Bokra and CIC Unveil $207,000 Fund

• Bokra and CIC launch a $207,000 fund to support aspiring student entrepreneurs in Egypt, providing early-stage funding and mentorship.
• The partnership introduces Bokra Academy, offering free online courses in key business areas and creating pathways for professional growth.
• This initiative aims to foster innovation, drive economic growth, and strengthen Egypt’s position as a hub for entrepreneurship in the MENA region.

Bokra, a leading fintech company in the MENA region, has joined forces with the Canadian International College (CIC) to launch a groundbreaking $207,000 fund aimed at supporting aspiring student entrepreneurs in Egypt. This initiative marks a significant step towards fostering innovation and empowering the next generation of business leaders in the country.

The fund, equivalent to EGP 10 million, was unveiled at a high-profile event attended by over 1,000 students, highlighting the immense interest and potential within the student community. It is designed to provide early-stage funding and mentorship to CIC students with disruptive ideas, helping them transform their entrepreneurial dreams into reality.

Ayman El-Sawy, Founder and CEO of Bokra, emphasized the company’s mission to make financial goals a reality. He stated, “Our partnership with CIC reflects our commitment to cultivate a more mature and dynamic startup ecosystem by empowering the next generation of entrepreneurs with essential tools, resources, and funding.”

The collaboration goes beyond just financial support. It also introduces the “Bokra Academy,” a revolutionary platform bridging the gap between academia and industry. This initiative offers free online courses in crucial areas such as financial planning, marketing, technology, artificial intelligence, and corporate law. Graduates of these certified programs will have access to job opportunities within Bokra and its partner organizations, as well as fast-tracked access to funding through the newly launched fund.

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Magdy El Kady, Chairman of CIC, expressed enthusiasm about the partnership, stating, “We are immensely proud to join forces with a trailblazer like Bokra in this transformative initiative. Together, we are creating opportunities for the next generation of innovators to unleash their potential and drive positive change in our society and economy.”

This strategic collaboration is expected to play a crucial role in building a stronger and more dynamic ‘Digital Egypt.’ By providing students with the necessary skills, resources, and financial backing, Bokra and CIC aim to foster a new wave of innovation and entrepreneurship in the country.

The partnership comes at a time when Bokra is experiencing significant growth. In April 2024, the company, founded just a year earlier in 2023, secured a substantial $4.6 million pre-seed funding round, demonstrating investor confidence in its vision and potential.

As Egypt continues to position itself as a hub for innovation and entrepreneurship in the MENA region, initiatives like this Bokra-CIC fund are expected to play a crucial role in nurturing talent, driving economic growth, and shaping the future of the country’s business landscape.

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