The NilePreneurs Initiative: The incubator that boosts the Egyptian economy
The NilePreneurs initiative, launched in 2019 by the Central Bank of Egypt (CBE) and the banking sector, is celebrating its five years of existence with impressive results. According to a recently released report, sales of companies benefiting from the incubation and export excellence programs have increased by two billion Egyptian pounds since the launch of the initiative.
More than 1,500 companies have benefited from NilePreneurs programs, including 900 SMEs under the value chain and export support programs, 300 startups during the pre-incubation phase, and 260 companies that have benefited from the digital transformation program, as well as 100 startups and SMEs who participated in the innovation programs.
The initiative also contributed to the creation of 2,300 jobs within beneficiary companies, and provided support to more than 180 female entrepreneurs as founding partners of startups and SMEs.
On top of that, NilePreneurs has facilitated over 1,100 companies connecting with investors and industry experts. Additionally, the initiative has provided training to 17,000 entrepreneurs, almost a third of whom are women.
Director of the NilePreneurs initiative and the Center for Innovation and Entrepreneurship at Nile University, Heba Labib, says the initiative has helped strengthen innovative solutions in strategic national sectors such as technology. information, artificial intelligence and innovative industries.
She also highlights that the initiative has taken an important step in the field of environmental sustainability by supporting projects aimed at reducing greenhouse gas emissions as well as waste and air and soil pollutants.
NilePreneurs is a national initiative launched in 2019, driven by the Central Bank of Egypt and the Egyptian banking sector. Through partnerships with government and private entities, NilePreneurs supports startups and SMEs in manufacturing, agriculture and digital transformation by applying different innovation instruments. The initiative started at Nile University and has expanded to four other universities, and continues to grow successfully.
With its significant impact on the Egyptian entrepreneurial ecosystem, the NilePreneurs initiative plays a key role in the country’s economic development. By supporting entrepreneurs and encouraging innovation and exports, NilePreneurs actively contributes to Egypt’s economic growth and the creation of sustainable jobs.