Egypt’s Ministry of Higher Education and Scientific Research is accelerating its support for the nation’s burgeoning startup ecosystem through its “GEN Z” program. In a recent meeting with qualifying student teams, officials announced significant progress from the program’s first season, underscoring a commitment to converting academic innovations into competitive, market-ready companies in line with Egypt’s Vision 2030. The initiative is spearheaded by the Innovators and Geniuses Support Fund.
Key Milestones From Inaugural Season
Dr. Tamer Hamouda, Executive Director of the Innovators and Geniuses Support Fund, detailed the tangible outcomes achieved during the program’s first cohort. These achievements provide a strong legal and financial foundation for the emerging companies to launch and scale.
Key results include the approval of contracts for 44 incubated startups, the disbursement of essential operating capital to these companies, and the successful official registration and acquisition of commercial licenses for 24 new ventures. This progress moves the startups from the ideation phase to legally recognized entities poised for market entry.
A National Platform for Student Entrepreneurs
Dr. Hossam Othman, Deputy Minister of Higher Education for Innovation and Scientific Research, emphasized that GEN Z is more than a competition; it is an integrated journey of training and support. He highlighted the program’s role as a national platform for discovering talent and creating an environment where student ideas can evolve into successful enterprises.
Among the qualifying teams in the latest phase was H&F LUXOR from Tiba Technology University. Dr. Adel Zain El-Din, President of the university, praised the initiative’s impact.
“The participation and qualification of a team from Tiba Technology University for the establishment and investment phase within the ‘GEN Z’ program is evidence that technology universities are on a steady path towards their ultimate goal, which is to graduate entrepreneurs capable of innovation and effective contribution to the national economy,” said Dr. Zain El-Din.
Strategic Partnerships Bolster Founder Development
To further enhance the program, GEN Z has established key partnerships to provide founders with specialized skills. Representatives from ALX, an African tech and entrepreneurship training organization, outlined the advanced management and technology courses planned for the participating teams.
Additionally, Dr. Wiam Mahmoud, Executive Director of the Institutional Innovation Unit, confirmed that specialized workshops will be organized in collaboration with the Ministry of Investment. These sessions, held through the “Fekretak Sherketak” (Your Idea is Your Company) outlets, are designed to streamline legal and procedural hurdles for the newly formed companies. The meeting concluded with an open dialogue, where officials and students discussed the primary challenges of startup creation and strategies to overcome them.
About GEN Z Initiative
The GEN Z program is a national initiative launched by Egypt’s Ministry of Higher Education and Scientific Research and managed by the Innovators and Geniuses Support Fund. It is designed to discover, nurture, and fund student entrepreneurs across Egypt, providing them with a comprehensive support system that includes training, mentorship, and funding to transform their innovative ideas into legally registered and commercially viable startups.
Source: filgamaa
