Ministerial Working Groups For Entrepreneurship Continue Meetings to Prepare Egypt’s Startup Charter and Facilitation Package for the Sector

Continuing the efforts of the ministerial group for entrepreneurship, chaired by the Minister of Planning, Economic Development, and International Cooperation, to enhance the working environment for startups and support a knowledge-based and innovative economy, the working groups affiliated with the ministerial group for entrepreneurship are continuing their meetings and activities with relevant stakeholders from the government sector and the startup community, to formulate final recommendations for the "Egypt's Startup Charter" and prepare a package of upcoming facilities for the sector.

 

This came within the framework of the efforts of the ministerial group for entrepreneurship , which aims to enhance the capacity of startups and the entrepreneurial environment to achieve sustainable and accelerated economic growth based on competitiveness and knowledge, contributing to the creation of decent job opportunities.

 

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, affirmed that startups in Egypt play a pivotal role in supporting innovation and promoting comprehensive and sustainable economic development. Therefore, the ministerial group for entrepreneurship is continuously coordinating with various national entities through working groups that include representatives from the startup community, in order to develop measures that stimulate the growth of these companies, enable them to increase their contribution to the national economy, and expand innovative ideas to address development challenges.

 

Over the past two weeks, the working groups and the technical secretariat of the ministerial group for entrepreneurship have held several meetings with the Ministries of Finance, Higher Education, and Scientific Research to discuss more than 35 recommendations. They also aim to hold meetings with several other entities to study the recommendations issued by the startup community for inclusion in the "Egypt’s Startup Charter" to be launched soon as a clear roadmap for policies that enhance the entrepreneurship environment by identifying specific incentives, legal frameworks, and simplified procedures for startups operating in priority sectors.

 

Additionally, the group also held two panel discussions in collaboration with Intelak, an entrepreneurship support company, and a diverse group of more than 30 startups in the fields of energy and water technology, sustainable transportation, and smart cities, with the aim of identifying policies that would maximize the benefit of linking startups with pressing development challenges, as they are priority sectors for the development of the Egyptian economy.

 

This will be followed by a number of sessions in other sectors, including tourism, industrial and agricultural technology, in order to focus on leveraging the capabilities of startups in these vital development sectors, which are among the country's priorities.

 

In another context, the ministerial group for entrepreneurship organized a workshop with the "Sigma" program affiliated with the OECD and the European Union, in partnership with the Egyptian Regulatory Reform Activity (ERRADA) on "Standards for facilitating registration and licensing procedures for startups," in the presence of a large number of entrepreneurs from more than 5 governorates, in addition to representatives from the Ministry of Investment and Foreign Trade, the Ministry of Higher Education and Scientific Research, the Information Technology Industry Development Agency, the General Authority for Investment, the Industrial Modernization Center, the Micro, Small and Medium Enterprises Development Agency, the Central Bank of Egypt, and a number of other government agencies and stakeholders in the startup sector.

 

It is worth noting that the ministerial group for entrepreneurship has held several meetings since its formation and has established an organizational framework and working groups that include various representatives of the startup community and venture capital funds. The group has signed several proposals that are set to be launched, including the "Egypt’s Startup Charter," which is a government action plan with a timeline to enhance the capabilities of startups and support them to achieve sustainable economic growth.

 

Furthermore, a proposal for a unified financing initiative to support startups has been developed, which is expected to benefit around 5,000 companies across various developmental sectors. A unified definition of startups and facilities regarding financial incentives, registration, and licensing are currently under study.