Egyptian start-ups received a total of $4 million in venture debt funding in 2023, representing an 86% year-on-year (YoY) drop, according to Magnitt’s 2023 MENA Venture Debt Investment report.

The General Authority for Investment and Free Zones (GAFI) will launch a platform tasked with streamlining procedures for entrepreneurs and emerging companies within a few days, Prime Minister Mostafa Madbouly announced.

Egypt-based venture capital company Sawari Ventures is planning to launch a new fund to invest around $150 million in Egyptian start-ups.

Egyptian start-ups have secured $24 million in financing in January 2024.

The Financial Regulatory Authority (FRA) has received requests from more than 10 fintech startups willing to engage in non-banking finance activities.

Edventures, Nahdet Misr Group’s corporate venture capital, is targeting to invest around $5 million in 2024 to back start-ups locally and regionally.

Huawei has signed a cooperation agreement with Intlaq, which is specialized in supporting entrepreneurial projects, to support technology start-ups in Egypt.

The General Authority for Investment and Free Zones (GAFI) is considering issuing silver licenses for start-ups before the end of 2023 to facilitate its business activities.

Flat6Labs has launched Makers, a construction-tech innovation program, in partnership with SIAC and Dar-Al-Handasah to provide up to $100,000 in financing to start-ups.

The Egyptian Exchange (EGX) is considering launching a sub-market for start-ups, EGX’s Chairman Ramy El-Dokany said.

Egyptian Prime Minister Mostafa Madbouly has issued a decision on setting up a standing unit specialized in proposing policies, laws, and regulations required for the growth of start-ups in Egypt.