The British Embassy in Egypt rolled out a new initiative under the title of “Start Egypt” yesterday.
The new intiative intends to provide support for small- and medium-sized enterprises (SMEs), British Ambassador John Casson said on Wednesday during a conference discussing SMEs in Egypt.
The value of the supporting initiative is 46 million Egyptian Pounds ($2.6 million).
“Start Egypt” was done in cooperation with the Egyptian company Flat 6 Labs and the International Finance Corporation (IFC). It will last for three years, benefiting 200 companies.
Start-ups and entrepreneurs can apply via the initiative’s official website, startegypt.com.
The initiative comes as a part of Britain’s support for the Egyptian economy, Casson said. He noted that the private sector and entrepreneurship are the real future for Egyptians.
The initiative’s supervisors will begin during the coming period to hold workshops and meetings. Soon after, they will select a group of entrepreneurs to train. In addition, The projects having tangible social effects, such as energy or education, will receive LE 450.000 in grants.