Status
ImplementationAid type
Contributions to specific-purpose programmes and funds managed by implementing partnersEgypt
Location
-
€ 5,000,000
Committed
Committed
€ 1,300,000
Used
Used
Description
The Micro, Small and Medium Enterprise Development Authority (MSMEDA) is receiving financing from the World Bank to establish a USD50 million Fund-of- Funds program that aims to mobilize private participation in early-stage financing. This work is carried out under the Catalyzing Entrepreneurship for Job Creation Project. With World Bank support, MSMEDA has launched the Fund of Funds, and will invest in 10-15 early-stage funds (accelerators, seed funds, early-stage and growth stage VC funds) in Egypt. In addition, MSMEDA is developing and launching complementary initiatives to support the development of the venture capital sector in the country. This proposal to the Italian Agency for Development Cooperation aims to bridge key gaps in the HGE eco-system in Egypt through four activities: 1) improving investment readiness capabilities of startups and entrepreneurship support organizations (ESOs); 2) piloting an international linkages accelerator; 3) scaling up business angel investing; and 4) strengthening the venture capital sector by building capacity of local fund managers and investors. The project supports start up managed by women.
read more
close
| Year | Committed | Used |
|---|---|---|
| 2023 | € 5,000,000 | € 1,300,000 |
Agency
| Type | Name | Channel code |
|---|---|---|
| Government | AICS - Italian Agency for Cooperation and Development | 11000 |
Channel reported
| Type | Name | Channel code |
|---|---|---|
| Multilateral | GFDRR - WORLD BANK INSTITUTE | 44000 |
Project data
Sectors
Policy markers
SDGs
-
-
-