42 start-ups founded under ‘Fekretak Sherketak’ program

CAIRO – 7 December 2017: "A number of 42 entrepreneurial companies were established in 13 governorates under the Ministry of Investment’s start-up program 'Fekretak Sherketak'," chairman of Egypt Ventures Shehab Marzban said Thursday.

Speaking to Egypt Today, Marzban said that each company has received between LE 100,000 and LE 500,000 in funds, “which gives more hope in the investment climate in Egypt,” he added.

"'Fekretak Sherketak' program received more than 3,000 company pitches," Marzban said on the sidelines of the Africa 2017 Forum, currently taking place in Sharm El-Sheikh.

“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.