Here's All You Need To Know About The Nilepreneurs Initiative

The Central Bank signed a five year collaboration agreement with Nile University that aims to develop, empower and support young egyptian entrepreneurs in SMEs. This initiative is called “Nilepreneurs” and it came in light of the Central Bank’s recent efforts to support SMEs.

Nilepreneurs is an initiative that aims to raise youths’ entrepreneurship awareness. Nile University is overseeing the project with the help of the Ministry of Planning, the Academy of Scientific Research and Technology and Micro, small, and medium-sized enterprises projects development agency.

The initiative’s goals are: increase the input of small and medium-sized enterprises to the Gross National Product, creation of business service provider centers, increase in the number of companies and the creation of job opportunities, increase exports increase and the substitution of imports and the creation of an encouraging environment for innovation and creativity.

The initiative offers 5 different programs that targets youth, innovators, startups and entrepreneurs.

1- Awareness Program:
This program is considered to be the first interaction of the users with “Nilepreneurs” through communication channels at Egyptian universities. The program spreads motivational and educational messages supporting potential entrepreneurs with the help of educational institutions.

2- Challenge and Innovation Program:
A program to support young people, entrepreneurs and start-ups in engineering and agribusiness to transform their creative and innovative ideas into products or services. Innovators, entrepreneurs in the fields of agriculture and engineering from the age of 21, and startups that have viable models to meet market needs or increase local production can apply to this program.

3- SMEs Growth Stimulation Program:
This program aims to increase the contribution of small companies working in agriculture and industry sectors in the national economy by providing the advanced capabilities necessary for the growth of promising companies, while transferring the experience gained from other companies through business development centers to generally improve the competitiveness of the sectors.

4- Business Development Centers:
Centers that are part of banks and the msme and other private and public bodies that are involved in developing projects in governorates. The services provided in these centers include:
• Availability of information and data through the "مشاريع مصر"
• Capacity building and vocational training for SMEs and entrepreneurs
• Enable SMEs to access funds and develop its business
• Empower women and young people to develop their businesses
• Support the elderly and people with special needs in the establishment and development of small and medium enterprises
• Transform SMEs from the informal sector into the formal sector through “one-window service”

5- Design House:
It works with emerging companies and small and medium-sized companies to transform their product requirements into reality by following standard operating procedures and testing them for product development or implementation through reverse engineering in order to produce a product that can be manufactured in the local market. If you are a business owner and owner of a small and medium business and you have ideas or engineering products need to design or the owner of an engineering company that will help in the design and engineering of the product or have technical expertise and knowledge of engineering industries and you can create and innovate products, this program is suitable for you.