Bassel Rahmy: The State Provides Exceptional Investment Opportunities for Youth and Startups

The Micro, Small and Medium Enterprise Development Agency (MSMEDA) participated in the fourth annual meeting of investors of DisrupTech, where Bassel Rahmy delivered a keynote highlighting the agency’s strategic direction and investment mechanisms aimed at supporting Egyptian startups and entrepreneurs.

This is achieved through investing in venture capital funds managed by leading private-sector fund managers with extensive expertise in this field.

Significant Efforts to Support Entrepreneurship

Rahmy also reviewed the diverse activities and substantial efforts undertaken by the Ministerial Group for Entrepreneurship, of which MSMEDA is a member.

He emphasized the directives of Dr. Mostafa Madbouly, Prime Minister and Chairman of MSMEDA’s Board, stressing the importance of providing comprehensive support to these enterprises due to their strong economic impact, scalability, and ability to attract foreign investment.

He affirmed that the state is offering exceptional investment opportunities for youth and startups to prepare them for growth, expansion, and export, reinforcing Egypt’s position as a supportive environment for entrepreneurship and innovation.

MSMEDA’s Strategic Priorities

Rahmy also outlined MSMEDA’s strategic priorities for the coming period, particularly the digitization of all services provided to micro, small, and medium enterprises. In addition, the agency will offer expanded support and a range of services to startups, in line with the Startup Charter announced on the sidelines of the RiseUp Summit.

To date, around 40 startups have applied to obtain the official startup classification certificate issued by MSMEDA for innovative companies. This certification enables startups to benefit from various government incentives, facilitation measures, and supportive legislative frameworks designed to accelerate their growth.

Strengthening Partnerships and Collaboration

Rahmy also held meetings with representatives of international development finance institutions (DFIs), startups, entrepreneurs, venture capital funds, and banking sector leaders. These discussions focused on opening new avenues for cooperation with MSMEDA and coordinating efforts to provide the necessary financial and institutional support to startups and entrepreneurs across Egypt.

Source: Press Release