Egypt announces new startup regulations during Techne Summit in Alexandria

Egypt announces new startup regulations during Techne Summit in Alexandria

Over the past four days, Bibliotheca Alexandrina has embraced the 9th edition of Techne Summit, one of the main entrepreneurial annual events in Egypt and the Mediterranean region, where entrepreneurs, officials, investors and young people aspiring to kick off their careers meet in seminars, workshops and networking events.

During his opening speech, Amr Talaat, Egypt’s minister of communications and information technology, asserted the efforts the state is exerting to enrich the entrepreneurial ecosystem, where he highlighted the incentives provided by the General Authority of Investment for both founders and investors.

“The General Authority of Investment is now working on launching a platform for establishing startups, where any citizen can remotely establish his startup with a capital of EGP1,000 ($32) with no set location required,” Talaat said in his remarks.