In 2016, the national Small & Medium Enterprises (SMEs) Financing Initiative by the Central Bank of Egypt (CBE) was launched with the objective of empowering local business to either establish or scale up an already existing business. CBE announced reduced interest rate of 5% loans to SMEs & mandated that all Egyptian based banks dedicate 20% of its loan portfolio to SMEs.
At Nile University, the ecosystem support strategy was forged to bridge the gap between technology, & research with the market of B2C, B2B & Global Competitiveness of local products. The approach at Nile University Centers is less about “Research on a Shelf” and more about turning research into innovative products that make people’s & businesses’ lives more prosperous, efficient & productive. The Innovation Entrepreneurship Competitiveness Centre (IECC) in specific has been the place where the CBE’s initiative of empowering local businesses found a resonating echo.
