(Ecofin Agency) - On January 7, 2019, Egypt’s minister of investments and international cooperation, Sahar Nasr, and the communications and IT minister Amr Talaat, decided to increase their help to digital project holders. In that regard, the two ministers have decided to launch the "Fekretak Sherketak" initiative (Your idea is your company) in tech innovation centers created in universities.
Via this initiative, the ministries are elaborating entrepreneurship coaching and mentorship for students who hold IT projects. The initiative, which also offers judicial council, is aimed at developing youth entrepreneurship
Conscious that civil service cannot meet the permanent job demand of Egypt’s youth, the government has decided, since 2013, to develop self-employment while orienting the younger generation toward the strong growth prospect sectors like the IT. A set of incentive measures have thus been initiated not only for training but also for support in the project maturation, financial support, the development of startups and the continuation of the market.
According to the government, the startups that should be created thanks to that initiative will create jobs for the youth as well as wealth for the economy.