MSMEDA Egypt, short for Micro, Small and Medium Enterprises Development Agency has signed a Memorandum of Understanding (MoU) with the Egyptian Private Equity and Venture Capital Association.
In a bid to enhance Egypt’s entrepreneurship ecosystem, the duo came together to launch specialized support and training programs designed to strengthen investors’ capabilities in direct investment and venture capital.
According to Basil Rahmi, CEO of MSMEDA Egypt, the MoU includes the launch of a series of training programs tailored for investors and investment managers. These programs have been developed in collaboration with global experts and are supported by the World Bank and the Italian Agency for Development Cooperation.
The programs aim to among other things:
- Train investors and fund managers to enhance their efficiency in dealing with startups.
- Strengthen partnerships between investors and investment managers to boost direct investment rates in Egypt.
- Create an attractive environment for investments in the startup and entrepreneurship sectors.
How MSMEDA is supporting startups
During his speech at the summit where the agreement was announced, Basil Rahmi reaffirmed MSMEDA Egypt’s commitment to implementing the government’s strategy to support startups and small-scale entrepreneurs, in line with the directives of the Prime Minister.
He added that this collaboration is part of ongoing efforts to improve Egypt’s direct investment landscape by providing specialized training programs that help investors channel capital towards innovative startups, enhancing their growth potential and economic impact.
The MoU between MSMEDA Egypt and the Egyptian Private Equity and Venture Capital Association marks a significant step in stimulating Egypt’s entrepreneurship ecosystem.
It opens new opportunities for both local and international investors to support startups in Egypt, reinforcing the country’s ability to achieve sustainable economic growth through investment in innovation and entrepreneurship.
