Expert: Egyptian Startups Need More Support to Expand Globally

Dr. Majed Ghoneim, an entrepreneurship expert, shared that he participated in the SelectUSA conference. This event, organized by the U.S. Department of Commerce, is the largest investment gathering in the United States, bringing together investors and companies from around the world to explore new opportunities and expand into the American market. He explained in a LinkedIn post that Egypt has many important strengths, like its excellent geographical location, natural resources, and educated, ambitious youth. However, he noted a delay in export indicators compared to other countries such as Morocco and Turkey. He pointed out that the current situation requires focusing on production in the industrial, mining, and agricultural sectors to boost the economy and increase export capacity. He emphasized that the future of the Egyptian economy relies on a knowledge-based economy, by leveraging the minds and innovations of young people to produce Egyptian products that can compete globally. He added that ongoing efforts are being made through EXPND's branch in America, M Empire companies, and several collaborating startups and small businesses. Their goal is to open real pathways for Egyptian innovators in the American market, after attracting investments to support this direction. He stressed that these efforts need broader partnerships from the private sector and investors, along with a greater role from government institutions to simplify procedures and support export expansion. He concluded by affirming that supporting startups is one of the key elements to strengthening Egypt's presence in global markets.