The project seeks to build an innovation-enabling environment for young people.
In cooperation with the American University in Cairo’s (AUC) startup incubator, AUC Venture Lab, Egypt’s Ministry of Planning and Economic Development has announced the launch of a programme to build capacities of business incubators and accelerators.
On the ministry’s side, the jointly-led programme is being represented by the Rowad 2030 Project, and falls within the framework and under the support of Swiss nonprofit organisation, the Drosos Foundation. Broadly, the programme serves to improve support mechanisms that stimulate economic growth through the creation of diverse job opportunities.
Minister of Planning and Economic Development, Hala El-Said, said that through her ministry’s subsidiary Rowad 2030 Project, efforts were being exercised to support and develop business incubators, namely in artificial intelligence (AI) and tourism.
“The AUC Venture Lab is considered the first university business accelerator in Egypt, and contributes to accelerating more than 200 startups and creating more than 8,000 job opportunities,” El-Said added.
Ghada Khalil, Executive Director of the Rowad 2030 Project, said that the training programme incorporates three primary sections focusing on methods for designing and managing models for business incubators, accelerators, and programmes to support entrepreneurs.
Meanwhile, Wissam El Bayh, the Regional Director for the Drosos Foundation, praised the initiative, saying that the charity “believes that creating an appropriate environment to help young people innovate and provide practical solutions to societal challenges is one of the most important foundations for sustainable development.”