Egypt supports 12 green scaleups with EGP 57.5 million investment
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Nahdet El Mahrousa and the German organization GIZ graduated 12 green businesses from the GreenShift accelerator in Cairo, Egypt.
The program provided a total of EGP 57.5 million to help these companies grow their production capacity and commercialize sustainable solutions. The initiative received funding from the European Union and the German Federal Government. The graduating businesses operate in various sectors, including waste management, recycling, climate technology, and sustainable materials.
These companies include projects that transform plastic waste into building materials, produce essential oils through circular processes, and create mushroom-based packaging alternatives. The program also helped eight of the 12 funded businesses complete necessary licensing and formalization procedures to scale their operations. To select the participants, the GreenShift Program reviewed 1,353 applications. It provided 160 hours of training and consultations to 46 fellows and distributed EGP 1.3 million in productive assets to 18 fellows.
The program aimed to address high upfront costs for machinery, which often hinder small green businesses from improving their production processes.
