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Arab Finance: Basel Rahmy, CEO of the Micro, Small, and Medium Enterprises Development Agency (MSMEDA), participated in the launch event of Startup Egypt, highlighting the agency's efforts to back the startup ecosystem, according to a statement.
During his speech, Rahmy revealed that MSMEDA has supported more than 209 startups, enabling them to leverage the legislative incentives and financing programs in Egypt.
Egyptian entrepreneurs succeeded in building innovative and competitive companies capable of attracting local and international investment, Rahmy affirmed.
He further stated that MSMEDA prioritizes reinforcing entrepreneurship and startups, considering it a key driver of economic growth, job creation, and enhanced competitiveness.
The CEO outlined the agency's objectives to facilitate the entrepreneur's journey and empower them to access the needed services and opportunities to grow and expand rabidly and efficiently.
The MSMEDA continues to develop its tools and programs in collaboration with government agencies, the private sector, investors, and entrepreneurial support organizations (ESOs).
Through its membership in the Ministerial Group for Entrepreneurship, MSMEDA has contributed to establishing a unified definition for startups and developing the criteria and standards used to classify emerging companies over the past three years.
Earlier this month, the agency signed a letter of intent with export technology platform EXBY to help small and medium-sized enterprises (SMEs) access new international markets and increase their contribution to Egyptian exports.
