The Minister of Communications and Information Technology Amr Talaat has concluded his participation in the G20 Digital Economy Ministerial Meeting (DEMM) in India and met with the entrepreneurs and founders of Egyptian startups: winners of and participants in the competition held as part of the G20 Digital Innovation Alliance (G20-DIA) Summit in Bengaluru, India, to support startups and innovations.
Bosta won the award for best secured digital infrastructure startup, and Money Fellows won the people’s choice award for best FinTech startup.
During the meeting, the ICT Minister congratulated the entrepreneurs on winning the competition and commended the pioneering projects of the Egyptian youth participating in the competition. These projects included creative ideas and innovative solutions in various fields, reflecting the excellence and creativity of Egyptian youth. He emphasized that the Ministry of Communications and Information Technology (MCIT) supports startups and encourages digital creativity and entrepreneurship nationwide.
The competition featured 114 startups from 22 countries of the world’s most powerful economies. It targeted six essential sectors, namely agriculture technology (AgriTech), HealthTech, EdTech, FinTech, secured digital infrastructure, and circular economy.
Five Egyptian startups, selected by the Technology Innovation and Entrepreneurship Center (TIEC) of the Information Technology Industry Development Agency (ITIDA), participated in the competition. TIEC announced the launch of a call for all Egyptian startups to submit applications to select innovative startups for participating in the competition, according to a set of criteria.
The Egyptian companies participating in the competition included Bosta in secured digital infrastructure, Money Fellows in FinTech, Shunnah in circular economy, Mozare3 in AgriTech, and Rology in HealthTech.
Bosta is one of the promising companies in logistics services leveraging technology. It aims to provide a one-stop-shop for delivery solutions for e-commerce store owners to store, ship, and analyze the performance of shipments.
Furthermore, Money Fellows is providing a specialized application for associations in Egypt through which financial solutions for saving, planning, and borrowing are provided to customers. The number of the application’s users has reached six million. Money Fellows has succeeded in attracting foreign and local investors, with a total investment value of $45 million.
Meanwhile, Shunnah is a company working in AgriTech and circular economy to improve supply chains in the agricultural sector, especially in the grain and agricultural inputs. Moreover, Mozare3 is an Agri-FinTech company aiming to become and provide the go-to super-app for all farmers’ agricultural and non-agricultural financial needs. The company targets smallholder farmers and provides them with access to input financing, agricultural needs, agricultural support, and markets.
In addition, Rology provides services for diagnosing and writing teleradiology through an AI-assisted teleradiology platform and includes a network of trusted and accredited radiology consultants in all subspecialties. It is the first Middle East and Africa’s leading AI-Assisted Teleradiology platform.
The Indian Ministry of Electronics and Information Technology (MeitY) launched G20-DIA in December 2022 as an extension of the G20 Innovation League and under the aegis of the G20 Digital Economy Working Group (DEWG).
The G20-DIA aims to recognize innovative solutions and build a network of partners concerned with innovation, including entrepreneurs, investors, companies, and project owners across the G20 countries and guest countries to support them, within the framework of reducing the global digital divide and revitalizing the global economy.
The G20-DIA took place on August 17-19, with the participation of technology startups from 22 countries, including Egypt, the United States of America (USA), Saudi Arabia (KSA), the United Arab Emirates (UAE), Canada, France, Brazil, Mexico, the Netherlands, Germany, Japan, South Korea, Turkey, India, Nigeria, Russia, South Africa, Singapore, Indonesia, Argentina, Oman, and Mauritius.
The competition was held on August 17-18, while the third day included a tour for all participating startups to learn about the business environment in Bengaluru, India.
It is worth noting that the ICT Minister had participated in the G20 DEMM sessions held in India during which visions were presented and experiences were exchanged on digital infrastructure, cybersecurity, and digital skills. The agenda of the two-day visit also included holding meetings with several ministers and officials from Tejas Networks to enhance cooperation and promote investment in the Egyptian ICT sector.
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وزارة الاتصالات وتكنولوجيا المعلومات-مصر
