Latest news with #StartupCharter
Egypt Independent
a day ago
- Business
- Egypt Independent
PM: Egypt's role in global entrepreneurship community spotlighted
Prime Minister Mostafa Madbouly underscored the pivotal role played by the Ministerial Group for Entrepreneurship in developing a well-structured approach toward startups and entrepreneurs based on the best global experiments. The move aims to achieve sustainable economic growth and spotlight Egypt's role as a key player in the global entrepreneurship community in order to enhance entrepreneurs' confidence and attract more investors and investments into the Egyptian market, he added. Madbouly's remarks came while chairing a meeting of the Ministerial Group for Entrepreneurship on Monday, June 2nd, 2025. The meeting was attended by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Amr Talaat, Minister of Communications and Information Technology, Ayman Ashour, Minister of Higher Education and Scientific Research, Ahmed Kouchouk, Minister of Finance, Sherif Farouk, Minister of Supply and Internal Trade, Hassan El-Khatib, Minister of Investment and Foreign Trade along with a number of senior state officials. During the meeting, Mashat, presented a report highlighting positive indicators in many startups in Egypt. She noted significant progress in the first five months of this year, with startups attracting approximately $228 million in funding through 16 deals—11 of which totaled $156 million. This marks a 130% increase, compared to the same period in 2024. The minister also outlined the key points of Egypt's forthcoming Startup Charter, which will be launched soon. The Charter aims to build trust between startups and the government by clearly committing to the system's priorities as well as coordinating efforts by different government bodies to create a more efficient, transparent, and innovation-friendly environment in a move meant to serve entrepreneurship, she added.
Middle East
2 days ago
- Business
- Middle East
OPEN// PM: Egypt's role in global entrepreneurship community spotlighted
CAIRO, June 2 (MENA) - Prime Minister Mostafa Madbouly underscored the pivotal role played by the Ministerial Group for Entrepreneurship in developing a well-structured approach toward startups and entrepreneurs based on the best global experiments. The move aims to achieve sustainable economic growth and spotlight Egypt's role as a key player in the global entrepreneurship community in order to enhance entrepreneurs' confidence and attract more investors and investments into the Egyptian market, he added. The premier's remarks came while chairing a meeting of the Ministerial Group for Entrepreneurship on Monday. The meeting was attended by Kamel El-Wazir, Deputy Prime Minister for Industrial Development and Minister of Industry and Transport, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, Amr Talaat, Minister of Communications and Information Technology, Ayman Ashour, Minister of Higher Education and Scientific Research, Ahmed Kouchouk, Minister of Finance, Sherif Farouk, Minister of Supply and Internal Trade, Hassan El-Khatib, Minister of Investment and Foreign Trade along with a number of senior state officials. During the meeting, Mashat, presented a report highlighting positive indicators in many startups in Egypt. She noted significant progress in the first five months of this year, with startups attracting approximately $228 million in funding through 16 deals—11 of which totaled $156 million. This marks a 130% increase, compared to the same period in 2024. The minister also outlined the key points of Egypt's forthcoming Startup Charter, which will be launched soon. The Charter aims to build trust between startups and the government by clearly committing to the system's priorities as well as coordinating efforts by different government bodies to create a more efficient, transparent, and innovation-friendly environment in a move meant to serve entrepreneurship, she added. (MENA) Y R E/R E E
Egypt Today
3 days ago
- Business
- Egypt Today
Egypt's Startup Ecosystem Accelerates with $228M during 2025
CAIRO – 1 June 2025: Egypt's entrepreneurial landscape is experiencing a powerful surge, with startups attracting $228 million in venture capital and debt financing during the first five months of 2025. This upward momentum, announced by the Ministerial Group for Entrepreneurship, signals renewed confidence among investors and growing resilience in the Egyptian innovation economy. Between January and May 2025, 16 investment deals were closed, of which 11 were publicly disclosed, amounting to $156 million—a 130 percent increase over the same period last year. Alongside equity injections, top startups such as Nawy and MNT-Halan secured notable debt financing rounds worth $23 million and $49 million, respectively. Speaking on the occasion, Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and Chair of the Ministerial Group, underscored the government's unwavering commitment to fostering a robust and inclusive startup ecosystem. She emphasized that this support is driven by a clear national vision, led by President Abdel Fattah El-Sisi, to position Egypt as a competitive regional hub for innovation. Dr. Al-Mashat also revealed that the Ministerial Group is nearing the completion of the Startup Charter, which will set the groundwork for a more enabling environment. Complementary funding mechanisms and support facilities are being developed to attract further capital and support early-stage growth. In parallel, the government has rolled out tax incentives for startups with annual revenues under EGP 20 million, aiming to ease operational pressures and accelerate scalability. Beyond financial incentives, the Group's strategy focuses on empowering youth and enhancing Egypt's global entrepreneurial standing. The approach is not only economic but also strategic, emphasizing competitiveness, knowledge-based development, and sustainable growth. The first five months of the year also saw pivotal movements in Egypt's startup market, particularly in the area of exits and acquisitions. Among the standout deals were Dubizzle's acquisition of Hatla2ee, a key player in online car sales, and the acquisition of Fatora, a digital invoicing platform, by MaxAB-Wasoko. These developments point to a maturing market, where consolidation and strategic scaling are becoming more prevalent. Sector-wise, PropTech led in capital attracted, drawing 33 percent of total venture investment, while FinTech dominated by deal count, with five transactions accounting for 32 percent of the funding activity. These figures underline the diversity and sectoral dynamism of Egypt's startup environment, offering promising signals for sustained growth and innovation in the months ahead.
See - Sada Elbalad
3 days ago
- Business
- See - Sada Elbalad
Ministerial Group for Entrepreneurship: Egyptian Startups Attract $228M in Funding from January to May 2025
Ahmed Emam The Ministerial Group for Entrepreneurship announced that Egypt's startup structure witnessed significant development in attracting venture capital investments and debt financing during the first five months of this year, reaching $228 million, based on deals monitored since the beginning of the year. A statement issued by the Ministerial Group for Entrepreneurship clarified that 16 deals were executed from January to May 2025, including 11 deals with announced investment volumes totaling $156 million. These investments represent a 130% increase compared to the investment volume during the same period last year (2024). Moreover, "Nawy" and "MNT-Halan" successfully secured debt financing of $23 million and $49 million, respectively. In this context, Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation, and head of the Ministerial Group for Entrepreneurship, affirmed that these indicators reflect the continuous activity in Egypt's startup market, particularly with the measures taken by the state to improve the investment climate and business environment, making it more conducive and attractive for companies of all types. This is in addition to ongoing endeavors to implement structural reforms to ensure sustainable macroeconomic stability. Al-Mashat pointed out that startups and the investment climate, in general, receive paramount attention from the Egyptian state, led by H.E. President Abdel Fattah El-Sisi, President of the Republic of Egypt, and various relevant authorities. She highlighted that the Ministerial Group for Entrepreneurship is working on finalizing the Startup Charter, as well as funding initiatives and facilities that stimulate efforts to attract venture capital investments. Al-Mashat also reiterated that the Egyptian government has taken significant steps to empower startups and enhance their ability to attract larger investments, notably including tax incentives for companies with revenues less than EGP 20 million. Minister Al-Mashat noted that the Ministerial Group for Entrepreneurship adopts a comprehensive and integrated approach to support Egyptian youth in the field of entrepreneurship. The Ministerial Group's main objective is to strengthen the ability of startups and the entrepreneurial environment to achieve sustainable and accelerated economic growth based on competitiveness and knowledge, as part of the state's plan to put Egypt on the global map of entrepreneurship. In a related context, Egypt's startup market underwent a series of exit and acquisition deals, most notably Dubizzle's acquisition of the online car trading platform "Hatla2ee," and MaxAB-Wasoko's acquisition of "Fatora." The PropTech (property technology) sector led in terms of venture capital investment volume, accounting for 33% of total investments, while the FinTech (financial technology) sector led in the number of deals with 5 transactions, representing 32% of the total investment volume during the same period. It is worth noting that the government launched the Ministerial Group for Entrepreneurship with the aim of fostering the entrepreneurial environment and promoting startups through launching new initiatives and proposals, aiding startups, coordinating efforts among government entities, and formulating supportive policies for entrepreneurship. read more Gold prices rise, 21 Karat at EGP 3685 NATO's Role in Israeli-Palestinian Conflict US Expresses 'Strong Opposition' to New Turkish Military Operation in Syria Shoukry Meets Director-General of FAO Lavrov: confrontation bet. nuclear powers must be avoided News Iran Summons French Ambassador over Foreign Minister Remarks News Aboul Gheit Condemns Israeli Escalation in West Bank News Greek PM: Athens Plays Key Role in Improving Energy Security in Region News One Person Injured in Explosion at Ukrainian Embassy in Madrid News Ayat Khaddoura's Final Video Captures Bombardment of Beit Lahia News Australia Fines Telegram $600,000 Over Terrorism, Child Abuse Content Sports Former Al Zamalek Player Ibrahim Shika Passes away after Long Battle with Cancer Sports Neymar Announced for Brazil's Preliminary List for 2026 FIFA World Cup Qualifiers News Prime Minister Moustafa Madbouly Inaugurates Two Indian Companies Arts & Culture New Archaeological Discovery from 26th Dynasty Uncovered in Karnak Temple Business Fear & Greed Index Plummets to Lowest Level Ever Recorded amid Global Trade War Arts & Culture Zahi Hawass: Claims of Columns Beneath the Pyramid of Khafre Are Lies News Flights suspended at Port Sudan Airport after Drone Attacks News Shell Unveils Cost-Cutting, LNG Growth Plan
Zawya
28-01-2025
- Business
- Zawya
Egypt to bolster entrepreneurship ecosystem, accelerate economic growth
Cairo – Rania El-Mashat, Egypt's Minister of Planning, Economic Development, and International Cooperation, unveiled plans to back startups and enhance the entrepreneurship ecosystem. The Ministerial Group for Entrepreneurship reviewed ways to boost sustainable and accelerated economic growth while creating job opportunities. El-Mashat stated that the discussions would be reflected in the Startup Charter, which is currently being finalised to become a clear roadmap to improve investor confidence in the opportunities available for startups in Egypt. This aligns with the government's efforts to advance the National Structural Reform Programme, which aims at empowering the private sector and creating a favourable business environment. She stressed Egypt's commitment to supporting the entrepreneurship sector, particularly startups, amid the revolution in AI-based services. Egypt is one of the largest markets in the MEA region that offers competitive operational costs and possesses all the ingredients to become a regional hub for startups.
