Egypt’s Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a memorandum of understanding with Startup Egypt to support entrepreneurs and startups through technical, financial and institutional services.
The agreement was signed by MSMEDA CEO Mostafa Hassan and Startup Egypt Board of Trustees Chairman Magdy Ghonaim, in the presence of Hany Emad, head of the agency’s central venture capital sector.
According to the announcement, the partnership will include specialised training programs for entrepreneurs and business owners, alongside financing and technical support. The services are intended to help startups develop their business models, strengthen their administrative, technical and marketing capabilities, and improve their competitiveness.
Hassan said the agency would also implement initiatives to support startups and innovative, knowledge-based businesses at different stages of development. He added that MSMEDA’s involvement reflects efforts to coordinate Egypt’s entrepreneurship ecosystem and contribute to activating the national startups charter.
Ghonaim said Startup Egypt was established to connect entrepreneurs with government and private-sector sources of support. The partnership aims to help startups grow in the Egyptian market and reach new markets, according to the announcement.
Source: Hapi Journal
