Egypt MSME Development Agency to launch innovation unit

Mustafa Ismail Hassan, CEO of the Micro, Small, and Medium Enterprises (MSME) Development Agency, has announced the establishment of an ‘innovation support unit’. The unit is designed to provide specialized solutions for startups and small businesses facing technological, administrative, marketing, or operational challenges.

Speaking at the Egypt Forum in the New Administrative Capital, Hassan emphasized the agency's goal to build a knowledge-based, competitive economy. To support this, the agency plans to develop a comprehensive database for the MSME sector in cooperation with various state institutions. This platform aims to map out business operations, improve the investment climate, and enhance marketing capabilities by integrating small businesses into local and international supply chains.

Hassan also highlighted the importance of collaboration with financial institutions to identify the specific needs of entrepreneurs. He noted that support extends beyond mere financing to include assistance with production, operations, and governance to ensure long-term business sustainability.