On February 4, 2025, Dr. Mustafa Madbouly, Egypt’s Prime Minister, chaired an important meeting of the Ministerial Group on Entrepreneurship, with the participation of several ministers and key government officials. A highlight of the session was the pivotal role played by Dr. Rania Al-Mashat, Egypt’s Minister of Planning, in advancing policies aimed at empowering the country’s entrepreneurial ecosystem.
The meeting focused on efforts to drive sustainable economic growth and enhance the potential of Egypt’s burgeoning startup sector. Prime Minister Madbouly emphasized the importance of the group’s role in shaping policies that boost the capabilities of emerging businesses, ensuring they can achieve sustained economic growth, attract investments, and position Egypt as a leader in the global entrepreneurship arena.
One of the key outcomes of the meeting was the adoption of a unified definition and classification framework for startups, as presented by Al-Mashat. This framework sets clear criteria for identifying a company as a startup and establishes the guidelines for regulatory classification, ensuring that the needs of emerging businesses are met effectively. Additionally, the meeting reviewed proposed incentives to create a more supportive environment for startups, including simplified licensing processes and tax advantages, which are crucial for accelerating their growth.
Al-Mashat highlighted the progress made in the past period, particularly the ongoing work of various entrepreneurial working groups. These groups, composed of representatives from startups, venture capital firms, academic experts, civil society members, and lawmakers, have worked diligently to produce the “Startup Community Charter” for Egypt. The charter outlines a government action plan aimed at boosting the capacities of startups, helping them to thrive and contribute to the country’s sustainable economic growth.
As part of this collaborative effort, Minister Al-Mashat presented the recommendations from these working groups, which have prioritized 94 key actions from over 480 proposals, studied in-depth through consultations. The recommendations focus on creating a favorable regulatory environment and fostering partnerships with the private sector to build a thriving startup ecosystem.
Another important aspect discussed by Al-Mashat was the proposed unified funding initiative to bring together both public and private sector entities to support entrepreneurs and startups. This initiative, aimed at benefiting more than 5,000 startups, will generate significant economic and social impact, including job creation and empowering women-led businesses. The initiative aims to attract over a million dollars in investments for selected startups, further positioning Egypt as a hub for innovation and entrepreneurship in the Middle East and Africa.
Dr. Al-Mashat also updated the meeting on Egypt’s favorable position in recent global startup investment reports. According to the latest reports, Egypt ranks among the top three economies in the Middle East and Africa attracting venture capital investments. She emphasized the importance of promoting Egypt’s entrepreneurial community at international trade fairs, which provide valuable opportunities to engage with global investors and venture capital funds.
This meeting marked a significant step in strengthening Egypt’s entrepreneurial ecosystem and aligning government efforts to support startups and drive the country’s long-term economic growth. The proposed initiatives and reforms reflect the government’s commitment to creating a dynamic and sustainable environment for innovation and entrepreneurship.
