Valeo Group | 29 Jun, 2020 | 3 min

Valeo Announces Golden Sponsorship of the “France in Egypt” Startups Competition

Valeo Egypt announced its golden sponsor of the “France in Egypt” Startups Competition during the launch event held on Wednesday, November 6th, at Smart Village Club. The event took place in the presence of His Excellency the Governor of the Central Bank of Egypt, M. Tarek Amer, His Excellency the Minister of Communication and Information Technology, Dr. Amr Talaat, and His Excellency the French Ambassador to the Arab Republic of Egypt, M. Stéphane Romatet.

France supporting innovation in Egypt logoIn order tp identity Egyptian startups with high potential for growth and ambition to become the leaders of digital transformation, the competition targets three sectors of cooperation between France and Egypt; Health, Financial Technology and Sustainable Cities. The contest was made possible by the support of more than 15 French sponsors including Valeo, Axa, Crédit Agricole, Orange, Schneider Electric, Danone, and Sanofi.

Following the visit of the French Republic President to Egypt back in January 2019, the competition comes as a result of a common will between France and Egypt to strengthen their bilateral ties in the field of innovation and entrepreneurship; after a declaration of intent was signed between the two countries to strengthen entrepreneurship and foster digital startup growth.

Top seven winning startups will be selected at the end of the competition, and will share a prize of EGP 750,000, in addition to the benefits they will be granted in terms of business acceleration support mechanisms provided by partners and sponsors of the competition.

In an age where the number of innovative startups rise exponentially and evolve at an unprecedented rate, Valeo will always target its efforts towards building a threshold to reinforce ingenious startups’ growth and development.

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