MEMPHIS REISEN

Egyptian innovation expert to help craft startup law in Zambia – Dailynewsegypt

Mohamed Hegazy, a prominent consultant specializing in digital transformation, innovation, and intellectual property legislation, has been selected as an international legal expert for a project funded by the European Union (EU). 

He will be collaborating with the Zambian Ministry of Science and Technology to draft a new startup law for the country.

Previously serving as the head of the Legislation and Laws Committee and the Intellectual Property Office at Egypt’s Ministry of Communications, Hegazy brings extensive experience to this crucial role.

He will be responsible for analyzing Zambia’s public policy, legal, and regulatory frameworks for startups, consulting with decision-makers, entrepreneurs, investors, and private companies within the local digital ecosystem.

This project aims to create a comprehensive legal framework that fosters and encourages startups, ultimately enhancing Zambia’s investment environment and attracting new ventures. “I am honoured to be part of this ambitious initiative that aligns with the evolving regional landscape in terms of development and attracting investments in entrepreneurship,” Hegazy stated.

The draft law will encompass policies that facilitate access to capital, reduce financial risks, and expand financing opportunities for Zambian startups. Additionally, it aims to empower startups to create jobs, reduce unemployment, and stimulate economic growth.

Financing remains a significant challenge for African startups, with entrepreneurs struggling to secure the necessary funds. Banks and financial institutions often lack experience in financing startups due to their reliance on intangible assets. Moreover, weak infrastructure, including unreliable electricity, telecommunications, logistics, and transportation, further hinders progress. Additionally, a lack of awareness and knowledge about entrepreneurship and successful startup development poses another obstacle.

Hegazy’s involvement in this project builds upon his impressive track record. He previously played a key role in drafting the e-commerce and consumer protection law in Libya with ESCWA and the digital evidence law in Iraq with the United Nations Office on Drugs and Crime (UNODC). He is currently collaborating with a global consulting firm, offering expertise to the Saudi Authority for Intellectual Property.