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Akhdar, a Book Summary App Secures Six (6) Figure Funding in Egypt

akhdar

The book summary mobile app Akhdar, a startup in Egypt announces it has raised a six-figure investment from EdVentures. A venture capital firm under Nahdet Misr Publishing Group based in Egypt.

Akhdar is a 2017 founded tech company started by Mohamed Osama, Akhdar. Their idea initially started as a YouTube channel that summarized books through short and engaging videos. This helped readers grasp the key points presented in books.

It has recently launched a mobile application that features hundreds of videos for audio and printed books covering more than 16 different genres.

The platform basically simplifies content from various books and presents them in a more engaging way to younger readers.

Mohamed Osama, the founder of Akhdar said, “Akhdar started with the aim of providing simplified summaries and information about different books for people who didn’t have time to read. Back then, we didn’t have a very clear vision of what we wanted to achieve.”

He continued that they worked very hard with the limited resources at hand to build Akhdar for them to be able to continue presenting useful content.

akhdar
image source: Akhdar app facebook

Thanks to the undisclosed exact investment, Osama said, “Now, we are quite excited about the coming period, our new partnership with EdVentures will definitely add a lot to our business especially with Nahdet Misr’s extensive experience in education and content creation.”

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The grateful startup founder added that the investment will be directed to enrich their library with various new categories and topics. And in addition to offering readers a smart learning experience, they are expecting that readers make the most out of the content available on the platform.

In a press release circulated, Dalia Ibrahim, the founder of EdVentures and CEO of Nahdet Misr Publishing House commented that,

“EdVentures is always keen to support and nourish educational startups; hence, we see this investment as a new brick we add to enrich the readers’ community with a smart and fun learning experience. Akhdar will use it to enhance its online application through the usage of gamification and other new Edtech features to provide more engaging content and an enhanced user experience. We will also be working closely with the team to further expand their services in order to cover a wider range of users.” 

VC firm EdVentures, is widely known to support and invest in startups specializing in education, culture, and innovative learning solutions in Seed and Pre-Series A rounds focusing on Egypt, Africa, and the Arab World.

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It tends provides financial and technical support to startup companies so to enhance their success and continuity in the ever competitive market.

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NEWS

The Global Tommy Hilfiger Fashion Frontier Challenge Calls for Applicants, Chance to Win €200K

Tommy Hilfiger announces launch its third annual global Tommy Hilfiger Fashion Frontier Challenge, supporting entrepreneurial startup and scale-up stage companies developing solutions and making the fashion landscape more inclusive.

Its mission according Tommy Hilfiger, is creating a fashion that Wastes Nothing and Welcomes All. The fashion frontier challenge will support entrepreneurs who are standing up for what they believe in and are committing to driving change in their communities.

The prizes for winners of the Tommy Hilfiger Fashion Frontier Challenge aim at financing and providing knowledge to grow their business ideas.

Tommy Hilfiger Fashion Frontier Challenge
image cource: Tommy Hilger facebook

Launched in 2018, the third edition of the this fashion challenge endeavours to support black, indigenous and people of color entrepreneurs, especially those working to advance their communities and nurture a more inclusive future of fashion.

After the outdooring of the initiative Mr Tommy Hilger said that,

“I have been inspired by this talented group of social entrepreneurs whose innovations are making the fashion landscape more inclusive and sustainable.”

All interested fashion entrepreneurs are welcome to submit their applications which focus on creating an inclusive fashion value-chain.

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Successful applicants are going to be narrowed down to six finalists and invited to virtually develop their project plans with the assistance of dedicated Tommy Hilfiger and external subject matter experts. There will be coaching from an experienced pitch coach, and the finalists will pitch their final concept to a prestigious jury panel and associate audience at the worldwide Tommy Hilfiger Fashion Frontier Challenge final event, slated for early 2022.

What does Tommy Hilfiger consider a startup and a scale-up?

The Startup: The business should be in its early stages, it’s yet to reach product-market fit, still experimenting with customer segmentation and working toward overall positive contribution margin but you are making some revenue.

The Scaleup: The company has a validated product with product-market fit with a clear and sustainable unit economics (outlook), and it is in a growth-mode. You must have made revenue for at least a year.

Tommy Hilfiger Fashion Frontier Challenge
Lewis Hamilton modeling a Tommy Hilfiger apparel. image cource: Tommy Hilger facebook

The process

  • After applying, successful applicants will be notified in June 2021 to progress to the second round of the Tommy Hilfiger Fashion Frontier Challenge.
  • Once selected, participants provide additional information regarding their business enterprise, including a one-minute pitch video.
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Note: Applications should be in English and business pitch also in English.

Progressing further will be six (6) finalists who are invited to further develop their business or project plans during a digital Design Sprint with the support of a team of dedicated internal Tommy Hilfiger associates and external specialists in October 2021.

Each finalist will pitch their concept at the global Tommy Hilfiger Fashion Frontier Challenge final event in early 2022, with a chance to win the prize package.

The Prize Package

  • Win up to €200,000 and a chance at an additional €15,000 prize for winning the “Audience Favorite Vote”
  • A year-long mentorship with Tommy Hilfiger’s internal experts globally and access to Tommy Hilfiger’s network brand association
  • A place on the INSEAD Social Entrepreneurship Program (ISEP)
  • Year-long INSEAD mentorship

The Tommy Hilfiger Fashion Frontier Challenge application closes at midnight of 8th March, 2021.

CLICK HERE TO APPLY

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