GreenShift graduates 12 Egyptian green scaleups with EGP 57.5M

Egypt's Nahdet El Mahrousa and Germany's GIZ have graduated 12 green businesses from the GreenShift accelerator, which provided a combined EGP 57.5 million in investment to expand their growth and production capacity. The graduation took place at the GreenShift Summit in Cairo on October 27, 2026.

The programme is implemented by Nahdet El Mahrousa with GIZ and co-funded by the European Union and the German Federal Government. The graduating companies, based in Greater Cairo and the Delta, work in climatetech, the circular economy, recycling, sustainable materials and waste management. They are TileGreen Tech, Tilestic, Green Cycle, EGYMAG Biotechnology, Extractor Co., Mycelium, Up-Fuse, ZEE, Yadawee, Mrkoon, PLANQ Electronics and VeryNile.

Programme results

GreenShift received 1,353 applications and trained 46 fellows through about 160 hours of training, consultations and a retreat. It also provided EGP 1.3 million in productive assets to 18 fellows and helped eight of the 12 funded businesses complete licensing and formalisation.

Equipment costs were a central theme. Mostafa Ashraf, private sector advisor at GIZ, said the high upfront cost of machinery is one of the biggest obstacles for these companies, and that the programme addresses it by financing equipment. Islam Salah, founder of PLANQ Electronics, said the guidance mattered as much as the funding, while Extractor Co. founder Tarek Makram said the support helped speed up setting up his factory.

The summit

Under the theme "Rethinking Tomorrow: From Green Businesses to Changing Industries", the one-day event drew more than 150 leaders, policymakers, investors, development partners and entrepreneurs. Participants included the Ministry of Local Development and Environment, UNIDO, the EBRD, Sawiris Foundation for Social Development, Flat6Labs and AUC Venture Lab. Panels covered investment readiness, scaling, sustainable construction materials and bio-based alternatives in agriculture.

Mona Shehab, Director of the National Solid Waste Management Programme, said startups help build a stronger national economy by generating innovative ideas and new opportunities.