FutureTECH by Raya Completes Egypt's First EV Accelerator, Linking Startups to Global Value Chains

FutureTECH by Raya, a platform under Raya Holding, in partnership with Raya Auto (the specialized arm in the electric vehicle sector and the exclusive agent for XPENG in Egypt), along with GIZ and Entlaq, has successfully concluded its first accelerator program dedicated to supporting startups in Egypt's electric mobility sector.

The program brought together 6 promising startups, carefully selected from over 30 applicants. All of them joined with initial viable products (MVPs) and clear growth potential. Over four months, these companies embarked on an intensive acceleration journey, focusing on developing their business models, validating their technologies, and enhancing their readiness to enter the market and attract investments.

The program included more than 60 hours of training and mentorship across 16 specialized sessions, where participants received practical support in areas like technical development, business strategies, and investment readiness. 

The program also featured an international and industrial dimension, with technical sessions led by electric vehicle experts from Germany. Participants also enjoyed field visits to the Raya Auto factory, and the XPENG showroom and service center, giving them direct insight into the real operational environment of the electric mobility sector.

The program wrapped up with a "Demo Day," where the startups presented their innovative solutions to a group of investors, corporate leaders, and decision-makers within the innovation ecosystem. This event was a crucial step to gauge the readiness of these solutions for expansion within Egypt's electric vehicle sector.

At the close of the events, two startups, Neo Kozmo and Watt Route, were chosen to receive a fully funded field trip to China, courtesy of Raya. Through Raya Auto, the founders will be connected with the group's partners in China, giving them access to one of the world's most advanced electric vehicle markets. This will allow them to explore the latest technologies and manufacturing systems, with the goal of supporting the transfer and localization of expertise within the Egyptian market and accelerating the development of the local electric mobility sector.

Mohamed El Naggar, CEO of Raya Auto, commented: "At Raya Auto, our role isn't just about bringing electric vehicles to the market; we are actively building an integrated ecosystem for sustainable mobility in Egypt." 

He added: "As the first authorized distributor of electric cars and the exclusive agent for XPENG, we bear the responsibility of supporting the new generation of innovation. Our participation in the accelerator program reflects our commitment to empowering innovators to help shape the future of mobility."

Meanwhile, Aya Ismail, Co-founder and Program Manager at Entlaq, stated: "What we are building at Entlaq goes beyond the concept of traditional accelerators. It relies on a data-driven model that connects analysis with real impact." 

She added: "This program directly translates the recommendations of the Clean Tech Report 2025, at a time when Egypt's electric vehicle sector is experiencing an annual growth of 19.5%, even though it still represents less than 1% of the total licensed car fleet. This highlights the need for targeted interventions that support innovation."

She explained that selecting only six companies from over 30 applicants reflects a model that combines industrial and technical expertise, providing opportunities for practical validation and strategic integration for emerging enterprises, rather than traditional training programs.

The program underscores FutureTECH by Raya's commitment to supporting innovation linked to real market opportunities, complementing Raya Auto's role in developing the electric vehicle sector, and contributing to accelerating the transition towards a technology-driven and sustainable economy in Egypt and the region.