The Micro, Small, and Medium Enterprises Development Authority (SMEDA) will hold a youth competition nationwide to encourage new, innovative, and value-added ideas that can be implemented as small projects with good economic feasibility.

SMEDA’s CEO, Nevin Gamea, said that this competition is part of the memorandum of understanding (MoU) signed by the agency with the ministry of youth and sports, adding that it will benefit 81 young men and women. SMEDA will finance the winning projects, through several schemes penned to match the nature of each idea, in addition to providing technical and marketing services, to help them continue and grow.

The Ministry of Youth will provide premises for holding the training courses and qualifications for applicants, and will also secure accommodation for the top three winners at the ministry’s youth centres.

The competition is scheduled to be announced on the official websites of SMEDA, and the Ministry of Youth on 21 October.

Both entities have previously signed a MoU to provide decent, and sustainable employment opportunities for young people, enhance the entrepreneurial culture, support, develop their skills and abilities to become successful entrepreneurs, as well as enable them to grow and develop.

According to Gamea, a previous protocol on the establishment and development of playgrounds, swimming pools, and gymnasiums has been activated between the ministry and SMEDA.

The protocol includes the regulatory controls and regulations for the construction of five stadiums, swimming pools, and gymnasiums in youth centres. The new project aims to provide care, support, and assistance to youth, improve the services offered to them, and rehabilitate youth centres, and sports stadiums in all governorates, to host social, sports, and cultural events.