Innovation and creativity are considered to be cornerstones of the economic growth. They are the determinants of progress in an economic environment characterized by high levels of competitiveness. Studies have proven that a huge number of economies that have achieved a high level of growth in the past few years have relied mainly on entrepreneurship and innovative projects in order to achieve this kind of growth.
The United Nations in (2015) has emphasized and reassured that enhancing innovative ventures is one of the most important catalysts for achieving the seventeen sustainable Development Goals (SDGs). This comes in conjunction with the plight of many countries, especially developing ones, to deal with the escalation of the economic and social problems in an innovative way.
Although these innovative ventures are crucial in countering competitiveness and achieving the Sustainable Development Goals, many of them suffer from a lack of knowledge with necessary tools needed to plan and prepare for starting up their business. This lack of knowledge represents an obstacle to the success of these ventures. Hence, business incubators are the haven for these nascent ventures, which will allow them to grow stronger.
Faculty of Economics and Political Science Business Incubator, FEPS BI, is a hub for innovative startups. As it provides them with outstanding entrepreneurial knowledge based on its unique scientific methodology. In addition to this, the exposure to a diversified network of mentors and advisors with eminent professional, practical, and academic experience. This accumulated knowledge enables FEPS BI to provide a distinguished entrepreneurial experience for all youth in Egypt.
To be a center of excellence and a hub for entrepreneurial best practices in the Egyptian governmental universities and in the Middle East and North Africa.
As a center of excellence and an entrepreneurship hub, FEPS BI aims to empower a generation of startups, that can dynamically support the Egyptian economic growth and work as a catalyst to achieve the Sustainable Development Goals which intertwine with the Egyptian Development Strategy 2030. To get that attained FEPS BI offers three main services: Awareness Program, Incubation Program, and Business Clinic.
FEPS BI through its diversified services aims to the promotion and enhancement of the Sustainable Development Goals adopted by the United Nations in 2015 and which are incorporated in the Egyptian Development Strategy 2030.The adopted goals include and not limited to; Decent Work and Economic Growth, Education, Good Health and Well-being, Gender Equality and Women Empowerment, Sustainable Cities, and Renewable Energy. Through the fulfilling of following goals:
- Empowering youth with innovative startups ideas that aim to achieving the Sustainable Development Goals.
- Contribute to the reduction of unemployment rates, and raise the rate of employment among youth.
- Raise Egyptian youth awareness about entrepreneurship.
- Create an Entrepreneurial mindset for Egyptian youth.
- Commercialization of the academic researches that help in enhancing the sustainable development goals.