U.S. Ambassador Stephen Beecroft marked the beginning of Global Entrepreneurship Week (GEW) by celebrating the accomplishments of Egyptian entrepreneurs at an event held at the American Corner in Maadi Public Library, Cairo. He emphasized the significance of entrepreneurship, stating, “New businesses are one of the strongest engines of job creation and economic growth — that is why entrepreneurship is so important."
The ambassador's remarks were part of a series of U.S. Embassy-sponsored events focused on entrepreneurship taking place throughout the week. The American Corner at Maadi Public Library hosted the "Egypt Innovate Exhibit," where young entrepreneurs presented their innovative products and services. This exhibition provided a platform for connecting these entrepreneurs with financial sponsors and NGOs that support entrepreneurial ventures.
Global Entrepreneurship Week is recognized as the largest celebration of entrepreneurship globally, with activities occurring in 160 countries. Its aim is to motivate individuals worldwide to realize their ideas and support them in pursuing their entrepreneurial goals. For GEW 2015, the U.S. Mission organized over thirty events across Egypt to assist young people in becoming successful entrepreneurs.
Additionally, on October 29, a new initiative was announced by the U.S. Embassy and USAID—a $22.9 million investment known as the SEED program, or "Strengthening Entrepreneurship and Enterprise Development." This program aims to assist small businesses in Egypt by facilitating access to bank loans, developing business ideas, and conducting market research.