USAID Boosts Entrepreneurial Growth in Egypt

by MMC
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Cairo: An Expo celebration was held today in the presence of the new USAID Egypt Mission Director, Mr. Sean Jones, and USAID Chief Innovation Officer, Mr. Mohamed Abdel-Kader, to celebrate the 23 startups graduating from Cohort 3 of the Sultan Hussein Kamel Innovation Hub in Cairo, Egypt. Mr. Jones delivered a speech congratulating startups and reiterated the long-term partnership between the Egyptian government and the United States and how supporting the entrepreneurial space is essential to enable Egypt to achieve the goals of Egyptian Vision 2030. Entrepreneurs engaged with the USAID Mission Director on strategic priorities related to USAID’s plans to support the Egyptian government in the coming years. Four roundtable discussions were held where startups, VCs and Plug and Play partners had the opportunity to discuss various topics including lending in the B2B space, AgriTech and circular economy in Egypt, the Egyptian venture capital space and the impact of AI on revolutionizing businesses and market trends.

USAID’s Economic Governance Activity is proud to support this innovative program managed by the Silicon Valley-based Plug and Play Tech Center, with our partners: the Information Technology Industry Development Agency (ITIDA), the National Bank of Egypt (NBE) and Egypt. Job.

Over the course of a three-month program that began in June 2023, the 23 startups in this cohort benefited from unprecedented access to the resources, mentorship and networking opportunities they need to succeed in a business landscape constantly evolving. The rigorous program covered topics relevant to managing new businesses in a challenging environment, including legal affairs, product strategy, the African venture capital landscape, and human resources. The participating startups were carefully selected for their potential to drive innovation and economic prosperity in Egypt, and they represent diverse sectors, including technology, healthcare, fintech and sustainability.

In the same context, Akhlad El Abhar, co-founder and owner of Egrobots and one of the startups participating in the program said: “our project aims to reduce operational costs on farms and improve productivity and product quality agricultural. Our goal in participating in the third round of the “Innovation Platform” program supported by USAID’s Economic Governance Activity was to improve our communications network, expand our marketing systems, and strengthen our sales programs. We successfully achieved these goals and established new partnerships with other companies offered by the program. Without such programs, startups would not have the ability to grow their business and reach a wider customer base. These programs also allow startups to expand in the local market and gain access to regional and global markets. » USAID remains committed to fostering entrepreneurship and driving economic growth in cooperation with the Egyptian government and global innovation catalysts like #Plug and Play by facilitating meaningful connections and providing a platform for innovation which helps Egypt’s startup ecosystem thrive.

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