Cairo – Mubasher: The British Embassy in Cairo has launched a new GBP 2 million (EGP 47 million) programme called “StartEgypt” which aims to finance and train startups in Egypt.

Powered by Flat6Labs, StartEgypt was launched by British ambassador to Egypt John Casson in partnership with the International Finance Corporation (IFC), a member of the World Bank Group.

The initiative aims “to inspire and support thousands of Egyptian entrepreneurs through a number of entrepreneurial support services, awareness activities and a unique incubation programme,” a statement by the embassy showed.

The programme will help create jobs and solve social problems, Casson noted, indicating that IFC and Flat6Labs provide Egypt’s young entrepreneurs with the financing, advice, and exposure they need.

With its three themes of “Ideate”, “Build”, and “Accelerate”, StartEgypt was launched with the aim to support Egyptian entrepreneurs from the initial stages of their ideas all the way through to developing and scaling market-ready business solutions or products.

“Three years in Egypt have taught me just how much talent and energy and potential Egypt’s youth have. It’s never been more important to support Egypt’s young people and give them opportunities to fulfil their potential and develop their country,” said British ambassador to Egypt John Casson.

The StartEgypt initiative is “a new pillar in the partnership the UK is building with Egypt to inspire and empower young Egyptians play be leaders and champions in building an economy for all Egyptians and solve Egypt’s long-term challenges,” the ambassador highlighted.

StartEgypt will help “turn Egyptian ideas into international solution, and make them the champions of the future economy of Egypt,” Casson concluded.