XMatch DEMO Day, a groundbreaking initiative by Exits MENA and ECOSYS+, has achieved a remarkable milestone in the MENA region by attracting over $20m in potential investments for Small and Medium Enterprises (SMEs) and Startups in Egypt. This first-of-its-kind event, held over two days in Four Seasons Nile Plaza, has marked a significant shift in the regional investment paradigm, giving SMEs and Startups unprecedented access to substantial funding and strategic support.
The event connected 40 startups and SMEs from 16 different verticals with more than 60 investors, including angel investors, VCs, accelerators, and banks. A curated list of 40 promising startups and SMEs, out of the 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 region. About 43% of Egypt’s SMEs in 2023 are optimistic about their growth prospects, indicating a robust recovery and a conducive environment for entrepreneurial ventures.
The event, the first dedicated to SMEs and Startups, facilitated direct interactions between them and various investors. The first day focused on 20 SMEs, providing a unique platform for pitching and immediate feedback, while the second day showcased 20 startups, emphasizing the vibrant innovation within the region. The result: 15 matches in two days. The EXITS team is currently working with SMEs and potential investors/lenders to finalize the deals.
“We are already planning the second edition of XMatch DEMO Day, building on the incredible success of this inaugural event,” announced Mohamed Abuelnaga, Co-Founder and Executive Chairperson of Exits MENA. “Our vision is to sustain this momentum and continue to be the cornerstone for SMEs’ and Startups’ growth in the MENA region.”
“XMatch DEMO Day’s unique focus on SMEs and Startups demonstrates our commitment to revitalizing the MENA region’s economy. We are pioneering a new approach in investment matchmaking, especially for SMEs who traditionally do not benefit from conventional demo day platforms,” said Ahella El Saban, Co-Founder and Vice-Chairperson of Exits MENA. “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.”
The event also featured investor dinners, where discussions on ecosystem development and future collaborations were held.
“Partnering with Exits MENA for XMatch DEMO Day was a strategic and visionary decision,” remarked 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.”
Ayman El Tanbouly, Co-Founder and Managing Director of Exits MENA, said: “XMatch DEMO Day is not just an event; it’s a catalyst for change. The $20m investment potential represents a significant leap forward for SMEs and Startups in the region, emphasizing their vital role in the economy.”
The presence of influential figures, such as Hossam Hiba, Head of the Investment and Free Zones Authority, further highlighted the importance of this initiative, in addition to the Central Bank of Egypt, who provided tailor-made support through panels, feedback and their project partners, Nileprenuers; a nationwide initiative that started in 2018 to support Small and Medium Enterprises (SMEs) and Entrepreneurs in Egypt, funded by the Central Bank of Egypt (CBE), and implemented by Nile University.
