Egypt’s Minister of Planning and Economic Development, Ahmed Rostom, and Minister of Higher Education and Scientific Research, Abdel Aziz Konsowa, met on Saturday to discuss mechanisms for enhancing the nation’s innovation and entrepreneurship ecosystem.
The discussions focused on transforming academic research and innovative student ideas into productive, commercially viable projects that support sustainable development and improve the competitiveness of the Egyptian economy.
Minister Rostom has made it clear that the government is actively implementing directives from Prime Minister Moustafa Madbouli to strengthen Egypt’s startup ecosystem, viewing entrepreneurship as a primary driver of economic growth.
These initiatives are being driven by the Ministerial Group for Entrepreneurship, chaired by Deputy Prime Minister Hussein Eissa, which is developing a comprehensive roadmap designed to maximise the potential of Egyptian youth and attract international venture capital.
Rostom revealed several key structural developments currently underway, citing the establishment of a dedicated entrepreneurship unit within the Cabinet, the activation of the Egypt Centre for Entrepreneurship and Innovation, and the launch of a fund to expand financing opportunities for early-stage startups.
The Ministry of Planning is coordinating closely with NI Capital—the investment arm of the National Investment Bank—and the Fund for the Care of Innovators and Talented Individuals to secure sustainable funding for student and graduate projects.
For his part, Minister Konsowa stressed that deep integration among state institutions is vital to transitioning towards a knowledge-based economy and aligning educational outcomes with modern labour market needs.
He noted that the ministry’s specialised bodies are working collectively to bridge the gap between education, industry, and production, ensuring that scientific research outputs do not remain confined to laboratories but evolve into successful commercial enterprises.
