Egypt’s Government Engages 120 Startup Leaders to Ease Investment Challenges

Prime Minister.

Dr. Mostafa Madbouly, Egypt’s Prime Minister, convened a meeting today to discuss the preparation of the national executive program aimed at supporting entrepreneurship and innovation. The meeting was attended by Dr. Hussein Issa, Deputy Prime Minister for Economic Affairs, Dr. Ahmed Rostom, Minister of Planning and Economic Development, Dr. Heba Medhat Zaki, Director of the Egypt Center for Entrepreneurship and Innovation, along with several officials.

During the meeting, Prime Minister Madbouly emphasized that the gathering was intended to follow up on the steps toward developing a national executive program that signifies a qualitative leap in enhancing opportunities for entrepreneurship in Egypt. This initiative aims to implement supportive policies, programs, and initiatives while coordinating efforts between entrepreneurs and relevant government entities.

Dr. Hussein Issa highlighted his role as head of the ministerial group for entrepreneurship, established by the Prime Minister’s decree. He noted that multiple meetings have been held with significant interest from ministers and officials to facilitate procedures and provide financial and organizational support for young entrepreneurs with small projects, which he deemed crucial and expressed optimism about.

The Deputy Prime Minister reported on a recent meeting with 120 startup leaders who presented various challenges they face. Some issues have already been addressed by the government, while efforts are ongoing to catalog all presented challenges for resolution and to encourage small and medium-sized enterprises.

It was announced that a follow-up meeting will be held between the Deputy Prime Minister and the Minister of Planning with relevant ministers to address issues raised by entrepreneurs.

Dr. Ahmed Rostom provided an overview during the meeting regarding the preparation of the national executive program for supporting entrepreneurship and innovation through a collaborative multi-stakeholder framework. This approach aims to align the program with national priorities and the needs of the entrepreneurial ecosystem. Key strategic targets include enhancing Egypt’s position as a regional hub for sustainable innovation, increasing startup survival rates and growth, boosting youth employment, developing startup capabilities, integrating them into global value chains, fostering innovation in priority sectors, establishing regional centers outside Greater Cairo, empowering women entrepreneurs, and promoting inclusion for individuals with disabilities.

The minister also proposed creating an “Egypt Entrepreneurship Unit,” an independent governmental entity directly reporting to the Prime Minister that would serve as a central coordinator for this ecosystem.

In this context, the Prime Minister approved the establishment of this unit. The Minister of Planning confirmed that its responsibilities would include preparing and updating a national program to support startups from idea generation through maturity to exit. The unit will ensure policy consistency while addressing conflicts and proposing legislative reforms that support entrepreneurship. Additionally, it will issue and monitor service level agreements to resolve challenges within set timelines and build international partnerships to attract investment funds from local and international investors.

The Minister of Planning also presented several funding mechanisms for startups and innovative projects aimed at capacity building for those involved in entrepreneurship ecosystems as well as proposals designed to enhance public-private partnerships by integrating entrepreneurs and investors into decision-making processes.