On behalf of the German government, GIZ Egypt, through the Agricultural Innovation Project, and in cooperation with the Ministry of Agriculture and Land Reclamation and Chemistry, organized the closing ceremony of the development program and business acceleration in Minya Governorate.
The closing ceremony took place over two days. Business Development and Acceleration Program activities began in May 2021, with the aim of creating employment opportunities, increasing competitiveness and promoting sustainable and inclusive growth by supporting the growth of innovative businesses and introducing new opportunities for youth and women in rural communities in Minya. The program was implemented through five main key interventions: business opportunity mapping, train-the-trainer (ToT) program, incubator support, and incubation and acceleration programs.
The acceleration program took place over two rounds with the participation of 51 companies in total. Thirty-one companies qualified for the second round of the program. At the end of the program, participating companies managed to increase their profit percentage by 20% and hired more than 140 new employees in their companies with 33% female representation.
The incubation program has served more than 75 projects, starting with the Bootcamp, where 31 teams with exciting ideas were chosen to benefit from a series of workshops and one-on-one consultations for the development of work plans, the marketing research and financial planning. Following this, a panel was held to evaluate the ideas presented in the program and 25 ideas were selected to benefit from the first Agricultural Innovation Project grant. All projects were encouraged to register legally to be officially registered and have the chance to compete for the second grant. During the closing ceremony, four companies managed to register legally with the support of the Micro, Small and Medium Enterprises Development Agency. The startups are Asmastevia, the agricultural innovation incubator, Dr Yu and St George Apiary.