H.E. Dr. Rania A. Al-Mashat, Minister of Planning, Economic Development, and International Cooperation, met with Mr. Eric Martineau-Fortin, Founder and Managing Partner of White Star Capital, and Mr. Mohamed El Kalash, Vice President of the firm. White Star Capital is an international fund specializing in entrepreneurship and technology investments, with a presence in North America, Europe, and Asia. The meeting focused on exploring potential collaboration to boost entrepreneurship and innovation in Egypt.
The discussion centered on the investment opportunities available to White Star Capital, considering Egypt’s comparative advantages that attract both local and foreign investments across various sectors.
During the meeting, H.E. Dr. Rania A. Al-Mashat highlighted the state’s current priorities, emphasizing the government’s efforts to empower the private sector, enhance the investment environment, and open the door for increased local and foreign private sector participation. This, in turn, aims to expand investments and bolster macroeconomic stability. She pointed out that the government has launched an ambitious economic and structural reform program to promote inclusive economic growth and overcome the challenges facing Egypt’s economy.
Al-Mashat also underscored the importance the state places on entrepreneurship, noting the recent formation of the Ministerial Committee for Entrepreneurship, which H.E. chairs. This committee is dedicated to enhancing the capacity of startups and the entrepreneurial ecosystem to achieve sustainable and accelerated economic growth, driven by competitiveness and knowledge, while creating decent employment opportunities.
The minister further emphasized the positive impact of supporting and promoting entrepreneurship, such as creating new job opportunities, reducing unemployment, and stimulating local economies. Additionally, entrepreneurship accelerates technological advancements, improves local industries, and strengthens productive capacities, fostering a more competitive economic environment. Successful international startups also attract more investments, enhancing the region’s economic framework and making it more appealing for future investments. Moreover, cooperation with local talents facilitates knowledge and skills transfer.
H.E. Dr. Al-Mashat also highlighted the ministry’s role in managing public spending and fostering collaboration between Egypt and its multilateral and bilateral development partners, creating synergies to drive economic development and increase the efficiency and effectiveness of ongoing projects.
During the meeting, Mr. Eric Martineau-Fortin, Founder and Managing Partner of White Star Capital, applauded Egypt’s potential in entrepreneurship and innovation, noting that Egypt is one of the key markets in the Middle East and North Africa region for attracting investments in startups. He expressed his interest in the government’s efforts to enhance startup and entrepreneurship investments, which present significant opportunities for collaboration.
He further explained that White Star Capital’s portfolio includes several companies that have shown interest in the Egyptian market, particularly due to the government’s strong support for entrepreneurship and the competitive nature of Egypt’s human capital.
It is worth noting that White Star Capital is a global multi-stage technology investment platform founded in 2007. The firm manages over $1.3 billion in assets and strategically invests in diverse sectors, including mobility, logistics, industrial technology, digital health, and fintech. With offices in major cities such as New York, London, Toronto, and Dubai, White Star Capital enables ambitious entrepreneurs to succeed in global business markets.