As Egypt’s startup ecosystem continues to gain momentum, the Netherlands has touched down in Cairo to join in the frenzy. This is represented in the recently signed partnership between Egypt’s Ministry of International Cooperation and the Netherlands embassy in Cairo as well as Alexbank for the launch of an entrepreneurial programme called “Orange Corners Egypt”.
Orange Corners Egypt is a Dutch program that offers training, networks, and facilities to young entrepreneurs looking to start and develop creative businesses.
“Egypt’s youth are the driving force of our nation. Only by involving, empowering and enabling them, we will be able to achieve real strides towards sustainable development. 2021 is the year of private sector engagement: we are pushing towards the national development agenda through public-private partnerships that foster the sustainability ethos and spread it across several sectors; especially the entrepreneurial scene,” Rania Al-Mashat, Egypt’s Minister of International Cooperation, said.
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Here Is What You Need To Know
- The project is divided into two incubation programs, one in Cairo and the other in Upper Egypt (Assiut), each of which provides recurring 6-month training cycles for 15–25 entrepreneurs at a time. The entrepreneurial training gives particular attention to startups in agriculture and the creative field, and ensures that at least half of the participants are women.
- Orange Corners Egypt will be able to associate enrolled entrepreneurs with follow-up opportunities within the Egyptian entrepreneurial ecosystem more easily thanks to the Ministry of International Cooperation’s support. The Ministry will assist the program’s implementation partners in finding untapped opportunities for creative ideas to contribute to Egypt’s growth through various sectors while achieving the SDGs.
- Alexbank, one of Egypt’s largest banks, will be a key private sector investor in the program. It will contribute an annual financial contribution to the program as well as in-kind assistance, such as master classes and mentorship for participating entrepreneurs.
- Egyptian service providers Cultiv in Cairo and Outreach Egypt in Upper Egypt provide entrepreneurship training in Egypt. In the first quarter of 2021, the first training cycles began.
“Our participation in the Orange Corners initiative by the Embassy of the Kingdom of the Netherlands in association with the Ministry of International Cooperation is driven by our strong belief in Egypt’s startup scene. Egypt is a country of talented youth seeking the opportunity of becoming entrepreneurs, and the Orange Corners model can certainly contribute to fulfil this wish by bringing also to Egypt a well-experienced startup framework. What’s more, we are excited to see the program hosting chapters in two distinct and vibrant regions of Cairo and Upper Egypt, thus offering a truly inclusive approach. We’re also particularly happy that the programme can provide opportunities in the field of agribusiness and agritech, giving the chance to a new generation of entrepreneurs to venture into the evolution and integration of the agricultural sector that is so important to Egypt,” Dante Campioni, CEO of Alexbank, said.
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Han-Maurits Schaapveld, Ambassador of the Netherlands, said:
“Young Egyptian entrepreneurs are the oxygen of Egypt’s economy. Therefore, we are very excited to collaborate with the Ministry of International Cooperation and Alexbank to provide essential support for entrepreneurs to further develop their skills and ideas through Orange Corners Egypt.”
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer