– The entrepreneurship sector has attracted around $2 billion in direct foreign investments over the past five years, resulting in the creation of approximately 50,000 direct jobs and 250,000 indirect jobs.

– The release of Entlaq’s Egyptian Entrepreneurship Sector Diagnostics Report for H1 2024 highlights the sector’s significant role in economic growth and employment, while also noting the need for increased incentives and government support.

– The report includes key recommendations for boosting entrepreneurship through initiatives like educational hubs, fintech regulations, and support programs, as well as social inclusion efforts and venture capital investments.

The entrepreneurship sector has attracted approximately $2 billion in direct foreign investments over the past five years. This influx has led to the creation of around 50,000 direct jobs and 250,000 indirect jobs, according to Omar Rezk, Co-Founder and Managing Director of Entlaq.

This announcement was made alongside the release of Entlaq’s Egyptian Entrepreneurship Sector Diagnostics Report for the first half of 2024. The report highlights the sector’s substantial contribution to economic growth and its significant role in employing young people.

Rezk emphasized that innovation is a key driver for startup growth and discussed the sector’s challenges. He called for increased incentives and government support, especially within the entrepreneurship domain.

The report also outlines key recommendations to foster the sector’s growth, focusing on various government and public-private initiatives designed to enhance entrepreneurship. Notable efforts include educational hubs, fintech regulations, agricultural support programs, and ICT innovations aimed at capacity building, financial inclusion, and technological advancement.

Additionally, the report underscores the importance of social inclusion initiatives for youth and women, as well as significant venture capital investments and cross-border partnerships. These combined efforts are intended to create a more resilient and inclusive entrepreneurial ecosystem, supporting sustained economic growth and a vibrant entrepreneurial culture in Egypt.