The Micro, Small, and Medium Enterprise Development Authority (MSMEDA) is embracing a new strategy based on Venture capital  to support innovative entrepreneurs, its chairperson Nevine Gamea said during the ICSB World Congress 2019.

She also stressed on the importance of introducing new financing tools while funding the innovative projects.

Gamea further pointed out that MSMEDA has recently signed an agreement with the World Bank to support SMEs estimated at $ 200 million of which $50 million directed to innovative projects.

The ICSB World Congress 2019 is taking place for the first time in Cairo between June 18th – June 21st.

Founded in 1955, the ICSB is a non-profit organisation devoted to continuing management education for entrepreneurs and small business.

It was the first international membership organisation to promote the growth and development of small businesses worldwide. The organisation brings together educators, researchers, policy-makers and practitioners from around the world to share knowledge and expertise in their respective fields through publications, programs, workshops, training sessions and certifications.