TatweerMisr, GEN establish entrepreneurship center for LE 120M

CAIRO – 11 November 2018: TatweerMisr Company and Global Entrepreneurship Network (GEN) signed a Memorandum of Understanding (MoU) to establish a center for entrepreneurship and innovation at an investment cost of LE 120 million.

GEN will manage the center within the university campus slated to be built as part of the educational zone, on an area of 90 feddans in the Bloomfields project in the future City, which is worth LE 25 billion.

Minister of Investment Sahar Nasr, CEO of TatweerMisr Ahmed Shalaby and Head of Global Entrepreneurship Network Jonathan Ortmanz laid the foundation stone to mark the start of the first campus building on Bloomfield's projects.

The center will include several technological laboratories, advanced work units, joint work and innovation spaces, research and study groups, gyms, restrooms, meeting rooms, training rooms and a central square where various events will take place.

Laying the foundation stone of the center coincides with the opening of the World Entrepreneurship Week. For a whole week in November each year, around 10 million people globally participate in 35,000 events, activities, competitions and conferences in more than 170 countries around the world to achieve those goals.

The minister pointed out that the government’s priorities are to support entrepreneurs, especially those who provide new and innovative solutions to meet challenges facing the country in various sectors, stressing the importance of working to empower young people, support small-scale investors and create an integrated system to support entrepreneurs and innovation.

“The Global Entrepreneurship Network aims to bring in the best programs and initiatives, and connect Egyptian entrepreneurs and their specialized communities of supporters, entrepreneurs and investors working in more than 170 countries around the world,”Ortmanz stated.

For his part, Shalaby said that the Entrepreneurship Center will be designed to become an incubator for Egyptian youth to support innovation that is central to entrepreneurship.

“Through our partnership with the Global Entrepreneurship Network, we aim to create a creative space fostering innovative opportunities to achieve a better future for young people in the Middle East,"Shalaby added.