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This unit, led by the CEO of the General Authority for Investment and Free Zones (GAFI) under the Cabinet, will act as a unifying platform for various entities involved in entrepreneurship in Egypt. It will also facilitate interactions between young individuals, entrepreneurs, and emerging companies.
To nurture entrepreneurship in Egypt, Prime Minister Mostafa Madbouly highlighted the establishment of a dedicated unit for entrepreneurship and emerging companies. For the last four years or so, the Northern African country has attracted USD2 Billion towards nurturing entrepreneurship.
This unit, led by the CEO of the General Authority for Investment and Free Zones (GAFI) under the Cabinet, will act as a unifying platform for various entities involved in entrepreneurship in Egypt. It will also facilitate interactions between young individuals, entrepreneurs, and emerging companies.
The proposed unit will have responsibilities including the development of appropriate policies, laws, and regulations to support the growth of emerging companies in Egypt. The unit will be actively working on defining startups and entrepreneurship projects to streamline the issuance of classification certificates and ensure that startup companies avail benefits extended by the government.
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The unit has developed an integrated platform that consolidates services and procedures from various government agencies, offering comprehensive information about the supportive work environment for entrepreneurship in Egypt. Importantly, the government has restructured Egypt Ventures to address entrepreneurs’ financing challenges. Egypt Ventures is an investment platform that provides adequate funding for pioneering projects in Egypt. Already, multiple startups and collaborations with governmental and non-governmental service providers are functioning to offer technical support and specialized consultations to entrepreneurs.
