Egypt launches funding, training programmes to empower startups

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Egypt - Hossam Heiba, Head of the Permanent Unit for Entrepreneurship and Startups and CEO of the General Authority for Investment and Free Zones, emphasised the unit’s commitment to enhancing cooperation among all entities involved in entrepreneurship activities from the public and private sectors.

This collaboration aims to create an attractive environment for startups capable of driving the growth of the Egyptian economy.

During a ceremony hosted by “Entelaq” for the release of the semi-annual performance report on the entrepreneurship sector in Egypt, Heiba announced that the unit is launching several initiatives to secure the necessary funding for the development and support of the startup sector. In addition to financial support, the unit is designing specialized training programmes to equip young entrepreneurs with the skills needed to turn their ideas into real projects.

Heiba also noted that the unit is preparing a proposal for a package of incentives to support startups across all sectors. The unit aims to improve the legislative and regulatory framework to foster a more supportive environment for entrepreneurship, aligning with the Egyptian government’s goals of empowering youth, creating job opportunities, and ensuring the availability of goods and services in the Egyptian market.

The ceremony was attended by Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation; Mohamed Farid, Chairperson of the Financial Regulatory Authority; Basel Rahmi, CEO of the Micro, Small, and Medium Enterprises Development Agency; Ahmed El-Zaher, CEO of the Information Technology Industry Development Agency (ITIDA); and Mohamed Ehab, CEO of Entelaq.