The Micro, Small, and Medium Enterprise Development Agency (MSMEDA) has introduced a groundbreaking product to empower young entrepreneurs. This initiative provides financial and non-financial services to facilitate the establishment and growth of various projects. The move aligns with the government’s vision to promote innovation, leverage modern technology, and introduce novel business models in the Egyptian market.
In honour of World Micro, Small, and Medium Enterprises Day, MSMEDA has unveiled a funding program specifically tailored for entrepreneurship, innovation, and technology projects. Eligible ventures include those developing new technological products, enhancing production technology, and exploring digital transformation and artificial intelligence. The financing options come with attractive interest rates and flexible terms, including a grace period of up to six months for repayment.
Beyond financial support, young entrepreneurs can access various non-financial benefits through MSMEDA. These include assistance with project licensing, regulatory compliance, technical guidance, marketing services, simplified tax procedures, and other advantages outlined in the Enterprise Development Law 152/2020.
This new product represents a significant stride toward fostering an innovative and technologically advanced entrepreneurial ecosystem in Egypt, providing essential backing for young visionaries to thrive in a competitive market.
