Government’s incubator program attracts over 2K projects

CAIRO – 27 September 2017: Ministry of Investment’s entrepreneurship incubator has received around 2,500 pitches since the beginning of the month, Minister of Investment Sahar Nasr said Wednesday.

Speaking at a youth and employment conference in Geneva organized by the International Labour Organization (ILO), Nasr said that the program, which is named “Your Idea Your Company,” was launched in cooperation with investment bank EFG Hermes and the United Nations Development Program (UNDP) to encourage entrepreneurship in Egypt.

Dispatching a bus that includes business mentors and entrepreneurship experts, project ideas will be received until the end of September.

In July, Nasr signed an agreement with Flat6Labs and Egypt Entrepreneurship and Investment Company to invest LE 10 million ($559,070) in emerging companies.

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 that the government is committed to secure job opportunities for youth through receiving funds from international donors and offering them training to establish their own projects.