The Minister of Investment and International Cooperation Dr. Sahar Nasr and the Minister of Higher Education and Scientific Research Dr. Khaled Abdul Ghaffar signed a cooperation protocol to activate “Fekretak Sherketak” Initiative among university students.
The protocol provided for the development of a start-up support program in various sectors, including information technology, and the creation of social and environmental impact that serves the sustainable development goals in a manner that would achieve an investment return through partnership with international financial institutions. This is in addition to MIIC’s communication with entrepreneurs and governmental bodies that provide consultancy, various resources and services to start-ups and providing training courses, forums and workshops in various areas, provided that the Ministry of Higher Education would work on promoting the initiative among university students so as to encourage them to participate and benefit from it in developing their skills.
Both sides agreed on forming a coordination committee including representatives of each party and to be responsible for supervising joint activities, developing work plans and providing necessary proposals to implement the goals of the protocol.
The Minister mentioned that the initiative aimed to support youth, noting that they would not succeed in entrepreneurship without integration and coordination between MIIC and the Ministry of Higher Education.
Moreover, the Minister pointed out that the initiative was a partnership between the government, the private sector and the civil society, indicating that MIIC’s role was to provide startups with an adequate investment climate, provide youth with job opportunities and foster an adequate climate for implementing their ideas through supporting them technically and financially.
Dr. Nasr also emphasized that since the announcement of the initiative, there are several institutions keen on supporting it through grants, noting that the initiative would support university students technically. She added that the protocol came within the framework of achieving cooperation and integration among all state institutions so as to support the national economic plan and provide a mechanism for promoting national economic support initiatives.
On his part, Dr. Abdul Ghaffar explained that that state focused in entrepreneurship, hence came the initiative to contribute to qualifying students for the labor market, noting that cooperation between both ministries would contribute to create new job opportunities and open the door for investing in entrepreneurship and SMEs.
In addition, he mentioned that several European countries achieved success through entrepreneurship, thanking the Minister for the initiative and for supporting university students.
The Minister, accordingly, reiterated the significance of encouraging entrepreneurship, noting that importance of including the concept of entrepreneurship in university curricula so that students can be familiarized with necessary information on feasibility studies and the labor market needs. She also expressed her confidence in the entrance of several companies to the labor market through the initiative, which would contribute to achieving the state’s development plan.