Egypt’s Business Clinic has resolved 21 of the 48 challenges submitted by entrepreneurs and startups, while 27 others remain under review, according to a report from the Ministry of Planning and Economic Development.
The mechanism, operated by the Egypt Entrepreneurship and Innovation Center, coordinates with relevant authorities to address obstacles facing emerging companies and help them move from formation to expansion and investment.
Licensing is among the key issues under discussion, including how companies can move from regulatory sandboxes to permanent permits. These challenges are being referred to the Ministerial Committee for Entrepreneurship in coordination with the Central Bank of Egypt and other authorities.
The government and development partners are also working on a joint financing structure to support startups at different stages of growth. The broader plan includes supporting 5,000 startups and attracting $5B in venture capital, alongside a separate initiative targeting $1B over five years.
The government has also highlighted the role of universities in developing talent for technology, programming and artificial intelligence, with startups encouraged to address needs in sectors such as industry, agriculture and logistics.
The Business Clinic will continue coordinating with relevant authorities to resolve the remaining 27 challenges.
Source: Youm7
