• Home
• Business

Dr. Ahmed Rostom, Minister of Planning and Economic Development, discussed mechanisms for launching the "Joint Startup Forum" with Indian Ambassador to Cairo, Suresh K. Reddy. The meeting aimed at deepening the strategic partnership between both nations in innovative financing and entrepreneurship support, aligning with shared development goals.

Egyptian Plan to Support Entrepreneurship and Fuel "Unicorn" Companies

Minister Ahmed Rostom emphasized that entrepreneurship is a core pillar for boosting the competitiveness of the Egyptian economy and creating new job opportunities. He explained that the government places the sector at the forefront of its priorities through an operational plan aimed at encouraging the emergence of new "unicorn" companies and offering support to researchers and students. Furthermore, the Minister expressed Egypt's enthusiasm to leverage India's advanced expertise in digital public infrastructure and innovative financial solutions.

A Gateway to Expansion in Africa and Europe, Powered by Fintech

For his part, the Indian Ambassador highlighted that the Egyptian market provides a strategic launching pad for Indian startups aiming to reach African and European markets, drawing on India’s massive ecosystem of over 240,000 startups. He reiterated his country's commitment to incorporating financial technology (Fintech) firms and digital service providers, such as NPCI, into upcoming investment delegations traveling to Cairo.

150 Indian Companies to Explore Investment Opportunities in Egypt

The Ambassador announced arrangements for a major investment delegation comprising 150 Indian companies to inspect investment opportunities on the ground in Egypt. He noted that existing Indian investments stand at nearly $5 billion across 55 factories, providing over 35,000 jobs. Additionally, he extended an invitation to the Egyptian Minister to visit India to explore "India Vision 2047" and attend the annual NASSCOM conference.

A Permanent Platform to Empower Young Talent

The meeting concluded with an agreement to institutionalize future cooperation by launching the "Egyptian-Indian Joint Startup Forum." The forum will serve as a permanent umbrella to build bridges between young talent in both countries and unlock new horizons for investment and mutual growth.