Egypt is discussing the creation of a fund to support entrepreneurship and innovative startups, according to the Ministry of Planning and Economic Development.
The proposal was discussed during a meeting between Planning and Economic Development Minister Ahmed Rostom and Ethiopis Tafara, IFC Vice President for Africa. The talks focused on expanding cooperation in digital entrepreneurship, innovation, digital projects and technology infrastructure.
The potential fund would provide financing mechanisms for startups and innovative ventures, while encouraging greater private-sector participation in technology and innovation-led projects, the ministry said.
The meeting took place in Bangkok on the sidelines of the annual meetings of the International Monetary Fund and the World Bank Group.
Rostom also highlighted the importance of developing innovation incubator platforms in Egypt so they can test new technology solutions and support startups across Africa. The government aims to strengthen Egypt’s position as a regional hub for digital entrepreneurship and help startups expand into regional and international markets.
Source: Hapi Journal
