The Arabian Cement Company announced during a press conference the launch of its social start-up programme, “Khaleeha Suessi”.
The programme is being supported by development organisation Nahdet El-Mahrousa, the first incubator of early-stage social enterprises in the Middle East and North Africa region.
The programme aims at promoting “positive social impact” and employment opportunities by providing entrepreneurs with the tools needed to successfully establish their own social start-ups, Arabian Cement said in a statement.
The launch press conference was attended by Arabian Cement CEO Jose Maria Magrina, and Nahdet El-Mahrousa Chairman Loay El-Shawarby.
The first phase of the programme is from 24 May to 4 July, where applicants are to submit their initial proposals. This would include hosting one information session in Cairo and two sessions in Suez, to increase awareness of and provide information on the programme.
“Once the applications have been considered by the panel of experts, 15-30 shortlisted applicants will be announced on 12 July,” the company said.
The following phases of the programme include offering support to the selected applicants, to enable them to develop a final proposal about their enterprises. The final five to seven enterprises chosen on 10 October for the incubation phase will receive the seed funding.
“The programme will build the entrepreneurs’ technical skills in fields such as management; business and strategic planning; marketing; and public relations, and provide direct access to experts for legal and financial consultation,” the statement read.