With Egypt making recent headlines as being the next hotspot for startups and entrepreneurs, it comes as no surprise that there are international institutions seizing this opportunity to help support the various businesses and projects in the current market grow. The Egyptian market is quickly adapting to the rise of the startup era, and there’s one institution in particular that strongly believes in the spirit of entrepreneurship and is helping in expanding the various projects directed towards sustainability.
Recently, Credit Agricole’s Foundation for Development along with Misr El-Kheir’s GESR, is aiming to support the flourishing startup market in Egypt through GESR’s fourth round by utilizing the bank’s extensive experience, as well as its trademark. The foundation also operates in the fields of education, health, entrepreneurship, and others that contribute in changing people’s lives to the better. While GESR is a business incubator affiliated to the leading NGO, Misr Elkheir foundation that supports innovators and entrepreneurs to turn their ideas and prototypes into products with market value. During the fourth round, the foundation and GESR have agreed to join forces to support innovative projects to turn into companies that have true sustainable value.
These projects include: SNP VERMI, a company which produces organic fertilizer using a Vermi-composting technique. The product helps agricultural lands to recover their soil fertility C.U.P is a company that collects and adds value to the SCG “spent coffee grounds,” which they use for mushroom cultivation. The startup aims to have sustainable production throughout the year filing the current market gap especially with today’s increasing demand. KIWA, an organic food production company that utilizes IAVS technology, which works which works on saving water and electricity needed in cultivation, hence reducing production costs significantly which enables the company to offer organic food with affordable prices. Ecomax, which offers a solution that works on converting sewage waste (sludge) in rural areas to bio-energy and organic fertilizers; the solution is built and customized based on client needs.
With the financial, economic and environmental challenges that faces the country, it’s always good to see how international institutions are stepping in to help the youth in fulfilling their new business ventures to make Egypt a better place for the future generations to come.
