Business Incubators... Tasks to do, targets to achieve



Mon, 26 Mar 2018 - 12:43 GMT


Mon, 26 Mar 2018 - 12:43 GMT

Rowad 2030 project logo – The project’s Facebook page

Rowad 2030 project logo – The project’s Facebook page

CAIRO – 26 March 2018: The Egyptian government intends to issue business incubators through Rowad 2030 project, which is affiliated to the Ministry of Planning.

Egypt Today reviews what business incubators are and their importance, in addition to their tasks.

What are business incubators?

A business incubator is a facility which provides new and startup projects and companies with several services such as affordable space, trainings and even financing.

What are the tasks of business incubators?

1. Providing investment services related to feasibility study of projects.

2. Offering financial, administrative, marketing and advice support to new and startup companies.

3. Provision of technical, financial and logistic support to small enterprises.

4. Administrative and technical trainings are also included in the tasks of business incubators by the incubator or private associations.

The importance of business incubators

1. Assisting in establishing productive or service projects that provide services that work on easing all possibilities to establish these projects.

2. Linking new projects to the market through connecting them with existing projects.

3. Connecting all incubated projects together to benefit from their strength and weakness points, and how to overcome these weakness points, in addition to achieving social goals such as developing human resources and finding solutions for unemployment.

4. Encouraging economic feasible investments which help in growing and developing the state’s economic situation.

Business Incubators and their incubated projects

The concept of Business incubators has begun in Egypt since the beginning of 2000s which helped in the existence of new and startup projects of youths.

TIEC - Technology Innovation and Entrepreneurship Center which is a governmental organization incubates projects for one year. Bey2olak, Ta2heal and Crowd Analyzer are incubated projects by TIEC and now exist in the business local market.

Injaz Egypt – a nongovernmental organization – is a business incubator that supports new and startup projects for three to six months; the most popular graduates from it are Recyclobekia, Axology and Simpion.

Gesr, which is affiliated to Misr el-Kheir Foundation, incubates projects related to water, energy, food, education and health fields from six months to a year. One of the most famous Gesr’s incubated projects is Jouzour that targets sustainable development.

Business Incubators
Infograph of Business Incubators tasks - Egypt Today/Canva



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