Presidential Advisor: Egypt is Building a Knowledge-Based Economy to Empower Startups and Youth

Egypt is accelerating a shift toward a knowledge-based economy to empower startups and young innovators, Presidential Advisor for Economic Affairs Dr. Hala El‑Said announced at a press conference unveiling Cairo as host of the third edition of the Global Entrepreneurship Festival, scheduled for November 6–8. El‑Said said the state — led by the Government, the Central Bank of Egypt (CBE) and the Financial Regulatory Authority (FRA) — has launched sustained regulatory and legislative measures, plus operational mechanisms, to nurture the entrepreneurship ecosystem and reduce barriers for early-stage companies.

"These measures represent a broader system designed to stimulate innovation and encourage investment in startups, reflecting the state's deep commitment to this sector as a primary engine for upcoming economic development."

El‑Said framed the reforms as components of a comprehensive vision to bolster a knowledge-driven private sector and to mobilize Egypt's demographic dividend. She highlighted tangible support instruments already activated across the public and private landscape, including business incubators, accelerators, regulatory sandboxes and intensive training programs. In addition, officials have introduced a package of measures aimed at streamlining startup incorporation and operations and cutting bureaucratic hurdles for early-stage entrepreneurs.

"Entrepreneurship is no longer an alternative path or a mere option; it has become an absolute necessity to drive Egypt's development, enhance the national economy's resilience to global shifts, and create new avenues for growth, employment, and investment," El‑Said said. She added, "Real investment, she noted, is investing in creative individuals capable of turning ideas into achievements and challenges into opportunities."

The advisor underlined the regional significance of hosting the Global Entrepreneurship Festival in Cairo, calling it "an exceptional global event" and a milestone that reflects Egypt’s rising status as a regional and international hub for innovation. El‑Said said the festival will serve as a platform connecting startups and entrepreneurs with financial and investment institutions across Africa and the world, increasing integration between Egyptian ventures and international capital flows.

• Event: Global Entrepreneurship Festival — 3rd edition, Cairo, November 6–8.
• Key state actors involved: Government, Central Bank of Egypt (CBE), Financial Regulatory Authority (FRA).
• Support mechanisms highlighted: incubators, accelerators, regulatory sandboxes, intensive training, streamlined incorporation procedures.
• Demographics cited: more than 60% of Africa's population is under age 30, framing entrepreneurship as a pathway to convert that dividend into productivity and jobs.

El‑Said emphasized the human dimension of the policy push, urging founders to treat failure as a learning step and to cultivate self‑confidence and continuous learning. "Startup success requires self-confidence, continuous learning, and viewing failure as a natural part of the journey," she said, noting that early setbacks should be treated as crucial learning steps rather than obstacles.

Looking ahead, the administration expects the festival to cement Cairo's position on the global entrepreneurship map and to deepen links between Egyptian startups and African and international investment networks. The broader policy aim is to translate youth-driven innovation into scalable startups that increase employment, enhance economic resilience and attract sustained investment into Egypt's growing knowledge economy.