Minister of Investment and Foreign Trade Mohamed Farid attended the launch of the Startup Egypt platform, which brought together entrepreneurs, venture capital investors, financing institutions, and key stakeholders from across Egypt’s startup ecosystem.
The launch forms part of the Ministry of Investment and Foreign Trade’s broader efforts to enhance the competitiveness of Egypt’s business environment and strengthen the country’s position as a regional hub for entrepreneurship and innovation.
Farid described Startup Egypt as a significant step toward establishing a more integrated institutional framework for supporting startups. He noted that the platform is the first of its kind to directly connect entrepreneurs and startups with government entities, investors, and financing institutions, helping to foster institutional dialogue and support the development of policies that facilitate business growth and expansion.
The minister emphasised that entrepreneurship has become one of the primary drivers of economic growth worldwide due to its role in creating jobs, fostering innovation, and developing solutions to economic and development challenges. He added that international experience has shown that the most dynamic economies are those that cultivate an environment that encourages initiative, risk-taking, and innovation.
Farid also stressed that a successful entrepreneurial ecosystem requires a culture that views failure as a natural part of the startup journey. He noted that the closure of some startups should not be seen as a failure of the ecosystem itself, but rather as an inherent aspect of innovation-driven ventures built on experimentation and continuous development.
The minister highlighted ongoing efforts by the Ministry of Investment and Foreign Trade, in co-operation with the General Authority for Investment and Free Zones (GAFI), to advance legislative and regulatory reforms that support startups and improve the ease of doing business.
On startup financing, Farid said Egypt’s funding ecosystem has made notable progress in recent years, particularly at the early stages through incubators, accelerators, and seed-funding programmes. However, he noted that the key challenge remains securing adequate financing for growth and expansion phases, especially during later funding rounds that require more diverse and flexible investment instruments.
He added that the government, in co-operation with the Sovereign Fund of Egypt, is developing new mechanisms to support investment in startups and strengthen access to capital.
Farid also underscored the importance of the domestic market as a launchpad for Egyptian startups, while emphasising that sustainable high-growth companies must expand into regional and international markets. He noted that exporting digital products and services represents a key avenue for accelerating growth, enhancing competitiveness, and opening new opportunities for Egyptian innovation.
The minister reaffirmed the government’s commitment to continuously improving the environment for entrepreneurship and innovation through closer coordination among government entities, financial institutions, and development partners. Such efforts, he said, are essential to building a more competitive business ecosystem capable of attracting investment and achieving sustainable, knowledge-based economic growth.
