XMATCH DEMO DAY, a groundbreaking initiative by Exits MENA and ECOSYS+, has achieved a remarkable milestone in the Middle East region by attracting over $20 million in potential investments for small and medium-sized enterprises (SMEs) and startups in Egypt.
Held over two days in Four Seasons Nile Plaza, this first-of-its-kind event has marked a significant shift in the regional investment paradigm, giving SMEs unprecedented access to substantial funding and strategic support.
The event connected 40 startups and SMEs from 16 different verticals with more than 60 investors, involving angel investors, VCs, accelerators, and banks. A curated list of 40 promising startups and SMEs, out of more than 1000 vetted applicants, received tailored investment readiness training in partnership with the Business School of The Knowledge Hub University and Coventry University.
Reflecting the resilience and dynamism of Egypt’s startup ecosystem, XMATCH DEMO DAY is a testament to the growing confidence of SMEs and startups in the MENA region. About 43 percent of Egypt’s SMEs in 2023 are optimistic about their growth prospects, signaling a robust recovery and a conducive environment for entrepreneurial ventures.
The event is also the first dedicated to SMEs. It has facilitated direct interactions between SMEs and various investors, including angel investors, VCs, and banks. The first day focused on 20 SMEs, offering a unique platform for pitching and immediate feedback. The second day showcased 20 startups, emphasising the vibrant innovation within the region. The result was 15 matches in two days. The EXITS team is currently working with SMEs and potential investors/lenders for those opportunities in order to materialise into deals.
“We are already planning the second edition of XMATCH DEMO DAY, building on the incredible success of this inaugural event,” Mohamed Abuelnaga, co-founder and executive chairman of Exits MENA, announced.
“Our vision is to sustain this momentum and continue to be the cornerstone for SMEs’ and startups’ growth in the MENA region.” Abuelnaga said.
For her part, Ahella El Saban, co-founder and vice-chairman of Exits MENA, said XMATCH DEMO DAY’s unique focus on SMEs, alongside startups, demonstrates “our commitment to revitalizing the MENA region’s economy.”
“We are pioneering a new approach in investment matchmaking, particularly for SMEs who traditionally do not benefit from conventional demo day platforms,”
“We’re proud to be the first movers in creating a platform that exclusively focuses on the investment needs of SMEs and startups, offering them funding opportunities and the guidance and exposure they need to thrive.” El Saban added.
The first day of the event was dedicated to 20 SMEs, enabling them to pitch their business models to a diverse group of investors. Meanwhile, the second day focused on startups, facilitating networking and feedback sessions. The event also featured investor dinners, where discussions on ecosystem development and future collaborations took place.
“Partnering with Exits MENA for XMATCH DEMO DAY was a strategic and visionary decision,” stated Heba Labib, Assistant VP for Innovation, Nile University Executive Director, NilePreneurs.
“Our aligned goals to bolster the SME sector and create tangible economic impact made this collaboration highly effective.”
XMATCH DEMO DAY is a catalyst for change
“The $20 million investment potential represents a significant leap forward for SMEs and Startups in the region, emphasising their vital role in the economy”, Ayman El Tanbouly, co-founder and managing director of Exits MENA, explained.
The presence of influential figures, such as Hossam Hiba, Head of the General Authority for Investment and Free Zones (GAFI), in addition to officials in the Central Bank of Egypt (CBE), who provided tailor-made support through panels, feedback and their project partners, highlighted the importance of this initiative,
Nileprenuers is a nationwide initiative that started in 2018 to support Small and Medium Enterprises (SMEs) and Entrepreneurs in Egypt, funded by the CBE, implemented by Nile University.
ECOSYS+ is a project funded by the European Union and implemented by the Academy of Scientific Research and Technology – as a project coordinator – Nile University, Yomken.com, ICTI – Ministry of Trade and Industry, Sustainable Innovation Technology Services, and Easy Integrazione di Sistemi. The ECOSYS+ platform aims to reinforce the national innovation ecosystem, upscaling its presence and strength on a global scale with interactive dynamic tools to build targeted innovative products and services while providing support in the form of investment, incubation, acceleration, partnerships for testing of prototypes and commercial systems, targeting human resources and access to critical infrastructures.
