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 Volume of Investment  in  Start-up Digital Companies in Egypt  Doubled by 700%


Thu 19 May 2022 | 03:36 PM
Ahmed Moamar

Dr. Amr Talaat, Minister of Communications and Information Technology, mentioned a number of important figures that crystallize the state’s keenness to promote a culture of technological innovation and support entrepreneurs and start-up digital companies.

The minister affirmed that the government plans to put Egypt on the global map in the field of entrepreneurship and build a digital Egypt, during his speech at the Senate’s plenary session.

He confirmed that 8 digital Egypt creativity centers have been established, and work is underway to establish 14 new centers in the governorates.

The minister added that the volume of investment in the start-up companies doubled from $190 million with 117 deals in 2020 to $490 million with 147 deals in 2021.

He pointed out that the establishment of companies is done through digital notification, allowing the opening of virtual companies without being restricted to the presence of a headquarters.