The Chief Executive Officer of the Micro, Small and Medium Enterprises Development Agency (MSMEDA), Mostafa Ismail, has reaffirmed the agency’s commitment to empowering entrepreneurs and fostering a competitive, knowledge-based economy.
Speaking on Saturday during the “Entrepreneurial Pitches: From Idea to Growth” session at Egypt Forum 2026 in the New Capital, held under the patronage of President Abdel Fattah El-Sisi, Ismail said that MSMEDA has invested $55 million in 16 investment funds, helping to attract $455 million in foreign direct investment to Egyptian start-ups.
He outlined MSMEDA’s role in supporting young entrepreneurs from the idea stage through to building viable, scalable businesses.
Ismail unveiled plans to establish an Innovation Support Unit to help start-ups overcome challenges and achieve sustainable growth.
The planned unit will provide tailored solutions for enterprises facing technological, managerial, marketing and operational challenges, enhancing their sustainability and growth prospects.
The funds have supported 170 innovative early-stage companies, while 93 start-ups have received official accreditation and classification since the launch of the Startup Charter in February 2026.
Ismail stressed that training, mentoring and guidance precede financing, with support customised to each project’s specific needs following professional assessments.
He added that entrepreneurs receive assistance in evaluating business ideas, conducting feasibility studies, addressing early-stage challenges, understanding market dynamics, generating revenue streams and creating jobs, while contributing to broader societal needs.
