Bassel Rahmy, CEO of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), said state entities are working in close coordination to mitigate the impact of global economic challenges on startups and small and medium-sized enterprises (SMEs) in Egypt. He added that efforts are also focused on transforming the country’s entrepreneurship ecosystem from an opportunity-rich market into one driven by value and measurable results.
Rahmy noted that periods of economic stress can serve as a catalyst for more resilient and efficient outcomes, paving the way for sustainable growth models across the startup landscape.
He made his remarks while chairing a high-level roundtable on accelerating Egypt’s startup investment ecosystem, organised by Intilaaqah in cooperation with Coalition Africa under the theme “Policies and Investment in Startups in Egypt”. The event brought together senior policymakers, international partners, banking sector representatives, and investors to explore ways to strengthen collaboration and enhance the competitiveness of Egypt’s entrepreneurship sector.
The roundtable forms part of MSMEDA’s broader efforts to support entrepreneurship and expand cooperation with key stakeholders, particularly private sector players and international institutions, to foster innovation and encourage startup creation. These efforts are aligned with the regulatory framework set out in the Startup Charter launched by the government in February.
In his remarks, Rahmy stressed that achieving sustainable growth amid ongoing global economic shifts requires more than access to finance. He underscored the need for precise decision-making, data-driven strategies, and deeper coordination among all actors supporting the ecosystem.
He also reaffirmed MSMEDA’s commitment to implementing the directives of Prime Minister Mostafa Madbouly, who chairs the agency’s board, to turn regional and geopolitical challenges into opportunities that support resilient and sustainable growth in the startup sector.
The roundtable was attended by several international partners, including the Amahoro Coalition, Draper Richards Kaplan Foundation, and the Swiss Agency for Development and Cooperation.
Discussions focused on investment opportunities and challenges, priority sectors targeted by the Egyptian government, and recent updates to the Startup Charter as a key regulatory framework supporting growth.
The session concluded with a call to establish a structured mechanism for continuous coordination between the government, investors, and international partners to better align resources and accelerate the growth of Egyptian startups, contributing to broader economic development objectives.
