SODIC, a leading real estate developer in Egypt, and Alfanar, a philanthropic organization, have announced the launch of the Environmental Social Enterprise Seed Cycle 2023, Invest-Gate reports.

The program aims to identify innovative social enterprises that address environmental challenges and create employment opportunities for disadvantaged women and youth.

The program spans six months, during which applicants will engage in a competitive application screening and pitching process, followed by four months of Alfanar’s Sustainable Social Enterprise Training (ASSET).

Moreover, the training will include tailored workshops and one-on-one sessions for the five selected social enterprises. Based on performance and assessment results, two candidates will receive further business planning and eligibility for longer-term funding.

For his part, SODIC’s General Manager, Ayman Amer, expressed his excitement over the launch of the environmental round of SODIC’s Seed Cycle. He noted that the program is fundamental in finding grassroots organizations with real potential to impact the ground.

Amer also highlighted SODIC’s partnership with Alfanar, which aligns with its core values and commitment to empowering the right social enterprises.

Also, Myrna Atalla, Alfanar’s Executive Director, echoed Amer’s enthusiasm, stating that SODIC’s commitment to backing innovative enterprises across Egypt to scale lasting solutions to significant social and environmental issues is exactly the sort of leadership and forward-thinking vision the social enterprise ecosystem needs.

It is noteworthy that SODIC and Alfanar have been successful partners since 2009. The launch of the Seed Cycle program is a testament to their commitment to supporting the growth of ambitious social enterprises and promoting sustainable development in Egypt.