Egypt’s Ministry of Youth and Sports has signed a memorandum of understanding with the Micro, Small and Medium Enterprise Development Agency to expand support for entrepreneurship, self-employment and youth-led startups.
The agreement is designed to help young people develop business ideas, launch new ventures and grow existing projects. According to the announcement, support will include training, mentoring, consulting, marketing assistance and access to available financing services across Egypt’s governorates.
Youth centers will serve as platforms for entrepreneurship programs, workshops, exhibitions and business activities in sports, entertainment and services. The two sides will also provide training in small and medium-sized enterprises and franchising.
The memorandum includes plans for a Sports-Tech Track focused on opportunities in supporting sports industries, as well as the creation and operation of specialized incubators and accelerators. It also covers the activation of business development centers, entrepreneurship competitions and exhibitions for small-business products.
The agency said the partnership will help extend its technical, financial and non-financial services to more young people, while supporting the development of industrial and productive projects. The memorandum was signed by Amr Haddad, head of the ministry’s youth sector, and Mohamed Medhat, deputy CEO of the agency.
Source: Al Bawaba News
