EdVentures, the corporate venture capital arm of Egypt’s Nahdet Misr Publishing Group, said it will $1.1 million in Jeel start-up, an education and entertainment platform for pre-schoolers in the region.
EdVentures, which was founded in 2017, made the announcement at its summit on the future of EdTech in the Middle East and North Africa region. The event was organised in collaboration with HolonIQ, the US-based platform for impact market intelligence.
“Moving forward, EdVentures is seeking more investments in EdTech start-ups, while expanding globally,” Dalia Ibrahim, chief executive of Nahdet Misr Publishing House and founder of EdVentures, said.
“Driven by the need to transform the EdTech sector locally and regionally, we established EdVentures … and managed to support more than 66 start-ups, and invest in 13 start-ups with a market capitalisation of $75 million, creating 1,400 jobs,” Ms Ibrahim said.
Globally, the EdTech market is booming.
The industry’s market size, valued at $106.5 billion last year, is expected to expand at a compound annual growth rate of 16.5 per cent from 2022 to 2030, according to the US research company Grand View Research.
This industry includes hardware and software technology used to educate students online to improve learning in classrooms and enhance students’ education outcomes.
Egypt, the most populous economy in the Arab world, has the largest share in the growing EdTech ecosystems across the Mena region, according to HolonIQ’s latest data. The country is home to 1,500 EdTech companies, followed by the UAE and Saudi Arabia.
Established in 1938, Nahdet Misr is one of the pioneers in the fields of education and publishing in the Mena region. It offers integrated services through its eight subsidiaries, including curriculum development, professional development for educators, digital learning, educational software development, vocational education and technical training solutions and publishing solutions.
It launched Mena’s first EdTech VC, EdVentures, in 2017 to provide incubation, acceleration and investment programmes for start-ups operating in the education sector.
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F1 The Movie
Starring: Brad Pitt, Damson Idris, Kerry Condon, Javier Bardem
Director: Joseph Kosinski
Rating: 4/5
On Women's Day
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Shelina Janmohamed: Why shouldn't a spouse be compensated fairly for housework?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
The National Editorial: Is there much to celebrate on International Women's Day 2021?
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From Zero
Artist: Linkin Park
Label: Warner Records
Number of tracks: 11
Rating: 4/5
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Starfield
Sri Lanka Test squad:
Dimuth Karunaratne (stand-in captain), Niroshan Dickwella (vice captain), Lahiru Thirimanne, Kaushal Silva, Kusal Mendis, Kusal Janith Perera, Milinda Siriwardana, Dhananjaya de Silva, Oshada Fernando, Angelo Perera, Suranga Lakmal, Kasun Rajitha, Vishwa Fernando, Chamika Karunaratne, Mohamed Shiraz, Lakshan Sandakan and Lasith Embuldeniya.
Paatal Lok season two
Directors: Avinash Arun, Prosit Roy
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World Mental Health Day
COMPANY%20PROFILE
APPLE IPAD MINI (A17 PRO)
Display: 21cm Liquid Retina Display, 2266 x 1488, 326ppi, 500 nits
Chip: Apple A17 Pro, 6-core CPU, 5-core GPU, 16-core Neural Engine
Storage: 128/256/512GB
Main camera: 12MP wide, f/1.8, digital zoom up to 5x, Smart HDR 4
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Biometrics: Touch ID, Face ID
Colours: Blue, purple, space grey, starlight
In the box: iPad mini, USB-C cable, 20W USB-C power adapter
Price: From Dh2,099
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Skoda Superb Specs
Engine: 2-litre TSI petrol
Power: 190hp
Torque: 320Nm
Price: From Dh147,000
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On Women's Day
Dr Nawal Al-Hosany: Why more women should be on the frontlines of climate action
Samar Elmnhrawy: How companies in the Middle East can catch up on gender equality
The National Editorial: Is there much to celebrate on International Women's Day 2021?
Justin Thomas: Challenge the notion that 'men are from Mars, women are from Venus'
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3) Ederson, Benfica to Manchester City (£35m)
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Springsteen: Deliver Me from Nowhere
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Starring: Jeremy Allen White, Odessa Young, Jeremy Strong
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Who's who in Yemen conflict
Houthis: Iran-backed rebels who occupy Sanaa and run unrecognised government
Yemeni government: Exiled government in Aden led by eight-member Presidential Leadership Council
Southern Transitional Council: Faction in Yemeni government that seeks autonomy for the south
Habrish 'rebels': Tribal-backed forces feuding with STC over control of oil in government territory
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Business Insights
- As per the document, there are six filing options, including choosing to report on a realisation basis and transitional rules for pre-tax period gains or losses.
- SMEs with revenue below Dh3 million per annum can opt for transitional relief until 2026, treating them as having no taxable income.
- Larger entities have specific provisions for asset and liability movements, business restructuring, and handling foreign permanent establishments.
Six large-scale objects on show
- Concrete wall and windows from the now demolished Robin Hood Gardens housing estate in Poplar
- The 17th Century Agra Colonnade, from the bathhouse of the fort of Agra in India
- A stagecloth for The Ballet Russes that is 10m high – the largest Picasso in the world
- Frank Lloyd Wright’s 1930s Kaufmann Office
- A full-scale Frankfurt Kitchen designed by Margarete Schütte-Lihotzky, which transformed kitchen design in the 20th century
- Torrijos Palace dome
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