The Egyptian startup ecosystem is set to receive a significant injection of capital, with the European Union committing €200 million to foster and develop entrepreneurship in the country. The announcement was made by Alaa Ezz, Secretary-General of the Federation of Egyptian Chambers of Commerce, during the Techne Summit held in Alexandria from October 4th to 6th.
Fostering Cross-Continental Collaboration
The new funding aims to bridge the gap between local innovation and international markets. Upcoming projects will focus on connecting Egyptian entrepreneurs with their European counterparts to facilitate knowledge sharing and partnership opportunities. A key component of this initiative is the launch of the “Hafez” platform, a dedicated portal designed to provide startups and founders with crucial information regarding available financing and grants.
Governmental Support and Digital Egypt Vision
This European support aligns with Egypt’s national strategy to bolster its digital economy. Dr. Amr Talaat, Minister of Communications and Information Technology, reiterated at the summit that nurturing startups is a strategic priority within the “Digital Egypt” framework. He highlighted the nation’s growing infrastructure, which now includes 24 “Digital Egypt Innovation Centers” across 21 governorates. In 2025 alone, the ministry has incubated 790 startups, supported 69 companies in developing prototypes, and provided training for 25 entrepreneurs.
A Leading Hub for Investment and Talent
The government’s focus is yielding tangible results, with Egypt ranking first in the Arab region for attracting startup investments during the first half of 2025. This success is supported by a strong commitment to talent development. According to Minister Talaat, 480,000 young individuals were trained in the last fiscal year, with a goal to train another half a million this year through a free national initiative. Further solidifying its global presence, the ministry is also supporting 24 Egyptian startups to participate in the upcoming Web Summit in Portugal.
The Role of Techne Summit
The announcement was made at the Techne Summit in Alexandria, a major event for the regional tech community. The conference brought together 350 speakers and 150 investors from over 70 countries to discuss the latest trends in technology and entrepreneurship, providing a powerful platform for Egyptian startups to connect with global stakeholders. Ahmed El-Wakil, President of the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME), emphasized that startups have become the backbone of the modern economy and a primary driver for growth and job creation in the region.
About The Federation of Egyptian Chambers of Commerce
The Federation of Egyptian Chambers of Commerce (FEDCOC) is a public entity that represents the interests of the Egyptian private commercial and industrial sectors. It works to support and develop the business environment in Egypt by providing services, advocating for policy reforms, and fostering trade and investment both locally and internationally.
Source: Al Borsa News
