Saudi Arabia-based venture studio VMS has acquired a minority stake in Egyptian start-up accelerator ‘Cash Cows’ as part of a strategic partnership agreement aimed at supporting the entrepreneurial ecosystem in both countries, reports say. ‘Cash Cows’ in a press release indicated that the partnership aims to bring together resources, expertise and support to help the region’s start-ups grow and succeed. “Supporting start-ups and entrepreneurship has become a priority for the future of the Saudi economy. “Supporting start-ups is an essential part of Vision 2030. Hence, our expansion into the Saudi market through our partnership with VMS is a golden gateway to enter this promising market”, he emphasized.

Source: The North Africa Journal June 27, 2023 02:31 UTC