EdVentures, a pioneering EdTech corporate venture capital firm in the MENA region, has announced a strategic partnership with VMS, a leading Venture Studio empowering entrepreneurs and startups in the Middle East. This collaboration is a significant milestone in developing the EdTech industry in Saudi Arabia and Egypt, fostering innovation in a key sector considered one of the most impactful for societal growth.
Since its establishment in 2017, EdVentures, the investment arm of Egypt’s Nahdet Misr Group, has been at the forefront of investing in innovative EdTech startups. With an unwavering commitment to education, culture, and groundbreaking learning solutions, EdVentures has consistently driven positive change in the sector.
Meanwhile, VMS is a Venture Studio that empowers entrepreneurs and startups in the MENA region. With its expertise, resources, and connections, the company supports talented startups entering the Saudi Arabian market, helping them overcome challenges and achieve their business goals. By driving innovation and embracing risk, VMS contributes to the growth and success of the Saudi entrepreneurial ecosystem.
Speaking on the collaboration, Founder & Chairperson of EdVentures, Dalia Ibrahim, said:
This partnership presents an incredible opportunity for the growth of the EdTech industry in the Arab world. We are thrilled to partner with VMS, a trusted collaborator that shares our vision of transforming education and empowering the next generation. Together, we will drive innovation, create job opportunities, and support the vibrant startup ecosystem in Saudi Arabia, Egypt, and the entire region.
The alliance between EdVentures and VMS will allow both companies to support more EdTech startups. EdVentures will provide startups with specialized incubation, acceleration, and investment programs. At the same time, VMS will leverage its network to offer essential guidance, mentorship, and advisory services to enhance the startups’ chances of success.
With a proven track record of strategic execution, VMS has already achieved 60% of its investment targets within six months, showcasing its agility and forward-thinking approach. The company’s dedication to Saudi innovation is evident through its participation in the “Aware Initiative to Achieve Vision 2030,” which aims to shape a prosperous future for the Kingdom. By partnering with industry leaders, VMS has established itself as a trailblazing investment company that embraces innovation and actively paves the way for the future.
Moataz Abuaneq, Chief Executive Officer of VMS, added:
We are excited to collaborate with EdVentures in this game-changing partnership. Together, we will unlock limitless possibilities for Edtech startups and entrepreneurs in the Middle East. By combining our strengths and expertise, we will build an ecosystem that fosters innovation, empowers talent, and creates a better future for education.
EdVentures claims to have successfully supported more than 70 startups and entrepreneurs since its launch. The firm has invested in 14 companies operating in the education technology and human capacity-building sector in Egypt and the Arab region, significantly impacting the industry.
HolonIQ has recognized the success of EdVentures by selecting nine companies from its portfolio among the top 50 startups in the field of education technology in the Middle East and North Africa for 2022. These companies are: “iSchool,” “Akhdhar,” “COLNN,” “OTO,” “Entreprenelle,” “Career 180,” “EYouth,” “Sprints,” and “Jeel.”
EdVentures and VMS’s partnership is expected to significantly change the education sector in Saudi Arabia, Egypt, and the Arab region. It aims to keep up with the revolutionary developments in the EdTech sector, including the use of AI, and change the shape and future of education for future generations.
In August 2022, EdVentures invested a six-figure amount in Egyptian education technology startup OBM Education.