Cairo: Prime Minister Mostafa Madbouli announced the launch of the country's first Startup Charter, emphasizing the government's ongoing efforts to enhance the business environment for startups, following directives from President Abdel Fattah El Sisi. Speaking at the launch event held at the Grand Egyptian Museum, Madbouli highlighted the series of measures the government has implemented in recent years to support entrepreneurs and innovators, recognizing startups as crucial contributors to economic growth, job creation, and competitiveness.

According to State Information Service Egypt, Madbouli commended the progress made in restoring macroeconomic stability and advancing structural reforms, which have fostered a more conducive climate for private investment and innovation. He noted that the Startup Charter is the result of over a year of coordination through the ministerial group for entrepreneurship, involving more than 20 national entities and representatives from the startup ecosystem.

The Prime Minister described the charter as a practical framework with clear priorities aimed at supporting startups, promoting venture capital, and aiding young entrepreneurs in expanding into regional and international markets. He outlined the charter's objectives for the next five years, which include supporting up to 5,000 startups, creating approximately 500,000 direct and indirect jobs, attracting venture capital, expanding into international markets, and linking national challenges with innovative startup solutions.

Madbouli further detailed that the framework incorporates a unified definition of startups, a coordinated financing initiative targeting up to $1 billion over five years, and mechanisms to monitor implementation and update policies in response to market and technological developments. He emphasized that supporting young innovators remains a central pillar of the government's economic vision.