The Ministerial Group for Entrepreneurship announces receiving 30 applications for Startup Classification Certificates

Within less than 48 hours of launching the “Egypt’s Startup Charter”…
The Ministerial Group for Entrepreneurship announces receiving 30 applications for Startup Classification Certificates

The Ministerial Group for Entrepreneurship announced that it has received 30 applications from companies seeking to obtain the Startup Classification Certificate (Startup ID) through the Micro, Small and Medium Enterprise Development Agency (MSMEDA), less than 48 hours after the launch of the “Startup Charter,” the first of its kind in Egypt.

“Egypt’s Startup Charter” provides two tracks for applying for the classification certificate. The first is a fast-track process completed within five days, designated for companies nominated by accredited entities such as venture capital funds, incubators, and accelerators. The second track takes two weeks and is available to all companies that meet the criteria for startup classification. Startups can apply for the classification certificate through the following link: https://startup.gov.eg/

In this context, H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Head of the Ministerial Group for Entrepreneurship, pointed out that the strong demand from startups to obtain the classification certificate reflects the effectiveness of the facilitation measures included in “Egypt’s Startup Charter,” and confirms that discussions held over more than a year have resulted in initiatives that genuinely meet the needs and aspirations of companies.

H.E. Dr. Al-Mashat added that the classification certificate enables startups to benefit from the facilitations stipulated in laws and legislation, in addition to tax incentives. These include dealing with dedicated tax offices for startups to accelerate services and improve communication, as well as facilitations related to labor offices, and the simplification of investment procedures in general.

According to the Charter, a startup is a newly established company characterized by rapid growth, flexibility, and innovation, aiming to introduce or develop an innovative product, service, or business model in the market. The definition includes 6 key criteria for identifying startups: being an innovative company; having a legal form that allows for investment; being established less than 7 years ago; having potential for rapid growth; being based on technology or intellectual property; and working to solve a clear problem in the market.

The classification certificate is valid for 3 years and is then renewed every two years until seven years have passed since the company’s establishment, after which the company transitions to the expansion stage.

For his part, Mr. Basel Rahmy, CEO of MSMEDA, noted that the Agency’s Board of Directors, chaired by the Prime Minister, approved the unified definition of startups and the criteria and parameters governing that definition based on joint cooperation with all members of the Ministerial Group for Entrepreneurship and the formed working teams. This was achieved through consensus reached via community dialogue and in light of the special nature of startups. The adoption of this definition aims to develop targeting mechanisms and design a specialized package of financial and non-financial programs to support Egyptian startups in growth and expansion.

Rahmy reaffirmed MSMEDA’s commitment to supporting startups and Egyptian entrepreneurs, which was clearly demonstrated by the launch of the first “Fund of Funds”. It is the first of its kind in Egypt, dedicated to investing in investment funds across the various stages of startups.

He also mentioned that the companies applying for startup classification certificates operate across diverse sectors, including artificial intelligence, energy, education, manufacturing technology, financial technology, and e-commerce.