The Micro, Small and Medium Enterprise Development Agency (MSMEDA) announced its ongoing support for entrepreneurs and innovators who own small and medium-sized businesses. They're really focusing on strengthening partnerships with the private sector and civil initiatives, which perfectly aligns with the government's goals to boost economic development. This announcement came as the second edition of the Athar 2026 Award is set to launch this March. MSMEDA is sponsoring the 'Excellence in Medium and Small Enterprises' category, working together with the National Alliance for Civil Development Work and sponsored by CSR Egypt. The award ceremony will celebrate companies, individuals, and organizations that contribute to sustainability and social responsibility, along with honoring outstanding innovative projects supported by MSMEDA. Basil Rahmy, MSMEDA's CEO, emphasized that the Athar 2026 Award is a fantastic platform to encourage innovation in small and medium-sized businesses. It also boosts cooperation between the public and private sectors, all for the sake of sustainable growth. He pointed out that honoring young people and entrepreneurs sends a clear message about how important self-employment is, and it encourages innovators to turn their ideas into productive, economically viable projects. Meanwhile, Dr. Hassan Mostafa, Chairman of CSR Egypt, confirmed that MSMEDA's support for the award strengthens its role in backing entrepreneurs. It also helps promote sustainable practices and encourages companies to commit to social responsibility. He explained that the award highlights initiatives that champion innovation and show a dedication to sustainable development, perfectly aligning with the goals of Egypt Vision 2030. The second edition of the Athar Award features an expanded strategic partnership with the National Alliance for Civil Development Work. This partnership really sharpens the award's focus on outstanding innovative projects and boosts its economic and social impact. It also ensures that projects chosen are genuinely viable and contribute to inspiring entrepreneurship and ambitious young people.
Related editorial
Saudi TAWAL Eyes Mobily Tower Acquisition, Set to Boost Telecom Infrastructure
Saudi Arabia's telecom scene is buzzing with a potential major deal! TAWAL, fully owned by the Public Investment Fund, is reportedly in talks to acquire over 10,000 telecom tower sites from Mobily. This significant acquisition would dramatically increase TAWAL's assets and solidify its role as the Kingdom's leading independent tower operator, driving forward Saudi Arabia's digital infrastructure expansion.
Bank NXT and EFG Hermes Launch Egypt's First Card to Blend Daily Spending with Investments
Bank NXT and EFG Hermes have teamed up to launch Egypt's first co-branded credit card. This innovative card, designed specifically for EFG Hermes ONE clients, uniquely brings together banking and securities brokerage services, offering a seamless financial experience that connects everyday spending with investment growth.
Gulf Economies and Startups: Staying Strong Amidst Global Headwinds
Even with global challenges like rising costs and supply chain issues, Gulf markets are proving incredibly resilient. They're adapting well to changes, showing their strength in a tough environment.
Infinity Secures $15M Funding to Usher in a New Era for AI Software
Infinity, a company focused on AI infrastructure, has successfully closed a $15 million seed funding round, reaching a $100 million valuation. The company is developing innovative software to enable AI models to run across various chip types, aiming to reduce reliance on dominant closed platforms and offer greater flexibility to chip manufacturers.