Egypt needs upping by 10 times money allocated for funding talented people – Alfi

14 / 06 / 2021

By Marwa Nassar - -

Egypt has best engineers and technical talent in the Arab world and it needs upping by 10 times the money allocated for funding talented people, CEO and co-founder of Flat6Labs and Sawiris Ventures Ahmed Alfi said.

He made the remarks on Monday during the third edition of the Forum on Strategies for Transition to Green Economy – which is organized by CSR Egypt under the patronage of Premier Moustafa Madbouli.

The Egyptian market needs to be developed to be able to absorb available innovative ideas in order to have an immediate impact on society, he said.

Asked if he sees certain score where entrepreneurship focuses in Egypt, he said fintech is figuring high now in Egypt because the government, the Central Bank of Egypt and regulators have taken very positive steps to encourage fintech innovation.

He noted that fintech improves the banks’ business, that’s why it is very popular right now.

Education and its applications are very important, he said, referring to Nafham Education app which has all needed materials of the Egyptian curricula and it is offered for free.

He urged people to take different directions, not to run the same way.

He lauded Egyptian banks, including National Bank of Egypt, Banque Misr Suez Canal Bank, for backing entrepreneurs.