The Egyptian government has announced a strategic suite of initiatives aimed at bolstering the nation’s burgeoning startup ecosystem, spearheaded by a new “Startup Charter for Egypt.” The move underscores the government’s commitment to positioning entrepreneurship and innovation as central pillars for economic growth and sustainable development.
The announcement followed a meeting between Prime Minister Dr. Mostafa Madbouly and Dr. Rania Al-Mashat, Minister of Planning and Economic Development and International Cooperation, to review the outcomes of the Digital Economy and Entrepreneurship Advisory Committee.
A Strategic Push for Economic Growth
Prime Minister Madbouly emphasized that supporting entrepreneurs and startups is a core component of the country’s strategy to achieve economic growth and human development targets. He stressed that innovation across productive sectors is fundamental to realizing sustainable development goals, reaffirming that the government will provide sustained and necessary support to this vital sector.
“Entrepreneurship and support for emerging companies are a central pillar for achieving economic growth and human development,” stated Prime Minister Madbouly.
Introducing the Startup Charter for Egypt
At the heart of the new government push is the “Startup Charter for Egypt.” Minister Al-Mashat explained that while existing policies under Law 152 of 2020 cater to startups in their ideation, incorporation, and early-growth phases, companies in the expansion, maturity, and exit stages require more specialized support.
The new charter is designed to fill this gap, providing a complementary framework of policies and tools specifically tailored for scale-ups and mature ventures. To ensure its effectiveness, the advisory committee held meetings with several startups to incorporate their feedback and proposals directly into the charter.
A Suite of New Support Initiatives
Alongside the charter, the ministerial group for entrepreneurship has prepared a comprehensive package of initiatives ready for launch. This integrated framework is designed to streamline support and remove obstacles for founders. Key components include:
- A unified, official definition for startups.
- A consolidated financing initiative.
- The establishment of a central executive mechanism for implementation.
- A dedicated program for companies in the scale-up phase.
- A unified government services guide for startups, titled “Navigator.”
- A single point of contact, including a dedicated website.
- The creation of an official Entrepreneurship Observatory to track progress and data.
Building on Recent Regulatory Momentum
These new initiatives build upon several recent regulatory advancements. Minister Al-Mashat highlighted key actions already announced, including an MoU between the Micro, Small, and Medium Enterprises Development Agency (MSMEDA) and the “Erada” initiative to improve the legislative environment for entrepreneurs.
Other significant steps include the Financial Regulatory Authority’s (FRA) approval for the first digital investment platform for real estate investment fund documents and a strategic partnership between the Egyptian Intellectual Property Authority and the Innovators Support Fund to champion innovation in Egypt.
About The Ministry of Planning and Economic Development
The Ministry of Planning and Economic Development is the Egyptian government body responsible for setting the country’s public investment plans, sustainable development strategies, and economic policies. It plays a crucial role in shaping the national agenda for economic growth, monitoring performance, and fostering an environment conducive to investment and innovation.
Source: Capital News
