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What the United Bank contributed to Nile Preneurs Initiative?
The United Bank has offered technical and financial support for five entrepreneurship ideas, emerging companies and startups under the Nile Preneurs Initiative during 2019.
The Nile Preneurs initiative for supporting entrepreneurship as well as emerging and small enterprises has marked its first year of achievement.
The initiative is sponsored by the Central Bank of Egypt (CBE) and is implemented in collaboration with the Nile University.
A ceremony was held to mark the first year of achievement of the Nile Preneurs Initiative with the participation of Deputy Governor of CBE Gamal Negm, CBE Governor Undersecretary for banking development Nermin El Tahri, the initiative’s Executive Manager Heba Labib, former Arab League Secretary General Amr Moussa and Nile University President Tareq Khalil.
During the ceremony, United Bank Board Chairman Ashraf El Qady highlighted the achievements realized in addition to organizing workshops to support entrepreneurs and startups nationwide.
The bank has also worked on removing the obstacles facing the implementation of promising entrepreneurship ideas.
The five projects – which the bank supported in collaboration with the Nile University and Mansoura University – include projects of an electric car, milk production and talking glasses.
Electric car project:
The bank financed the first Egyptian-made electric car, scooter and mobile restaurant.
Under the Nile Preneurs Initiative, the bank funded the first workshop for producing an eco-friendly Egyptian-made electric car in the industrial zone of the Upper Egypt governorate of Menya.
The electric car was fit out by an option to operate by solar-powered batteries.
The owner of the project developed the idea to manufacture an electric scooter in addition to a mobile restaurant that can be a startup for youths.
The project contributes to combating unemployment as well as getting rid of spreading tok-tok which causes grave harm to the environment.
The bank coordinated with the Nile University to inspect the Egyptian-made electric car, then the university provided the entrepreneur with needed designs to develop his product while taking into consideration the product’s usability in addition to ensuring high safety measures.
Milk projects:
Secondly, the bank has also backed three projects in collaboration with the International Labor Organization in the field of manufacturing dairy products.
The bank participated and organized a number of workshops for spreading awareness among entrepreneurs at its pavilion at Nile University. The workshops were organized in tandem with the International Labor Organization.
It also participated in three diary projects (Milka, Milkawy and Milk I Test). The Qotor center of Gharbiya governorate was selected for practical application of the three diary projects because this center is considered the largest for milk production hub in Egypt.
The idea of the three projects is meant to innovate digital and practical solutions for increasing milk production and encouraging milk-based nutrition industries. This goal can be attained through addressing several problems, topped by adulteration of milk, product validity and milk collection process.
Entrepreneurs have invented an apparatus for detecting adulteration of milk at the milk collection hub where farmers pile the milk.
Meanwhile, another group of entrepreneurs used digital technology to innovate a new mobile phone application to set a date for sending milk to collection centers so that this would save time and ensure safety and quality of milk.
Another entrepreneurs group invented an apparatus for detecting the quality of milk.
Talking glasses:
Thirdly, the bank has also offered technical and financial support for the project of talking glasses for visually impaired people which was presented by Mansoura University students.
The bank coordinated with the Nile University to offer technical support for entrepreneurs of the first Egyptian glasses which can talk in Arabic and English to help visually impaired people.
The talking glasses project was part of the Nile Preneurs Initiative.
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