Memorandum of Understanding Between the Egyptian Government and USAID to Support Startups and Venture Capital
The Egyptian Ministry of Investment and Foreign Trade has signed a memorandum of understanding with the Egyptian Private Equity and Venture Capital Association (EPEAVC) in partnership with the United States Agency for International Development (USAID).
This memorandum aims to support startups and venture capital in order to create a more favorable investment ecosystem.
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Objectives of the Agreement
Under this agreement, the “Egypt Works” project, funded by USAID and implemented by DAI in collaboration with EPEAVC, will develop a new strategic plan to guide the association’s long-term goals and positively contribute to enhancing the efficiency and growth of Egypt’s investment environment.
The memorandum focuses on building the capacities of employees in the fields of venture capital and angel investment, as well as developing a policy reform agenda for the venture capital industry and the investment environment in Egypt.
The agreement also includes building capacities in strategic areas and identifying best practices to ensure that EPEAVC continues to be a key and influential player in shaping the landscape of direct investment and venture capital in Egypt.
Signing Ceremony Details
The signing ceremony took place at the General Authority for Investment in Cairo, attended by Engineer Hassan El-Khateeb, Minister of Investment and Foreign Trade, Sean Jones, USAID Mission Director in Egypt, Ayman Soliman, President of the Egyptian Private Equity Association, and representatives from the startup and venture capital sectors.