Egyptian ministries cooperate to support entrepreneurs

CAIRO – 21 November 2017: Minister of Investment Sahar Nasr signed a memorandum of understanding (MoU) with Minister of Higher Education Khaled Abdel Ghaffar to activate "Fekretak Sherketak" (Your Idea is Your Project) entrepreneurship program in universities.

Under the MoU, the Higher Education Ministry will promote the program, while the Investment Ministry will directly contact project owners to provide them consultations and training workshops.

Several international financial institutions expressed willingness to support the program through offering grants and technical support programs, Nasr said.

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.

“Fekretak Sherketak” Initiative was launched in September by the Ministry of Investment to encourage startups and promote the entrepreneurial atmosphere in Egypt.

The program promotes the launch of the Egypt Entrepreneurship Program (EEP) in partnership with Hermes Financial Group and UNDP.

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