The programme gives start-ups as well as small- and medium-sized enterprises (SMEs) the opportunity to integrate into the supply chain of one of the largest and most innovative companies in the world.
The challenge is organised in partnership with UNTAP technologies, a competition management platform for innovation-driven organisations.
It set out to invite start-ups to solve two key challenges for P&G’s operations in Egypt, which are gamified solutions for small retailers and flexible employee experiences.
“Unbox Egypt received over 50 registrations of interest on the platform and resulted in 29 complete submissions and six who made it to the finals. Applications came in predominantly from Egypt, but we also received submissions from the US, Germany, India, Canada, Hong Kong, the Netherlands, Switzerland, and the UAE,” said Sabrine Assem — the CEO and co-founder of UNTAP Technologies.
Out of 52 registered start-ups, six were shortlisted to pitch their start-up and solution to a panel of experts from P&G’s leadership in the MEA in each of these respective areas of the business.
Egypt’s start-up ecosystem grew by 168 percent Y-o-Y in terms of venture capital (VC) investment to reach an all-time high record of $491 million, according to MAGNiTT’s 2021 Egypt Venture Investment Report.
As per the report’s data, Egypt placed first by the number of deals brokered in Africa during 2021 and ranked the third in total funding, with local start-ups attracting 18 percent of all VCs invested in the continent.