Arab Finance: CREATIVA Innovation Hubs is set to open 17 new centers in 2023, Egyptian Minister of Communications and Information Technology Amr Talaat revealed on April 10^th.

The minister highlighted that eight CREATIVA centers have already been inaugurated, with the target of opening 30 centers across the country.

The remaining centers will be inaugurated in 2024, Talaat added.

Talaat’s announcement came during the event of “Startup Day”, where he met with startup founders and entrepreneurs.

The minister added that the global startup economy is worth nearly $3 trillion; as it is considered one of the main pillars in all economies.

Moreover, he indicated that investments in startups in the Middle East, North Africa, Turkey and Pakistan dropped during the first quarter (Q1) of 2023 by 70% year-on-year (YoY).

In 2022, Egypt achieved a growth rate ranging between 3% and 4% in investments in startups operating within the telecommunications and information technology sector.

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