• The initiative targets reaching 5,000 startups, including 500 companies receiving financing exceeding USD 1 million

• Providing diversified investment mechanisms tailored to companies at various growth stages, from ideation to unicorn status

H.E. Dr. Rania Al-Mashat, Minister of Planning, Economic Development and International Cooperation and Chair of the Ministerial Group for Entrepreneurship, announced the launch of a unified financing initiative aimed at coordinating available financing resources across government entities and activating innovative mechanisms to maximize their impact by up to fourfold. The initiative seeks to mobilize USD 1 billion in financing for the startup sector over a five-year period through government resources, guarantees, and co-investments with venture capital funds and other private-sector investment and financing entities.

H.E. Dr. Al-Mashat added that several national entities are participating in the financing initiative, including the Micro, Small and Medium Enterprise Development Agency (MSMEDA), the Credit Guarantee Company, the Central Bank of Egypt, the Financial Regulatory Authority, the Information Technology Industry Development Agency (ITIDA), as well as the Ministries of Investment, Finance, and Environment.

This came during the launch event of the Egypt Startup Charter, held at the Grand Egyptian Museum, in the presence of H.E. Dr. Mostafa Madbouly, Prime Minister, ministers who are members of the Ministerial Group, and representatives of startups and entrepreneurs.

H.E. Dr. Al-Mashat explained that the objective of the unified financing initiative is to stimulate private-sector and venture capital investments across all stages of growth of Egyptian startups, through a government framework supported by diversified financing mechanisms.

She added that the pillars of the initiative include ensuring the continuity of financing flows to startups, establishing a unified database to monitor the progress of startups, forming a coordination framework that brings together all relevant entities, engaging the entrepreneurship community in reviewing outcomes to ensure alignment with market needs, linking startups with international investors, and implementing proactive and corrective interventions in the event of financing gaps.

She further noted that the initiative provides diversified investment mechanisms tailored to the needs of companies at different stages of growth, starting from the ideation phase through to unicorn status or exit, highlighting that the initiative targets reaching approximately 5,000 companies, including 500 companies, in addition to five unicorn companies.