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NilePreneurs: LE2bn increase in sales of beneficiary companies within 5 years

The NilePreneurs Initiative, which is powered by the Central Bank of Egypt (CBE) and the banking sector, Saturday 10/02/2024 said sales of companies benefiting from the incubation and export excellence programs of the initiative have increased by some two billion pounds within five years, since the launch of the initiative in 2019.

The initiative, in a report issued to mark the fifth anniversary of its establishment, said that more than 1,500 companies have benefited from its programs, including 900 SMEs as part of the value chain and export support programs, 300 startups during the pre-incubation stage, 260 companies leveraged the digital transformation program along with 100 startups and SMEs tapping the innovation programs.

It added that the initiative has contributed to creating 2,300 job opportunities within the beneficiary companies alongside providing support for more than 180 female entrepreneurs as a founding partners of startups and SMEs.

Besides introducing as many as 1,100 companies to investors and industry experts, the initiative has provided training for 17,000 entrepreneurs, almost one -third of them are females.

Meanwhile, Director of NilePreneurs Initiative and the Innovation and Entrepreneurship Center at Nile University Heba Labib said that the initiative has contributed to reinforcing the innovative solutions across strategic national sectors, like the information technology, artificial intelligence and innovative industries.

She added that the initiative has achieved a milestone in the domain of environmental sustainability through backing projects aimed at reducing greenhouse gases emissions as well as waste, air and soil pollutants.

NilePreneurs is a nationwide initiative that started in 2019, powered by the Central Bank of Egypt and the Egyptian Banking Sector.

Fueled by various partnerships with governmental and private sector entities, NilePreneurs has been supporting startups and SMEs in the domains of manufacturing, agriculture, and digital transformation by applying different innovation instruments. The initiative is piloted at Nile University and has expanded to 4 other universities, and is still growing.

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