Nasr to establish incubations for youth projects in 6 cities

CAIRO – 18 July 2017: Minister of Investment discussed with Flat6labs launching an initiative in six governorates to establish incubations for youth projects, a Tuesday statement read.

In her meeting with Flat6labs and Sawari Ventures, Sahar Nasr discussed the implementation of the agreement inked with Flat6Labs and Egypt Entrepreneurship and Investment Company to invest LE 10 million ($559,070) in emerging companies.

The minister highlighted that the deal aims to encourage the private-sector investments in Egypt through encouraging innovation and supporting entrepreneurs, which target empowering youth and creating job offers for the Egyptian youth in all the state’s governorates.

Nasr stressed on the importance of supporting the small and medium enterprises (SMEs) and the emerging companies especially in the neediest governorates in Upper Egypt, as it has a vital role in providing job vacancies for youth and women.