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Egypt Solidifies Its Role as a Hub for Entrepreneurship and African Collaboration in the Realms of Business Innovation

Dr. Rania Al-Mashat, Minister of International Cooperation, participated as a keynote speaker in the conference titled “Shaping the Future with Africa: Youth Entrepreneurship as a Key to Equitable Transition.” During her address, she emphasized Egypt’s pivotal role as a center for entrepreneurship, bridging the gap between the Middle East and Africa. She underscored the significance of fostering entrepreneurship and innovation in Egypt to drive economic growth.

Al-Mashat affirmed the Egyptian government’s keen interest in fostering an entrepreneurial ecosystem. She highlighted the role of “Egypt Ventures,” the first government-contributed company in venture capital, collaborating with the private sector and development partners to support startups. This entity has invested in numerous startups, focusing on creating an encouraging environment for their growth.

The Minister of International Cooperation outlined three primary pillars forming the basis of collaboration with development partners and the global community: inclusivity for all groups—women, youth, and entrepreneurs—and the pursuit of digital and green transformation. She emphasized that these pillars underpin developmental cooperation programs conducted by the ministry in collaboration with development partners.

She highlighted the partnership between the Egyptian government and the United Nations in bolstering digital transformation and innovation as fundamental tools to achieve Egypt’s Vision 2030 and Sustainable Development Goals. Additionally, she mentioned collaboration with “AfriLabs” to support entrepreneurship and innovation in Africa, along with initiatives like “Youth for Nation” – an Egyptian version supporting youth in education, employment, and entrepreneurship.

With the widening gap in sustainable development, Al-Mashat urged companies and entrepreneurs to play a more significant role in bridging this gap by aligning their goals with sustainable development objectives and seeking funding from development partners. She stressed the necessity of rapid adaptation to global developments to keep pace with continuous transformation.

The Ministry of International Cooperation is considered a platform for coordinating with local and international partners to enhance innovation and entrepreneurship in Egypt and Africa. It continues to support initiatives such as “Egypt Ventures” and collaborates with African networks to promote innovation and entrepreneurship.

As a focal point for entrepreneurship, Egypt remains engaged with local and international partners to support innovation in Africa, driving sustainable development in the region.

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