The Micro, Small and Medium Enterprise Development Agency (MSMEDA) has signed a memorandum of understanding with Startup Egypt to support the entrepreneurship ecosystem and provide an integrated package of technical, financial, and institutional services to entrepreneurs and startups, MSMEDA CEO Mostafa Hassan announced. The agreement forms part of state efforts to support entrepreneurs and startups and strengthen the business ecosystem by providing various forms of assistance to help innovative ideas grow and expand. The memorandum was signed by 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, alongside senior officials from both organisations. Hassan stated that the agreement aligns with directives from Prime Minister Mostafa Madbouly, who also chairs MSMEDA’s board, to coordinate efforts among entities involved in entrepreneurship and establish an integrated ecosystem that provides an enabling environment for businesses based on innovation and knowledge. As a member of the Ministerial Group for Entrepreneurship, MSMEDA is committed to contributing to the implementation of the Startup Charter and providing practical mechanisms to support entrepreneurs throughout different stages of their development. Under the terms of the memorandum, MSMEDA will implement initiatives aimed at providing startups with technical and institutional assistance to help them improve efficiency and strengthen competitiveness. Cooperation will include specialised training programmes to develop the skills of business owners, as well as access to financing and technical services designed to help startups refine their business models and enhance managerial, technical, and marketing capabilities to ensure sustainability and growth. The partnership represents an important step towards coordinating efforts among organisations working in entrepreneurship, building a more effective ecosystem to help startups expand within the Egyptian market and enter new international markets, Hassan added. Ghoneima noted that Startup Egypt was established to serve as a key connector linking entrepreneurs with public and private sources of support. He welcomed the partnership with MSMEDA, describing the agency as one of the country’s largest and most important institutions supporting small and medium-sized enterprises. The post MSMEDA partners with Startup Egypt to expand financing and technical support for startups first appeared on Dailynewsegypt.
