Egypt’s Innovators and Geniuses Support Fund (ISF) has announced a series of significant achievements and new initiatives aimed at bolstering the nation’s innovation and entrepreneurship landscape. In a comprehensive review of its recent activities, the fund detailed the launch of a new venture capital fund, extensive support for student and researcher-led startups, and numerous strategic partnerships to bridge the gap between academia and industry.
Dr. Tamer Hamouda, Executive Director of the ISF, highlighted the fund’s multi-faceted approach, which included concluding the national iClub competition, launching the fifth edition of the Researchers to Entrepreneurs (R2E) program with 260 participants, and providing 45 new scholarships through its GSS program.
EGP 500M Venture Fund Launch
A landmark development is the establishment of a EGP 500 million venture capital fund dedicated to supporting and financing high-risk technology startups. According to Dr. Adel Abdel Ghaffar, the Ministry’s Media Advisor, this fund is designed to transform research outputs and innovative ideas into scalable, high-growth companies, thereby strengthening the knowledge economy and creating new employment opportunities.
Complementing the fund, the ISF launched the “Hemaya” (Protection) initiative. In collaboration with the Egyptian Intellectual Property Authority and the Egyptian Knowledge Bank, this program provides technical, legal, and financial support to help inventors and entrepreneurs register their intellectual property rights both locally and internationally.
Cultivating University-Born Startups
The ISF has placed a strong emphasis on nurturing talent within academic institutions. Its GEN Z 2024 incubation program, backed by EGP 100 million in total support, has incubated 53 teams, resulting in 39 registered startups, 30 companies currently undergoing registration, and 7 startups identified for international expansion.
The fund also launched the “Your Project… Your Startup” program, offering financial and technical support to final-year university students to turn their graduation projects into viable businesses. The initiative attracted 428 innovative ideas from 75 universities. Additionally, the Startup Olympics competition for researchers trained 200 teams, providing a competitive environment to connect scientific outputs with funding and incubation opportunities.
Strategic Partnerships and Outreach
Throughout the year, the ISF forged key alliances to expand its impact. The fund signed protocols with the Egyptian Military Academy, Misr El Kheir Foundation, the National Research Center, and the Ministry of Environment. Strategic partnerships were also established with the Academy of Scientific Research and Technology and the Egyptian Knowledge Bank to enhance the national innovation ecosystem.
To raise awareness and engage the community, the ISF launched the “ISF Ride” program, which conducts tours across universities and research centers to educate students and researchers on turning their ideas into startups and connecting them with available support programs. The fund also produced media content, including television programs, to highlight the role of higher education in fostering entrepreneurship.
Fostering Inclusive Innovation
Demonstrating a commitment to inclusivity, the ISF launched the “Ibda… Intaleq” (Innovate… Launch) program to support innovators and entrepreneurs with disabilities. The initiative provides specialized training, mentorship, technical support for prototyping, and access to incubation, funding, and industrial partners.
About The Innovators and Geniuses Support Fund (ISF)
Established by Law No. 1 of 2019, the Innovators and Geniuses Support Fund (ISF) operates under the guidance of Egypt’s political leadership to discover and nurture talented individuals. The fund’s primary objectives are to support, finance, and guide researchers and innovators, fund science and technology projects, and facilitate their transformation into economically viable products. This mission aligns with Egypt’s national strategy to create a stimulating environment for science, technology, and innovation.
Source: Rosa El Youssef
