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Arab Finance: PARAGON | ADEER, in partnership with Schneider Electric and Plug and Play Tech Center, launched the “AI 100 Program” at Egypt’s first artificial intelligence (AI) campus within Sumou Boulevard (SUMOU BLVD), following the signing of a memorandum of understanding (MoU) during an event in Cairo, as per an emailed press release.
The launch event, held on April 19th at the Khufu's Boat Museum within the Grand Egyptian Museum, brought together government officials, business leaders, and investors. Among attendees were Minister of Supply Sherif Farouk, alongside Abdulrahman Al-Qahtani, Managing Director of Sumou Investment; Saeed Al Nahdi, CEO of Sumou Holding Group; Abdullah Al-Qahtani, CEO of Sumou Suburb Company; Khaled Qaid, Chairman of Athar Holding Group; Bassel El Serafy, CEO of Adeer International; and Ahmed Helmy, CIO at the company.
From PARAGON | ADEER, Chairman Mohamed Bedeir and CEO Bedeir Rizk attended, alongside Sébastien Riez, CEO of Schneider Electric North Africa and Levant Cluster, and Karima El Hakim, Regional Director of Plug and Play Tech Center in Egypt.
Located within a mixed-use development, the AI Campus at Sumou Boulevard is designed as a collaborative platform focused on supporting growth. The campus supports cross-sector collaboration, with additional partnerships, programs, and initiatives expected in later phases.
The campus is built on three pillars: AI and innovation, education, and energy efficiency. Within this framework, the AI 100 Program is a four-year initiative targeting the development of 100 growth-stage, AI-focused startups in Egypt by 2030. The program includes bootcamps, industry and venture workshops, applied artificial intelligence training, and capital readiness tracks, alongside integration with the Sumou Boulevard AI Campus.
The program aims to support participating startups as potential tenants within the campus.
Sumou Boulevard Mixed-Use Development is being developed by PARAGON | ADEER, a joint venture between Egypt-based Paragon Developments and Saudi Arabia-based Adeer International. Backed by Sumou Investment, a subsidiary of Sumou Holding, the project marks the group’s entry into the Egyptian market through Adeer International.
The development combines residential, commercial, and technology components within a smart-city framework, designed as a model for mixed-use urban communities.
