Bassel Rahmy, Chief Executive of the Micro, Small and Medium Enterprise Development Agency (MSMEDA), announced that 40 companies have applied for the Agency’s classification certificate dedicated to innovative start-ups, enabling them to benefit from a wide range of government services, incentives and supportive legislation.
Rahmy said the move reflects growing interest among entrepreneurs in formalising their status to access state-backed facilitation measures designed to strengthen micro, small and medium enterprises (MSMEs). The certificate allows eligible companies to take advantage of incentives offered by various government entities under Egypt’s entrepreneurship support framework.
He added that MSMEDA is pursuing a strategic direction in the coming period centred on the full digitalisation of all services provided to MSMEs, streamlining procedures and enhancing accessibility for start-ups and small businesses nationwide.
Rahmy highlighted the extensive support mechanisms being introduced in line with the Start-ups Charter, announced on the sidelines of the RiseUp Summit. The Charter aims to foster innovation, facilitate market access and create a more enabling legislative and regulatory environment for emerging businesses.
His remarks were delivered during his participation in the fourth annual investors’ meeting of the DisrupTech Ventures, where he outlined MSMEDA’s strategic orientation and investment mechanisms to support Egyptian start-ups and entrepreneurs. This includes channelling investments into venture capital funds managed by experienced private-sector fund managers specialising in early-stage and growth financing.
Rahmy also reviewed the work of the Ministerial Group for Entrepreneurship, of which MSMEDA is a member, noting ongoing coordination to enhance the overall ecosystem for start-ups. He pointed to directives from Prime Minister Mostafa Madbouly, who chairs MSMEDA’s board, to provide comprehensive support to these enterprises in light of their economic impact, scalability and potential to attract foreign investment.
He stressed that the state is offering exceptional investment opportunities for young entrepreneurs, enabling them to expand operations and penetrate export markets.
On the sidelines of the meeting, Rahmy held discussions with representatives of international development finance institutions, venture capital funds, start-ups, entrepreneurs and senior banking officials to strengthen cooperation with MSMEDA and coordinate mechanisms to further support Egypt’s growing start-up community.
