Rédaction Africa Links 24 with MENA
Published on 2024-02-11 10:08:18
The NilePreneurs Initiative, established by the Central Bank of Egypt (CBE) and the banking sector, announced on Saturday 10/02/2024 that sales of companies benefiting from the initiative’s incubation and export excellence programs have increased by approximately two billion pounds over the past five years since its launch in 2019.
As part of the report issued to mark the fifth anniversary of its establishment, the initiative revealed that over 1,500 companies have benefited from its programs. This includes 900 SMEs involved in the value chain and export support programs, 300 startups during the pre-incubation stage, 260 companies leveraging the digital transformation program, and 100 startups and SMEs tapping into the innovation programs. The initiative has also contributed to the creation of 2,300 job opportunities within the beneficiary companies and provided support for more than 180 female entrepreneurs as founding partners of startups and SMEs.
Moreover, the initiative has introduced over 1,100 companies to investors and industry experts and provided training for 17,000 entrepreneurs, with almost one-third of them being females. Heba Labib, the Director of the NilePreneurs Initiative and the Innovation and Entrepreneurship Center at Nile University, emphasized that the initiative has played a crucial role in reinforcing innovative solutions across strategic national sectors such as information technology, artificial intelligence, and innovative industries. Additionally, she highlighted the milestone achieved in environmental sustainability through backing projects aimed at reducing greenhouse gas emissions, as well as waste, air, and soil pollutants.
NilePreneurs is a nationwide initiative that was launched in 2019 and is supported by the Central Bank of Egypt and the Egyptian Banking Sector. Through partnerships with governmental and private sector entities, NilePreneurs has been providing support to startups and SMEs in the manufacturing, agriculture, and digital transformation sectors by applying various innovation instruments. The initiative was initially piloted at Nile University and has since expanded to four other universities, with plans for further growth.
The accomplishments and impact of the NilePreneurs Initiative over the past five years demonstrate the significant contribution it has made to the development and growth of startups and SMEs in Egypt. By providing support, training, and opportunities for entrepreneurs, particularly female entrepreneurs, the initiative has not only driven economic growth but has also played a role in fostering innovation and sustainability in key sectors of the economy. As the initiative continues to expand and evolve, it is poised to further enhance the entrepreneurial ecosystem in Egypt and contribute to long-term economic development.
Read Original article on Egypt Independent
