Misr Italia Properties (MIP) signs an MoU with RiseUp on the sidelines of Cityscape to establish the first Innovation and Entrepreneurship Hub in East Cairo located in Cairo Business Park, covering an area of 2500 m2. This agreement is in line with the company’s vision to make Cairo Business Park, the company’s flagship administrative project, the center of creativity, innovation and entrepreneurship in East Cairo.
This marks the first of many collaborations between Misr Italia Properties and RiseUp, arguably one of the best local institutions at harnessing the vibrant ambitious spirit of the ecosystem, connecting up-and-coming entrepreneurs, and highlighting the most promising investment opportunities for investors around the globe.
“This agreement aligns with the company’s strategy to support startups and budding entrepreneurs to expand the scope of access to facilities necessary for their businesses,” said Mohamed Hany El-Assal, CEO and Managing Director of Misr Italia Properties. The new hub will offer co-working spaces, small offices and meeting facilities that allow entrepreneurs, innovators, and small businesses to connect. The place will also host workshops as well as capacity building sessions and provide mentorship to empower businesses to flourish.
“Moreover, RiseUp is one of the most significant institutions supporting innovation and entrepreneurship. We believe in the significance of such entities to support the Egyptian economy in general, while achieving economic growth and efforts towards digital transformation. Cairo Business Park enjoys a lineup of advantages that enables it to establish this hub that is able to host hundreds of entrepreneurs, investors, and young individuals with groundbreaking ideas,” said El-Assal
Further, Mohamed Khaled El-Assal, CEO and Managing Director of Misr Italia Properties stated that “MIP’s agreement with RiseUp is a reflection of the company’s volume of work towards contributing to the development of projects that benefit economic development, and support to the achievement of Egypt’s 2030 vision. RiseUp is one of the major players in the entrepreneurship ecosystem in Egypt and the Middle East, and our partnership will empower Egyptian startups to fully utilize their potential and compete locally and regionally and even pursue their dreams of reaching a global audience. We hope that the next unicorn comes our from Cairo Business Park’s innovation hub”.
Building on the above, Abd El Hamid Sharara, Founder & CEO of RiseUp, said, “We are thrilled to establish an innovation hub at Cairo Business Park as it’s set to become East Cairo’s ultimate destination for entrepreneurs, experts and business leaders. RiseUp, as a platform, connects startups with resources to achieve their goals and better explore the potential of their businesses while ensuring the entire ecosystem is sustainably growing.
He also added, “This project will be RiseUp’s first embark for its new hubs product, as a part of RiseUp’s newly established subsidiary providing hubs throughout Egypt and the MENA region. We will now be connecting startups to resources on a daily basis.”
Cairo Business Park project stands as MIP’s main administrative project, which is being built on an area of 78,000 m2 with a total investment of EGP 6 billion, and features a lineup of facilities including a comprehensive administrative complex in addition to small and medium-sizes offices. Construction work on site is 95% complete, and the project is expected to be operational in March 2023. The project will host a 5-star business hotel as well as facilities and amenities to ensure a work-life balance for its inhabitants.
