The Elevate Lab initiative announced the launch of the final showcase of its intensive training program for entrepreneurs and startups in Egypt. The initiative is delivered in cooperation with Enactus Egypt, Exits MENA, and several ecosystem partners, and is held under the auspices of the Ministry of Youth and Sports and the General Authority for Investment and Free Zones (GAFI).
GAFI CEO, Mr. Hossam Heiba, took part in the program’s final showcase, where the selected entrepreneurs presented their projects before a high-level judging panel composed of leading experts, investors, and entrepreneurship ecosystem figures. The event brought together more than 200 attendees, including entrepreneurs, partners, and supporters.
This milestone gathering served as an important platform to highlight the participants’ achievements throughout the program and to offer real opportunities for startups to strengthen their market presence and unlock new pathways for growth and investment.
Moreover, Heiba affirmed that Egypt is experiencing an exceptional moment marked by unprecedented and highly promising opportunities for entrepreneurs and startups—both in scale and diversity. He urged young innovators to seize these opportunities, underscoring the importance of strengthening the business environment to enable them to launch their ideas and transform innovation into added economic value that supports growth and development.
Heiba also explained that GAFI is working to improve the business environment through streamlined company-incorporation procedures, including company one-stop shop, in addition to establishing a fully integrated unit to serve startups. He noted that GAFI also provides a range of incentives and fee-free services to support the startups segment.
In addition, he stated that GAFI, the Financial Regulatory Authority (FRA), and the Egyptian Tax Authority (ETA) are working together to provide the necessary facilitation measures for startups and to ensure they receive the institutional support needed for sustainable growth. He stressed that entrepreneurs are the business leaders of tomorrow and a key driving force of the Egyptian economy.
Heiba also announced the launch of Technology Hub in the Nasr City Free Zone, established in partnership with a specialized developer. The hub will serve as an integrated center designed to help startups scale up, expand into foreign markets, and strengthen their competitiveness at both the regional and international levels.
Furthermore, GAFI CEO highlighted the importance of Egypt’s accession to the European Union’s Horizon Europe program, describing it as a vital gateway that connects research institutions and scientific centers with the broader innovation and entrepreneurship ecosystem.
He noted that the program offers a golden opportunity to leverage national research capacities in developing innovative solutions with strong global competitiveness.
Heiba concluded by expressing his confidence in the potential of youth and their pivotal role in the country’s economic future, noting his ongoing interest in reviewing as many promising entrepreneurial ideas as possible.
The program is part of Egypt’s efforts to empower young people and strengthen the role of entrepreneurship as a key driver of economic growth. The current edition of the program received overwhelming interest, with over 1000 project ideas submitted from across the governorates. Following a rigorous evaluation process, only 10 startups were selected to receive the program’s awards in recognition of their innovations and their promising potential for expansion.
