Egypt - The NilePreneurs initiative, one of the initiatives of the Central Bank of Egypt (CBE), implemented by the Nile University in cooperation with various entities and banks, has announced the launch of a new round of the business incubators program NP Incubate.

This program is aimed at supporting emerging companies and entrepreneurs. The construction and housing banks, the Suez Canal, the Egyptian Export Development Bank, and QNB Al Ahly are all participating in this initiative.

Mohamed Abbas, the associate director and head of the incubation program at NilePreneurs, stated that for the second consecutive year, the initiative has successfully launched four combined courses simultaneously. These courses cover a range of fields and activities that will support the local economy and contribute to the implementation of the strategy for sustainable development.

Abbas further explained that this year’s incubation cycle focuses on addressing the challenges faced by startups and entrepreneurs at different stages of their projects. It covers everything from the idea stage to the operational stage and launching products in the market.

The program also emphasizes engineering industries, local manufacturing, handicrafts, renewable and sustainable energy, technological applications, digital transformation, as well as supporting people with special needs and promoting financial inclusion.

Abbas emphasized the importance of launching these courses to provide various services to companies and entrepreneurs in Egypt. This demonstrates the belief in the significance of continuous support for owners of emerging ideas and projects, and the aim to create a new generation of efficient business professionals in various fields.

The initiative will offer a range of services to entrepreneurs and startup owners participating in these courses. These services include guidance, counseling, training, assistance in product development to enhance competitiveness, networking opportunities with markets, and other services that help transform young people’s ideas into reality. Additionally, the program supports projects, their expansions, and their ability to compete.

Abbas commended the continuous efforts of the CBE and the participating banks in providing support to ensure the success of the program and to maximize the benefits for entrepreneurs and startup companies.

The Engineering Business Incubator, sponsored by the Housing and Development Bank, is focusing on “clean energy” activities in its fifth session. This is in response to the urgent need for renewable energy solutions and the increasing challenges faced by innovative companies. The program aims to assist emerging companies in expanding access to energy, creating a revolution in clean cooking, and leading the shift towards renewable energy sources.

The Technology Applications Incubator, sponsored by the Suez Canal Bank, focuses on supporting entrepreneurs with special needs and those who own startup companies or companies that provide services to people with special needs. The course also targets female entrepreneurs and companies that support them, as well as companies that rely on artificial intelligence or activities that promote financial inclusion.

The Export Development Bank of Egypt is sponsoring the third session of the pre-incubation program, titled “From Idea to Startup Success,” which focuses on advancing technology-based entrepreneurial projects. The program will help transform ideas into functional models through intensive commercial and technical training provided by specialists. It also offers guidance and support for incubated ideas, fostering a dynamic and inspiring environment that enhances creativity and innovation.

The Creative Design Business Incubator, sponsored by QNB AlAhli Bank, is launching its fifth session under the title “Design for Sustainability.” The program aims to support entrepreneurs in the fields of home decor, furniture design, green fashion, and handicrafts that utilize recycled green materials.

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