TLDR:
- MSMEDA is in talks with the World Bank for a second phase of venture capital financing.
- The overall goal is to support startups and enhance their growth opportunities.
MSMEDA is currently discussing with the World Bank for the second phase of venture capital funding, following the disbursement of $50 million in the first phase. Hany Emad, Head of the Venture Capital Investment Sector at MSMEDA, highlighted the importance of connecting the Egyptian market with the African market for startups, as well as the potential for Egypt to become a leading country in startup investments. Emad emphasized the need for more support programs over investments themselves to address sector shortcomings and attract international funding. The recent Entlaq report will help determine the allocation for the program, aiming to strengthen the Egyptian startup sector and increase investment opportunities.
Entlaq Holding also released its Egyptian Entrepreneurship Sector Diagnostics Report, outlining key recommendations for enhancing the entrepreneurship sector. The report focuses on various government and public-private initiatives, such as educational hubs, fintech regulations, agricultural support programs, and ICT innovations, to foster capacity building, financial inclusion, and technological advancement. Social inclusion initiatives targeting youth and women, alongside venture capital investments and cross-border partnerships, aim to create a more resilient and inclusive entrepreneurial ecosystem in Egypt.
