SelectUSA Tech, a program designed to encourage foreign direct investment into the United States, has intensified its efforts in Egypt with its inaugural tech startup pitching competition. The announcement was made by Scott Pozil, Minister Counsellor for Commercial Affairs at the US Embassy in Cairo, during a brief interview with Ahram Online at the conclusion of the SelectUSA Tech event held on Thursday.
SelectUSA is a US government initiative spearheaded by the US Department of Commerce, aimed at facilitating business investments that create jobs in the United States. Since its inception, it has contributed to the creation and sustainability of over 200,000 jobs across the country.
The SelectUSA Tech initiative assists international startups in developing innovative technological products and services with the goal of expanding into the US market within 2-3 years. Through this programme, the US Embassy in Cairo will sponsor the winning startup, offering them an opportunity to attend the SelectUSA Tech competition in the United States and the National Harbor Summit, which will take place from May 11-14 in Maryland, USA.
Pozil explained, “This initiative provides Egyptian tech startups with the opportunity to showcase their vision in the US, where they can explore the potential of establishing operations. The US market presents a unique platform for these companies to test and scale their products.” He added, “Our goal is to support their growth not just in the US, but in Egypt and beyond.”
Ruben Harutunian, Minister Counsellor for Public Affairs at the US Embassy in Cairo, emphasized that the programme offers Egyptian startups the chance to expand their businesses beyond Egypt, the Middle East, and Africa. “The US audience for this initiative is vast. We are focused on not only championing the best and brightest startups but also providing special opportunities for women leaders and students through this unique educational programme and other related opportunities in the US,” he concluded.
