Education
Egypt's 'State of Innovation' initiative targets 500m pounds to fund student startups
October 27, 2026 at 08:28 AM
Egypt's Higher Education Ministry announced the 'State of Innovation' initiative, targeting 500 million Egyptian pounds over three years to turn student ideas into projects and startups.
- Prime Minister Mostafa Madbouly announced the intention to launch the initiative during the Egypt 2026 Forum.
- The ministry targets a financing portfolio of 300 million pounds in government funding and 200 million pounds in private-sector investment.
- Minister Abdel Aziz Qansouh said the initiative aims to link scientific research outputs with industry needs and support entrepreneurship.
- Spokesperson Adel Abdel Ghaffar said it targets establishing startup companies and building capacity in AI, electronic chips, biotechnology, and clean energy.