INTRO
The Technology Innovation and Entrepreneurship Center (TIEC), UNDP Egypt, and the UNDP Alternative Finance Lab (AltFinLab) are collaborating to foster a crowdfunding capability in Egypt. In February 2019, they kicked off a week of activities with a national roundtable, hosted by the American Chamber of Commerce, on the challenges and opportunities of crowdfunding in Egypt. The roundtable brought together high-level representatives from the banking sector, entrepreneurs, investors and enterprise support organizations. Issues raised included regulatory and policy challenges facing the entrepreneurial ecosystem when planning and executing crowdfunding campaigns, the need to create an enabling environment for innovative models to emerge, and an emphasis on financial literacy/awareness to improve penetrability rates as currently only around 10% of the Egyptian population have a bank account. A one-day Training of Trainers (ToT) was then held, targeting supporting entities working closely with startups and providing them with the know-how to support their startups with accessing alternative finance and specifically to develop crowdfunding campaigns. Immediately following the TOT, the trainers then supported a three-day Crowdfunding Academy, led by the AltFinLab, in which 10 startups participated.
SDGs
End poverty in all its forms everywhere
End hunger, achieve food security and improved nutrition and promote sustainable agriculture
Ensure healthy lives and promote well-being for all at all ages
Ensure inclusive and equitable quality education and promote lifelong learning opportunities for all
Achieve gender equality and empower all women and girls
Ensure availability and sustainable management of water and sanitation for all
Ensure access to affordable, reliable, sustainable and modern energy for all
Promote sustained, inclusive and sustainable economic growth, full and productive employment and decent work for all
Build resilient infrastructure, promote inclusive and sustainable industrialisation and foster innovation
Reduce inequality within and among countries
Make cities and human settlements inclusive, safe, resilient and sustainable
Ensure sustainable consumption and production patterns
Take urgent action to combat climate change and its impact
Conserve and sustainably use the oceans, seas and marine resources for sustainable development
Protect, restore and promote sustainable use of terrestrial ecosystems, sustainably manage forests, combat desertification, and halt and reverse land degradation and halt biodiversity loss
Promote peaceful and inclusive societies for sustainable development, provide access to justice for all and build effective, accountable and inclusive institutions at all levels
Strenghten the means of implementation and revitalise the global partnership for sustainable development
Methodolgies
Crowdfunding
Countries
Egypt
Funded
No
Start Date
02/03/2019
End Date
05/07/2019