High unemployment and limited opportunities for economic mobility are the biggest challenges for the Egyptian youth, which is among the largest globally with nearly 2/3 of the country’s population under the age of 30. In recent years, there has been a growing focus on promoting startup initiatives in Egypt as a way to drive economic growth and create more opportunities for young people. However, these initiatives face a number of challenges that must be addressed in order to succeed.

One of the biggest challenges facing startup initiatives in Egypt is access to funding. According to the 2020 Global Startup Ecosystem Report, access to funding was cited as the top challenge facing startups in the country. Many investors are hesitant to invest in early-stage startups due to the high risk involved. This lack of funding can make it difficult for startups to get off the ground and scale their operations.

Another major challenge is the bureaucratic process of starting a business in Egypt. Entrepreneurs must navigate complex regulations and paperwork, which can be time-consuming and frustrating. This bureaucracy can also create a barrier to entry for those who are not familiar with the process, making it difficult for new startups to emerge.

A lack of education and skills among young people is another challenge facing startup initiatives in Egypt. Many young people lack the skills and knowledge needed to start and run successful businesses. This is partly due to the quality of education in the country, which is often criticized for being outdated and insufficient to meet the needs of a modern economy.

Finally, poor infrastructure, including limited access to high-speed internet and a lack of reliable transportation, can make it challenging for startups to operate effectively. This can be particularly difficult for startups that rely on technology or need to move goods and services around the country.

Despite these challenges, there are many young entrepreneurs in Egypt who are determined to build successful businesses and contribute to the country’s economic growth. For example, Fawry, a payment processing company, was founded in Egypt in 2009 and has since grown to become one of the largest financial technology companies in the country. Similarly, Swvl, a transportation app, has disrupted the traditional public transportation system in Cairo and has expanded to other countries in the region.

In conclusion, young people in Egypt face a range of challenges, including high unemployment rates and limited economic mobility. Startup initiatives have the potential to address these challenges and create more opportunities for young people. However, they face significant obstacles, including a lack of funding, bureaucracy, education and skills, and poor infrastructure. To overcome these challenges, it is essential to invest in education and training programs for young people, streamline the process of starting a business, and provide better access to funding and resources. By supporting and empowering young people, Egypt can unleash the potential of its large youth population and drive innovation and economic growth in the country.