel investments and not through capital. In addition, the angel network aids startups and their entrepreneurs by offering them consulting, orienting, networking, and empowering services.

"Nile Angels" launched successfully due to the fruitful and effective collaboration between the founding members, Techne Drifts and the “Deutsche Gesellschaft für Internationale Zusammenarbeit” (GIZ) on behalf of the German Government, who has been supporting young entrepreneurs and SMEs in Egypt for several years.

Stressing on the significance of angel investors in the entrepreneurial ecosystem, its founder, Mohamed Farouk, explained that "Nile Angels" is ready to accept startup business plans. The new network aims to invest in promising, creative, early stage startups in the Upper Egypt region from this year onwards.

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