Chairperson of the Egyptian Association for Direct Investment Abdallah El Ebiary said that investment in venture capital is the new growth locomotive for the country, where these investments can help successful companies and products with a better future and good growth potential through the restructuring of emerging companies with high risk. The Egyptian Association for Direct Investment launched a forum for investors in startups and venture capital funds. CEO of KI Angel Venture Capital Fund Khaled Ismail said that there must be a clear separation between small and medium enterprises (SMEs) and startups. He stressed that he is optimistic about the sector despite the challenges, adding that this positive image must be conveyed to investment institutions abroad. Ahmed El Sherif, chairperson of the board of directors of Abdullatif El Sherif Group and a member of the Egyptian Association for Direct Investment, highlighted three main challenges: the legal and regulatory framework of the sector, sources for financing venture capital funds, and the availability of experienced startups owners.

Source: Daily News Egypt May 13, 2017 15:45 UTC