The Golden Bullet To Secure Egypt's Entrepreneurial Future

You wake up, grab your phone, and start scrolling through the news: “Egypt has once again been named the MENA region’s top startup hub.” Headlines highlight record-breaking exits by Egyptian startups.

The government has just announced a multibillion-dollar public-private initiative in the new space economy. You continue to read about a fresh wave of young entrepreneurs emerging from Cairo’s top accelerators.

The Egyptian Stock Exchange rings in the initial public offering (IPO) of Nawy – the biggest since MNT-Halan – paving the way for a surge of listings from African companies, while the Egyptian tech market index has just closed at an all-time high.

Meanwhile, universities and private corporations are launching cutting-edge research and development (R&D) partnerships, and the city’s streets buzz with talks of season nine of Shark Tank Egypt.

No, this isn’t science fiction – it’s what I believe Egypt will be in 2030.

When I embarked on my entrepreneurial journey 25 years ago, fresh from my studies in the United States, entrepreneurship was a foreign concept in Egypt. There were no venture capital (VC) firms, no supportive regulations, and no cultural frameworks to encourage risk-taking.

Today, Egypt’s transformation is nothing short of remarkable. VC funding has surged to around US$500 million – over 25x the amount in 2017. More than 20 local VC firms, alongside global investors, are now betting on Egypt. Entrepreneurship isn’t just a buzzword; it’s a movement reshaping the economy and inspiring the next generation.

Egypt is at a tipping point – on the verge of firing the golden bullet that could establish it as the leading entrepreneurial hub in MENA and Africa.

Why Now? Egypt’s Moment To Scale

Egypt’s entrepreneurial ecosystem today mirrors Latin America in the early 2010s. A decade ago, companies like Mercado Libre, Nubank, and Creditas led a wave of innovation, unlocking billions in investment and catapulting the region into the global tech spotlight. Today, Latin America is home to unicorns like Rappi and Loft, thriving tech hubs, and reinvested talent cycles that continuously propel its ecosystem to new heights.

Egypt stands at a similar crossroads. Egyptian startups now operate in over 15 countries, with industry leaders like Fawry going public and MNT-Halan raising around $160 million last year alone to fuel its international expansion. Paymob has become the leading financial service enabler in the MENA region, while startups like Taager and MaxAB are emerging as key regional players. The groundwork – nearly a decade of structured VC funding – is paying off.

However, Egypt’s ecosystem is still in the early stages of growth. Pre-seed and seed funding dominate, while large-scale exits remain few. The next stage? Big IPOs and high-value acquisitions that will fuel reinvestment and mentorship, creating a significant entrepreneurial multiplier effect across the ecosystem.

Looking ahead, Egypt’s startup ecosystem is poised for significant growth. Former founders will reinvest their expertise, while employees will be motivated to launch their own businesses – a common trait among unicorn founders, as identified by the Unicorn Founder Pathways research conducted by Endeavor, the leading global community of high-growth entrepreneurs. This cycle of reinvestment, mentorship, and accumulated experience will cultivate a new wave of skilled founders and stronger companies, positioning Egypt to compete regionally and globally.

By 2030, Egypt has the potential to raise over $5 billion in venture capital, fueling job creation, attracting global talent, and significantly contributing to economic growth. But what makes Egypt uniquely capable of leading this charge?

Egypt’s Golden Advantage: Its People

Egypt’s greatest asset lies in the resilience of its people. As the regional managing director for the MENA region at Endeavor, I’ve met and worked with entrepreneurs from all corners of the globe, and I can confidently say that Egyptian entrepreneurs have a truly unique and unmatched grit engrained in their DNA. Despite decades of political and economic turbulence, they’ve built thriving businesses, and an ecosystem that refuses to back down.

With this resilience and a growing tech-savvy youth population, Egypt is uniquely positioned to serve as the gateway to MENA, Africa, and even global markets. Companies like the Algerian unicorn Yassir and the Saudi fintech giant Tabby are already choosing Egypt as a key recruitment hub, tapping into the country’s growing pool of talent. Regional giants such as Careem, Foodics, and Talabat have successfully expanded their operations into Egypt.

But this is just the beginning. Egypt has the potential to evolve into a regional powerhouse – a launchpad for global software companies and tech innovators. But entrepreneurial potential alone doesn’t guarantee success. To unlock this potential and become a hub for innovation, Egypt must make decisive strategic moves.

Amr El-Abd is the Regional Managing Director for the MENA region at Endeavor and the Egyptian Prime Minister's Advisor for Entrepreneurship. Image courtesy Endeavor.

The Road Ahead: What Egypt Needs Now

Success won’t happen by accident. Just as startups chose Dublin and Berlin for their business-friendly tax policies and skilled workforce, Egypt must create a similarly supportive ecosystem. Urgent action in three critical areas is required for Egypt to fire its golden bullet effectively:

1. Clear And Streamlined Regulations

Entrepreneurs need a transparent, efficient regulatory framework. Simplifying licensing and compliance processes, and creating efficient systems will remove barriers and accelerate innovation. Over-regulation is the killer of innovation.

2. Talent Development

Egypt must invest in its human capital. Incentivizing foreign entrepreneurs and streamlining work permits will attract global talent. Meanwhile, upskilling programs in artificial intelligence (AI) and emerging tech will prepare the local workforce for an innovation-driven future.

3. Public-Private Partnerships

A strong collaboration between the government and the private sector is essential to building a thriving ecosystem and mobilizing the capital Egypt needs to fuel growth. By offering stability, these partnerships foster trust and credibility, attracting both local and foreign capital. Strategic investments in tech and infrastructure will create a clear pathway for venture capital to flow into innovative startups, scale businesses, and drive economic development.

These efforts must be coupled with a strong national narrative that raises awareness of the transformative power of entrepreneurship, and positions it as a key pillar of economic development. Public perception matters – when governments, investors, and society rally behind entrepreneurship, ecosystems thrive.

In my new role as the Egyptian Prime Minister’s Advisor for Entrepreneurship, I strive to achieve this within a unified national framework that brings together all key stakeholders around a shared vision for entrepreneurship and Egypt’s future.

When I first started my entrepreneurial journey all those years ago, I couldn’t have predicted how beautifully this ecosystem would evolve. Today, entrepreneurship in Egypt stands at a decisive moment. The golden bullet is loaded, but the shot must be precise, strategic, and deliberate.

About The Author

Amr El-Abd is the Regional Managing Director for the MENA region at Endeavor, as well as the Egyptian Prime Minister’s Advisor for Entrepreneurship.

This article first appeared in the January/February issue of Inc. Arabia magazine. To read the full issue online, click here.