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Egypt's Government Plans Major Support for Startups with New Roadmap and Funding Fund

Egypt's government is really keen on creating a comprehensive plan to boost its startup scene! They want to tap into the amazing potential of young Egyptians and make sure the market can attract lots of venture capital investments. This new roadmap and funding fund are designed to make that happen, showing a strong commitment to fostering innovation and economic growth.

1 min read
Egypt's Government Plans Major Support for Startups with New Roadmap and Funding Fund

Dr. Ahmed Rostom, Minister of Planning and Economic Development, recently met with Dr. Abdel Aziz Konsowa, Minister of Higher Education and Scientific Research. They discussed ways to boost coordination between their ministries to grow Egypt's innovation and entrepreneurship ecosystem. The meeting aimed to support joint efforts by both ministries and their affiliated bodies to encourage researchers and entrepreneurs in Egyptian universities. The goal is to transform innovative ideas into real projects that contribute to the country's development journey. This initiative is part of the broader efforts by the Ministerial Group for Entrepreneurship, headed by Dr. Hussein Issa, Deputy Prime Minister, to enhance the competitiveness of the Egyptian economy. Also present at the meeting were Amr El-Abd, the Prime Minister's Advisor for Entrepreneurship; Dr. Heba Zaki, Director of the Egypt Center for Entrepreneurship and Innovation; and leaders from "NI Capital," including Mohamed Metwally, Chairman of the Board; Hazem Kamel, Managing Director of the Investment Sector; and Rafeh Saleh, CEO of the Entrepreneurship Sector. From the Ministry of Higher Education and Scientific Research, attendees included Dr. Walaa Sheta, CEO of the Science, Technology, and Innovation Funding Authority; Dr. Amr Allam, Assistant Minister for Institutional Planning and Acting Permanent Undersecretary of the Ministry; Dr. Hany Madkour, Assistant Minister for National Projects; and Dr. Mohamed El-Sharkawy, Assistant Minister for Economic Policies, along with several leaders from the Ministry of Planning and Economic Development.

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