MOIC, ALEXBANK, Netherlands pact to support entrepreneurship

By Hamed Mahmoud

In light of the sustainable development framework, the Embassy of the Kingdom of The Netherlands in Egypt is delighted to announce its partnership with the Ministry of International Co-operation as the patron and ALEXBANK as an Egyptian main private partner for the entrepreneurial programme ‘Orange Corners Egypt’.

Entrepreneurship and innovation are key drivers of sustainable economic growth as well as creation of decent job opportunities.

Orange Corners Egypt is an initiative of the Kingdom of The Netherlands that provides young entrepreneurs with training, networks and facilities to start and grow innovative businesses. The initiative consists of two separate incubation programmes – one in Cairo and one in Upper Egypt (Assiut) – each of which offers recurring 6-month training cycles for 15-25 entrepreneurs at a time. The entrepreneurial training pays special attention to startups in agriculture and the creative sector, and ensures a minimum of 50% participation of female entrepreneurs.

Under the patronage of the Ministry of International Co-operation, Orange Corners Egypt will be able to connect the enrolled entrepreneurs more easily with follow-up opportunities within the Egyptian entrepreneurial ecosystem. The Ministry will support the implementing partners of the programme in identifying the untapped opportunities where innovative ideas can contribute to Egypt’s development across different sectors while achieving the SDGs.

ALEXBANK, one of Egypt’s largest banks, will join the programme as a main private sector partner. ALEXBANK will support the programme with an annual financial contribution and in-kind support including masterclasses and mentorship for participating entrepreneurs.

Han-Maurits Schaapveld, Ambassador of the Kingdom of The Netherlands to the Arab Republic of Egypt: “Young Egyptian entrepreneurs are the oxygen of Egypt’s economy. Therefore, we are very excited to collaborate with the Ministry of International Cooperation and ALEXBANK to provide essential support for entrepreneurs to further develop their skills and ideas through Orange Corners Egypt.”