Egypt’s hub for technology and innovation, GrEEK Campus, and Cairo-based workspace provider, MQR, announced a definitive merger agreement to establish Egypt’s largest member community of entrepreneurs.
The two brands will continue to operate independently under a centralized leadership.
The network effect of the companies’ combined 14 locations will provide members with the ability to expand their network, build new relationships, and uncover new business opportunities.
The agreement was finalized by the investor, and entrepreneurial leader Ahmed El Alfi, the Chairman and Founder of The GrEEK Campus, and Muhammad Nagi, CEO and Co-Founder of MQR, in a signing ceremony held at The GrEEK Campus in Downtown Cairo.
The merged entities have a combined 50,000+ square meters of commercial space across Egypt and a total resident community of 3,500+ members representing 450+ companies.
The coming 12 months will see the establishment of several new projects and the rollout of a brand-new workspace concept and comprehensive and integrated design-build, furnishing and procurement services.
Furthermore, the combined companies are set to launch streamlined services through an online platform that allow members tosearch and book workspace and exclusive events and perks. The platform is expected to launch in 2024.
“By joining forces, we aim to create a stronger and more supportive ecosystem for businesses to grow and succeed. This collaboration represents a new era of cooperation and innovation in the workspace industry, and we believe it will help our member companies drive economic growth and create new jobs,” said Ahmed El Alfi, Chairman and Founder of The GrEEK Campus.
From 2010 to 2013, El Alfi founded or co-founded Sawari Ventures, Cairo-based technology venture capital firm investing in high-impact businesses to transform regional economies: Flat6Labs, MENA’s leading seed and early stage venture capital firm with presence in 7 countries; Nafham, one of MENA’s top online education platforms and The GrEEK Campus.
Since its beginning in 2013, The GrEEK Campus has helped create vibrant and supportive environments where members have access to funding and mentorship, networking opportunities, and resources and support for development.
“Becoming a member at any MQR or The GrEEK Campus location means joining a strong and supportive ecosystem of like minded individuals and gaining access to member-exclusive networking events, investment opportunities and business support services.” said Muhammad Nagi, Co-Founder and CEO of MQR.
Since 2012, MQR has been among forerunners in the coworking space and has successfully built strategic partnerships with a diverse portfolio of real-estate developers to expand into 12 locations across Egypt
“Our new combined offering to our real estate partners will accelerate our expansion and seamlessly plug into any location,” said Sherif Ashraf, Co-Founder and COO of MQR.
Source: WAYA Media
