Egypt’s Minister of Investment and Foreign Trade, Mohamed Farid, announced that Egypt’s Sovereign Fund is studying the establishment of a venture capital company aimed at boosting funding for startups and strengthening the country’s entrepreneurial ecosystem.

Speaking at the launch of the Startup Egypt platform, Farid said startups play a vital role in driving economic growth and job creation. He noted that the government is close to finalizing a comprehensive regulatory package designed to simplify fundraising and expansion processes while supporting modern financing tools, including convertible notes.

The minister highlighted ongoing efforts to address funding gaps faced by startups during growth and scaling stages through more flexible investment mechanisms. He added that cooperation with the Sovereign Fund could encourage greater participation from major financial institutions, including banks, insurance companies, and pension funds.

Farid also stressed the importance of exporting digital products and services as a key pathway for building globally competitive Egyptian startups, reaffirming the government’s commitment to fostering innovation and creating a business environment that supports sustainable growth.