Up to 40 deals have been struck during this period, the minister added during a meeting held via videoconferencing with the American Chamber of Commerce in Egypt.
The company noted that the initiative will help founders tackle their most pressing on-ground operational issues and challenges while unlocking business opportunities that will allow them to build a more sustainable future.
The public business sector minister said that the agreement comes in light of the leading digitization experiment adopted by his ministry as well as its experience in dealing with the international companies in this regard.
According to the report, Egypt recorded the largest number of deals, accounting for 37 percent of the total deals in the region, Saudi 24 reported.
In a report entitled, “How Egyptian funds are supporting start-ups amid the Covid-19 pandemic”, the group stated that Egypt’s digital start-ups were in a good position to respond to the pandemic.
88 Egyptian tech startups secured investment over the course of the year, more than any other African country, and accounting for 28.3 per cent of the overall total.
Early Stage Entrepreneurial activity rates higher in Egypt compared to the rest of the world, with Egypt reaching 14.3 percent compared with a global average of 12.3 percent.
IFC noted that the start-ups include Vezeeta, Avidbeam and Next Protein.
London Tech Week is a free celebration of technology in Europe, bringing together 55,000 tech professionals, from early-stage start-ups to the biggest names in tech.
It helped people in Upper Egypt, especially females in the programming and telecommunication fields, by granting them jobs.
The first topic addressed by the panel was the biggest barriers to creating a start-up in Egypt.