محمد يحي
- Egypt’s MSMEDA Issues 25 Innovation Startup Classification Certificates Under National Startup Charter
- Egypt, in partnership with the World Bank Group, advances startup ecosystem support through a $50 million fund initiative aimed at empowering emerging companies.
- The Egyptian Startup Charter continues to strengthen entrepreneurs and innovation-driven businesses through classification, funding access, and ecosystem development support.
The Small and Medium Enterprises Development Agency (MSEDA) has awarded innovation classification certificates to 25 innovative projects out of a total of 61 startups officially accredited since the launch of the Egyptian Startup Charter in February.
In parallel, the agency— in collaboration with the World Bank Group— has launched the first investment program in investment funds under the name “Fund of Funds,” with a total financing of $50 million to support Egyptian startups.
Basel Rahmy, CEO of SMEDA, emphasized the strong commitment of the political leadership, in line with directives from President Abdel Fattah El-Sisi, to empower entrepreneurs and innovative startups in Egypt.
Rahmy explained that, through the Ministerial Committee for Entrepreneurship and the Egyptian Startup Charter, companies are granted classification certificates and provided with technical training for their teams to develop skills in line with international standards.
The initiative also supports incubators and accelerators and facilitates participation in exhibitions to help startups market their products.
He noted that there is strong coordination among members of the ministerial group to implement the Startup Charter, describing it as a model that reflects the needs of a promising youth sector and helps them benefit from state investment incentives, including Investment Law No. 152 of 2020.
He added that the agency continues to provide both technical and financial services to attract more entrepreneurs to start new ventures or scale existing ones.
Egyptian Startup Charter
The Startup Charter targets newly established companies characterized by rapid growth, flexibility, and innovation. It focuses on startups developing or enhancing innovative products, services, or business models.
The Startup Classification Committee includes representatives from the Ministerial Entrepreneurship Group, venture capital funds, angel investors, the entrepreneurship community, and SMEDA.
The committee reviews applications submitted by Egyptian startups seeking classification certificates.
The Startup Charter offers two application tracks:
a fast-track process within five days, and a standard process within two weeks. Applications can be submitted via www.startup.gov.eg.
Applicants are required to review the charter, prepare the necessary documents, and choose between the two tracks.
The standard track is open to all applicants and evaluated through the regular committee review process, while the fast-track is reserved for startups nominated by accredited investment funds.
In case of rejection, companies have the right to appeal within 15 days for reconsideration of their documents and eligibility under the charter criteria.
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