GAFI Announces New Initiative to Boost Egyptian Startups' Global Reach and Financing

Hossam Heiba, CEO of the General Authority for Investment and Free Zones (GAFI), has revealed a new initiative aimed at helping Egyptian startups penetrate foreign markets and secure better financing opportunities. This move underscores Egypt's increasing importance as a leading startup hub in Africa and the Middle East.

Heiba made the announcement during his participation in Techne Summit 2025, an event that gathered entrepreneurs and stakeholders from 70 countries. He emphasized that entrepreneurship and innovation are crucial for boosting Egypt's economic competitiveness. Platforms like Techne Summit are vital, he said, for giving startups the exposure necessary to secure investment and partnerships, helping young people turn innovative ideas into sustainable, viable projects.

In reviewing GAFI's support structure, Heiba highlighted the Authority's permanent unit for startups and entrepreneurship. This unit plays a key role in coordinating stakeholders, researching global best practices, and collaborating with regional partners to ease the expansion of Egyptian startups abroad. It also supports the government's policy framework by working with Egypt's ministerial group for entrepreneurship.

Heiba asserted that backing startups is essential for realizing Egypt’s Vision 2030 goals, which prioritize innovation-driven growth, stronger export capacity, better links between research and industry, job creation, and the development of a knowledge-based economy.

Calling startups "engines of competitiveness, employment, and innovation," Heiba concluded that the upcoming initiative will provide both practical programs and executive frameworks to empower entrepreneurs to thrive globally, cementing Egypt's status as a dynamic regional hub.