Egyptian entrepreneur Omar El Monayer has officially announced his resignation from the Board of Trustees of the newly launched non-profit foundation, Startup Egypt. The decision comes shortly after the organization’s official launch and follows a recent social media controversy surrounding his appointment.
Quick Facts
- Omar El Monayer steps down from the board.
- Resignation follows a recent social media controversy.
- Startup Egypt is a new non-profit for founders.
A Decision to Protect the Mission
In a statement published across his social media accounts, El Monayer clarified that his position on the Startup Egypt board was entirely voluntary. He explained that he accepted the invitation to join months ago as part of the foundation’s setup to serve Egypt’s entrepreneurship ecosystem.
El Monayer stated he did not want the foundation to “bear any burdens or be subjected to any offense” due to his presence on the board. He has formally submitted his resignation to Dr. Majed Ghoneima, Chairman of the Board of Trustees, to ensure the organization remains focused on its developmental goals without distraction. He concluded his statement by apologizing to anyone affected by his association with the foundation and wished Startup Egypt success.
The Launch of a New Ecosystem Player
Startup Egypt was officially launched last week at an event attended by entrepreneurs and investors from across Egypt’s tech scene. The foundation’s Board of Trustees was announced, featuring a number of prominent figures from the ecosystem, including Sabrien Assem, Ayman Bazaraa, Mohamed El-Okby, Ayman El-Sawy, Mohamed Abou El-Naga Negaty, Ahmed Shaaban, and Rania Ayman.
According to Dr. Ghoneima, the board was formed to build a strong support system for Egyptian entrepreneurs, leveraging diverse expertise in business, investment, and institutional work. The organization aims to connect founders with funding, operational, and expansion opportunities.
About Startup Egypt
Startup Egypt is a non-profit, membership-based foundation dedicated to supporting Egyptian startup founders. The organization works to bridge the gap between entrepreneurial ambition and the resources needed for growth by providing accelerator programs, mentorship, and training. It boasts a network of over 350 volunteer mentors and experts.
The foundation serves founders at various stages, from those with a viable prototype to more advanced companies seeking to scale. It also offers a free track for students and recent graduates interested in entrepreneurship. During its launch, Startup Egypt announced its first specialized accelerator programs in partnership with Domty (FoodTech), Almentor (EdTech), and Simplex CNC (Industrial Tech).
Source: Fintech Gate
