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MCSBE and Egypreneur sign MoU

MCSBE’s General Assembly Meeting announced the launch of Egypreneur’s website & the former’s acquired franchise of the Int’l Entrepreneurship License

Egypreneur and the Middle East Council for Small Businesses and Entrepreneurship (MCSBE) signed a generic Memorandum of Understanding yesterday, aiming at bringing the community of Egyptian entrepreneurs closer to the intellectual background that MCSBE has to offer.

The cooperation was signed during the General Assembly Meeting of MCSBE, and Egypreneur – a non-profit social business network for Egyptian entrepreneurs – used the occasion to announce the launch of its crew portal website www.egypreneur.com.eg.

AbdulRahman Magdy, CEO and Founder of Egypreneur, told Egypt Business Directory: “The exact conditions of agreement have not been reached yet, but we are planning on uniting our community of young Egyptian entrepreneurs with the intellectual background of MCSBE, in order to brand young business-people in Egypt.”

The Memorandum is planned too kick off during the Global Entrepreneurship Week in November 2011.

Other than that, the General Assembly Meeting discussed its acquisition of the franchise of the International License of Entrepreneurship (ILFEN).

ILFEN is a global standardized exam developed to raise the level of knowledge about Entrepreneurship. A professional certificate is awarded to candidates who have gained the intellectual capability to begin a small entrepreneurial project.

MCSBE is working on establishing the training program in Egypt, as part of the program’s expansion in the Middle East and North Africa.

Being initiated in the Kingdom of Saudi Arabia, the program’s local implementation was met with doubt, especially by Kholoud AlKhaldi, Senior Enterprise Specialist at the International Labor Organization. AlKhaldi explained during the meeting: “No one can license an entrepreneur. I highly doubt that Saudi Arabia can lead such a program.”

Yet, MCSBE justified the occurrence by stating that Saudi Arabia has the benefit of available investment-funds when it comes to entrepreneurship.

Details about the program’s fees and regulations are to be announced in the near future.

The General Assembly Meeting also announced MCSBE’s seven new board-members, including Mohamed Abdel Moneim ElSawy and Dr. Ashraf Mohamed Sheta, General Manager of ShetaTex.