Egypt's MSMEDA has signed a memorandum of understanding with Startup Egypt to expand technical and financial support for startups, aiming to strengthen the entrepreneurship ecosystem and improve access to resources for early-stage businesses.
The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has entered into a memorandum of understanding with Startup Egypt, aiming to enhance support for entrepreneurs and early-stage businesses across Egypt. The agreement is designed to provide startups with a comprehensive package of technical, financial, and institutional services, according to MSMEDA CEO Mostafa Hassan.
The partnership is part of broader state efforts to foster innovation and entrepreneurship, with the goal of building a more robust business ecosystem. The memorandum was signed by Mostafa Hassan and Maged Ghoneima, Chairman of the Board of Trustees of Startup Egypt, in the presence of Hany Emad, Head of MSMEDA's Central Venture Capital Sector, and senior officials from both organisations.
Agreement targets integrated startup support
Under the terms of the memorandum, MSMEDA will launch initiatives to deliver technical and institutional assistance to startups, aiming to improve their operational efficiency and competitiveness. The cooperation will include specialised training programmes to develop business owners' skills, as well as expanded access to financing and technical services. These measures are intended to help startups refine their business models and strengthen their managerial, technical, and marketing capabilities, supporting long-term sustainability and growth.
Strategic alignment with national entrepreneurship policy
MSMEDA CEO Mostafa Hassan stated that the agreement aligns with directives from Prime Minister Mostafa Madbouly, who chairs MSMEDA's board, to coordinate efforts among entities involved in entrepreneurship and establish an integrated ecosystem based on innovation and knowledge. As a member of the Ministerial Group for Entrepreneurship, MSMEDA is committed to advancing the Startup Charter and providing practical mechanisms to support entrepreneurs at all stages of development.
Maged Ghoneima, Chairman of Startup Egypt, described the partnership as a significant step in connecting entrepreneurs with both public and private sources of support. He highlighted MSMEDA's role as one of Egypt's largest institutions supporting small and medium-sized enterprises, and welcomed the collaboration as a means to help startups expand within Egypt and access new international markets.
