Egypt’s President Abdel Fattah al-Sisi issued Law No. 1 of 2019 establishing a fund called the Fund for the Care of Innovators and Geniuses, affiliated to the Ministry of Scientific Research and headquartered in Cairo governorate. The fund operators have the right to establish other branches throughout the country through a decision of its Board of Directors.
The House of Representatives had approved the law, which was published in the Official Gazette on Thursday.
The fund aims to support, finance and sponsor researchers and innovators; to support and finance science, technology and innovation projects; and to create new financing mechanisms by encouraging individuals and the private sector to finance these projects.
In another context, Sisi issued Law No. 3 of 2019 on the amendment of some provisions of Law No. 83 of 1976 establishing the Syndicate of Fine Artists. The decree was published in the Official Gazette on Thursday.
Edited translation from Al-Masry Al-Youm