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ArabFinance: Egyptian on-demand service 1Trolley was among the top five winners of the European Bank for Reconstruction and Developments (EBRD) first Start-up Innovation Challenge, according to the bank.
The competition aimed to recognize how small businesses responded to the COVID-19 pandemic.
1Trolley was the only Arab winner of the EBRDs first online competition for startups that innovated their business models in response to the crisis.
The winners are offered a total of $500,000 (EGP 7.85 billion) of mixed cash rewards and vouchers to cover the costs within the framework of the EBRDs Star Venture programme. This would include business diagnostics, tailored one-on-one technical advisory, mentoring, access to international investors, and other benefits.
The 1Trolley platform drives digitization of its partners from demand generation to last mile experience. This enables bullet delivery of products as well as instant access to various services, according to a February 25thpress release.
Judges of the EBRD Innovation Challenge had to choose between 226 participants from 30 countries where the European lender invests.
*At press time, the conversion rate is $1 = EGP 15.70
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