This programme, a collaboration between the Dutch government, the Ministry of International Cooperation, the Bank of Alexandria, and the Madinet Masr Company, aims to support entrepreneurship and innovation in Upper Egypt.
The sixth edition of the programme marks a significant milestone in Egypt's efforts to enhance the entrepreneurship environment and empower female entrepreneurs, as 59 percent of the graduated companies are led by women.
Dr Al-Mashat commended the achievements of the entrepreneurs and emphasized the role of startups in creating job opportunities, particularly for the youth.
Over the past three years, the Orange Corners program has contributed to 44 percent growth in business volume among startups and an over 80 percent growth in revenue.
Dr. Al-Mashat expressed her gratitude to the Kingdom of the Netherlands, the Bank of Alexandria, and the Madinet Masr Company for their support in providing training and consultations for entrepreneurs.
Ambassador of the Kingdom of the Netherlands to Egypt Peter Mollema highlighted the importance of the programme in supporting young entrepreneurs and creating job opportunities, particularly for young people with limited resources. He praised the successful partnership between the private sector and the Dutch government, facilitated by the Ministry of International Cooperation.
The ministry is committed to strengthening the government's strategy of supporting emerging companies and entrepreneurship in Egypt. They have launched the Private Sector Engagement Portal as a platform that offers various financing opportunities, technical support, and training programmes to support entrepreneurs.
The minister emphasized the significance of the startup sector in attracting foreign investments and enhancing human capital. Egypt leads the North African region in startup deals, with 129 companies securing over $1 million in funding, totalling more than $2.1 billion from 2019 to October 2023.
The Orange Corners programme provides training, business networks, and support to entrepreneurs in innovative businesses. It includes two independent business incubation programmes in Cairo and Assiut, with a focus on agriculture and creative industries. The program ensures the participation of women entrepreneurs and is implemented by local partners Cultiv and Outreach Egypt Development Consultations.
Dr Al-Mashat previously visited Assiut Governorate in March 2022 to witness the graduation of startup companies and observe various development projects implemented through international partnerships.
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