Bank Masr Foundation and Nile University Partner to Empower 1200 Young Entrepreneurs in Egypt
The Bank Masr Foundation for Community Development has signed a cooperation protocol with Nile University to support the entrepreneurship ecosystem and train 1200 young individuals over the next three years. This partnership aims to foster innovation and turn creative ideas into successful startups in Egypt.
Key Details of the Partnership
The agreement was officially signed by Mrs. Ghada Al-Baly, CEO of the Bank Masr Foundation, and Dr. Hassan El-Dessouky, President of Nile University. The collaboration is set to run for a period of three years and targets the empowerment of 1200 young men and women through comprehensive support programs.
Objectives and Impact
The primary goal of this protocol is to significantly contribute to the development of the entrepreneurship sector in Egypt. By leveraging the expertise of both institutions, the partnership will provide targeted training, mentorship, incubation, and acceleration services to aspiring entrepreneurs and researchers. The program is designed to help participants transform innovative concepts into viable businesses, thereby stimulating economic growth and creating new job opportunities. Focus areas include fostering a culture of creativity and innovation among the youth.
Statements and Context
Mrs. Ghada Al-Baly highlighted the foundation's commitment to supporting youth and entrepreneurship as part of Egypt's Vision 2030, emphasizing the potential of young Egyptians to drive economic progress. Dr. Hassan El-Dessouky expressed enthusiasm for the partnership, noting Nile University's role in research and innovation and how this collaboration will bridge the gap between academic innovation and market implementation, providing students and young researchers with practical pathways to entrepreneurship. The initiative aligns with national efforts to build a robust knowledge-based economy.
About Bank Masr Foundation for Community Development
The Bank Masr Foundation for Community Development is the non-profit arm of Bank Masr, one of Egypt's largest national banks. The foundation is dedicated to implementing various social responsibility initiatives, with a strong focus on areas such as education, healthcare, and economic empowerment, including supporting entrepreneurship and youth development programs across Egypt.
About Nile University
Nile University is a leading non-profit research university in Egypt, specializing in engineering, technology, and business administration. Known for its focus on innovation and applied research, the university plays a crucial role in developing skilled talent and contributing to the tech and startup ecosystem through its academic programs, research centers, and entrepreneurship support initiatives.
Looking Ahead
The partnership between Bank Masr Foundation and Nile University represents a significant step towards strengthening Egypt's entrepreneurial landscape. By providing essential resources, training, and support to 1200 young individuals, the initiative is expected to nurture a new generation of founders, drive innovation, and contribute substantially to the diversification and resilience of the Egyptian economy in the coming years.
Source: Egypt Innovate