Egypt unveils new investment framework for Innovators Support Fund

Egypt is moving to place the resources of its Innovators Support Fund (ISF) under professional investment and financing mechanisms, aiming to generate returns that can help finance innovation, talent development, and entrepreneurship programmes, the Cabinet said on Thursday.

Prime Minister Moustafa Madbouly witnessed the signing of a cooperation protocol between the ministries of Higher Education and Scientific Research and Planning and Economic Development at the government headquarters in New Alamein. Thursday.

The agreement is designed to improve the investment of the fund’s resources while generating returns to support programmes for innovators and talented individuals, the government said.

The protocol was signed by Higher Education and Scientific Research Minister Abdelaziz Konsowa, who also chairs the Innovators Support Fund, and Planning and Economic Development Minister Ahmed Rostom, who chairs the National Investment Bank.

Madbouly said the agreement would strengthen coordination between the two ministries and help maximise the use of financial resources and assets held by public entities.

The fund’s resources will be managed through investment mechanisms aimed at generating higher returns while directing financing towards projects and initiatives with economic and developmental impact, he said.

The move is part of Egypt’s broader effort to strengthen its innovation ecosystem, develop entrepreneurship and make greater use of public-sector financial resources to support economic growth.

The fund was established to provide support to innovators and talented individuals, with the new framework intended to expand its capacity to finance innovation and entrepreneurship initiatives.