Sunday June 4th, 2023
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Egypt’s Falak Startups Appoints Ahmed Hazem Dakroury as New CEO

Dakroury, who previously served as Falak Startup’s Head of Investment, steps into some big shoes, as he takes over from Yousef El Sammaa.

Startup Scene

Egyptian early-stage venture capital firm, Falak Startups, has appointed a new CEO. Ahmed Hazem Dakroury, who previously served as the company’s Head of Investment for 2.5 years, will take the reins from founder, Yousef El Sammaa, who has built and grown the startup accelerator into an early-stage VC model.

A driving force behind Falak’s latest investments, Dakroury has been recognised for major contribution to the company’s development into becoming a regional leader and for building a local network to support Egyptian entrepreneurs as well as the country's startup ecosystem. Having founded a startup himself and working as a financial strategist for many years prior to joining Falak’s investment team, the new CEO brings valuable experience to the company.

Commenting on his new appointal, Dakroury said: “Working with Falak’s team for over 2 years now, I am full of confidence that we will build on our success to reach new possibilities for our expanding portfolio and the whole entrepreneurship realm… I want to position Falak at the centre of the entrepreneurship world.”

Falak offers businesses up to 2 million EGP in funding as well as a tailored programme where they provide mentorship and consultations to help startups grow and build the right product, in addition to everything from legal support, business and financial modeling to market access. Previous success partner stories can be found in healthtech company Doctor Online and e-commerce business Teradix, just two of the 60 startups Falak supports.