Egyptian startups raised a total of $334 million across 84 deals in 2024, according to key findings from the newly launched “Egyptian Entrepreneurship Sector Diagnostics Report 2025” by Entlaq. The Information Technology Industry Development Agency (ITIDA), a Strategic Partner for the report’s launch in El Gouna, championed the findings. In the report’s foreword, ITIDA’s CEO, Eng. Ahmed Elzaher, stated, “Startups are engines of competitiveness, job creation, and sustainable growth. By empowering entrepreneurs, we are empowering the future of Egypt.”
A Top Destination for Venture Capital
The investment figures solidify Egypt’s position as a powerhouse in the regional tech landscape. The $334 million raised places the country among the top three destinations for venture capital in Africa. Furthermore, this activity accounted for a significant 11 percent of all venture capital flows across the entire MENA region in 2024, underscoring the ecosystem’s growing global relevance and attractiveness to investors.
A Nation of Aspiring Founders
Beyond investment data, the report reveals a deep-seated entrepreneurial culture throughout the nation. A remarkable 70 percent of Egyptians aspire to start their own business, indicating a massive talent pool with strong ambition. This trend is already manifesting in the workforce, with nearly half of the labor force currently engaged in freelance or ICT-based work, showcasing a widespread shift towards agile and independent career paths.
The Rise of Women Entrepreneurs
The report highlights a particularly strong trend of female entrepreneurship in Egypt. Women founders now represent 38 percent of all entrepreneurs in the country. The future of this trend looks even brighter, with a striking 83 percent of Gen Z women expressing the ambition to launch their own ventures. This powerful demographic shift signals a new wave of innovation and leadership poised to shape the future of the Egyptian economy.
About ITIDA
The Information Technology Industry Development Agency (ITIDA) is the executive arm of Egypt’s Ministry of Communications and Information Technology (MCIT). It is primarily focused on building the capacities of local IT companies, attracting and servicing multinational IT corporations, and developing a qualified, sustainable talent pool. ITIDA acts as a one-stop shop for foreign direct investors, promoting Egypt’s competitive advantages in the global technology market.
Source: ITIDA on LinkedIn
