Mr. Hossam Heiba, CEO of the General Authority for investment and free zones (SAGIA), met with a delegation of companies that are members of endeavor’s global network leading in supporting startups and entrepreneurship, to discuss investment opportunities in the Egyptian market in several sectors, including financial technology, electronic games, sustainability and Environmental Protection.
Mr. Hossam Haiba stressed the importance of partnership between the government and startups capable of creating innovative solutions to support the Egyptian economy and achieve its goals in terms of economic growth, export, employment and technology localization.
Mr. Hossam Haiba reviewed the authority’s efforts to support entrepreneurship activities over the past years, as the authority established the Bedaya Center for entrepreneurship and small and Medium Enterprises Development, which provided packages of advanced training programs in the field of Business Administration and economic and legal consulting, then the authority contributed to the establishment of Misr entrepreneurship company and the business incubator “Falak” to finance startups and accelerate their growth, and finally the authority hosted the permanent unit to support entrepreneurship and startups, which coordinates efforts among all concerned entities concerned with entrepreneurship in Egypt.
Mr. Amr el Abed, CEO of endeavor Egypt, said that the attractiveness of the Egyptian investment market, the availability of young talents, and the efforts of the government and private sectors to support entrepreneurship are some of the factors that have pushed the Egyptian market to be among the most growing markets in the startup sector globally, which invited investors from the rest of the world to invest in Egypt.
Mr. justines lacevicius, co-founder of transfer go, a British company specialized in financial technology, expressed the company’s desire to inject investments into the Egyptian market, to serve Egyptian expatriates abroad, to facilitate the pumping of their remittances supporting the Egyptian economy, as the company provides remittance service in 160 countries around the world, including countries hosting a large number of Egyptians abroad.
Mrs. Mary Ojo, from Carey first, the largest platform for developing, publishing and selling games in Africa, said that the company aims to localize electronic games in Egypt and make them more connected and expressive for Egyptians, as it has done in a number of countries on the continent, where it helped African game developers to achieve a good income despite the different cultures and languages, and the weakness of the technological infrastructure, pointing out that the Egyptian market has huge opportunities in the field of electronic game production.
Abdel Moez Sajed, CEO and founder of we Matrix, a company specialized in providing sustainability solutions for clothing companies, said that his company has already begun to cooperate with Egyptian manufacturers and provide sustainable solutions in accordance with the environmental requirements imposed by the most important imported markets for Egyptian clothing, in the United States and the European Union.
The company uses artificial intelligence technologies to improve the efficiency of the production process, quality control, analyze the training needs of workers, track the execution of orders and inventory volume, and optimize the use of enterprise resources, which led to a reduction in production costs by about 20% and increase the profitability of the industry.
