Speaking at the launch of Startup Egypt, Minister of Investment and Foreign Trade Dr. Mohamed Farid called for a healthier culture around startup failure and business closure, stressing that closing a company should be viewed as a normal part of innovation and risk-taking rather than a stigma or wrongdoing.
He noted that many startups do not succeed, but their attempts remain essential to testing new ideas, creating jobs, and driving economic growth.
Farid also reaffirmed the government’s commitment to creating a more flexible and supportive environment for startups to grow locally and expand into regional and international markets.
He described Startup Egypt as a pioneering platform that brings startups together with government institutions and investors, placing founders themselves at the center of the conversation.
The minister also announced that the Ministry of Investment and the General Authority for Investment are finalizing regulatory amendments to simplify startup operations, including convertible debt, shareholder agreements, and company valuation mechanisms.
He added that the government is working through the Sovereign Fund of Egypt on a listed venture capital vehicle aimed at encouraging banks, insurers, and pension funds to invest in the sector and help address the later-stage funding gap.