Beneficiaries of 'Your Idea Your Company' initiative amounts to 120K: GAFI chairman

CAIRO – 8 March 2023: Chairman of the General Authority for Investment and Free Zones (GAFI) Hossam Heiba stated Wednesday that the number of beneficiaries of "Your Idea Your Company" initiative had amounted to 120,000.

Those were provided with capacity-building programmes, legal advice, feasibility studies, facilitation of governmental services, and financial support. Heiba noted, during a meeting with representatives of start-ups and incubators, that the number would double in the coming period where new ways of support would be devised.

The attendees included the representatives of the Information Technology Industry Development Agency (ITIDA), USAID, Microsoft, and the American University in Cairo (AUC).

The GAFI chairman said that cooperation with start-ups would increase in the near future, given that the sector is speculated to achieve the highest rates of growth, and because of its ability to create solutions that would enhance the performance of the Egyptian economy as a whole.