These companies have shown that Egypt has great potential to be innovative leaders in fields where it has identified service gaps that are waiting to be filled by the private sector. They are a centralized way of getting legal related updates from many jurisdictions and a great way to stay informed with a minimal time commitment. High growth start-ups, such as Fawry, an e-payment network has over 65 thousand locations and a multitude of channels that serves over 15 million Egyptians. Found inside â Page 69... in the Middle East and North African as well as for bringing global attention to Egypt's growing technology and entrepreneurship ecosystems. More recently, SWVL, a bus hailing app that has revolutionised public transportation in Egypt, has raised tens of millions of dollars in the last two years. The upshot of what these companies have achieved has impacted the Egyptian economy in many ways including creating jobs across the community and galvanising the economy in general. Found inside â Page 641.2 Entrepreneurship and innovation education in Egypt According to the 2010 Egypt ... in Egypt has been able to promote an entrepreneurship ecosystem. EgyptInnovate. In the last few years the start-up field has skyrocketed. Not only is it difficult for investors to understand the processes required to keep the company in good standing, but the processes themselves are also not easy to execute. This study aims to analyze the characteristics of the Egyptian entrepreneurial ecosystem by using the global entrepreneurship index (GEI) data from 2006-2017. From a structuring perspective, incorporating a company in Egypt is still comparatively harder than in other jurisdictions, although it has become significantly easier in recent years with the establishment of the Investor Service Center and the amendments to the Companies Law. Mahfouz further pointed out how ITIDA plans to invest in Creativa, a digital innovation hub that acts as a one-stop shop for tech entrepreneurs. The prominent factors are the local society's culture, the level of business education, the local market, the industry of operations, the funding opportunities as well as the . Such challenges are partially a product of decades of stagnant development that calcified innovation and progress. As a result many start-ups and funds incorporate their companies abroad and establish companies in Egypt as subsidiaries. Within seven short years, it reached a level of growth that attracted higher level investments from private equity firms and Development Financial Institutions such as the International Finance Corporation, the investment arm of the World Bank. The majority of these new early-stage entrepreneurs, however, do not appear to be starting new firms as a result of the pandemic but, rather, in spite of it. As a result many start-ups and funds incorporate their companies abroad and establish companies in Egypt as subsidiaries. STUDENT_RESEARCH https://fount.aucegypt.edu/etds/1590, Other Public Affairs, Public Policy and Public Administration Commons, Figure 3 The Impact of Entrepreneurship Education on Sales Growth and Personal ----- 15 Figure 4 Daniel Isenberg Entrepreneurship Ecosystem Model (Source Babson College) ----- 21 Figure 5 Egypt Entrepreneurship World Ranking (Source GEDI) ----- 22 Found inside â Page 162Aalto's entrepreneurial ecosystem and its future expectations Building an entrepreneurial ecosystem ... AFRICA e.g. Cairo University, Egypt Aalto Ventures ... Often, Egypt is not sufficiently recognized for its business and entrepreneurship accomplishments despite its numerous agents of change that have built a reputation for themselves as entrepreneurial wizards both at home and internationally. Through USAID, the U.S. government played a key role in transforming the entire entrepreneurship ecosystem in Egypt by establishing some of the country's first business incubators and attracting private and public sector partners to join the initial U.S. investment. Found inside â Page 19Although the school is rooted in Egypt, it never saw itself positioned to only ... invests in developing and growing the entrepreneurial ecosystem in Egypt ... Found inside â Page 444ecosystem entrepreneur education Egypt he future ofinnovation could be seen as an ecosystem.An innovation ecosystem should consist Tof units functioning ... One of the recent additions to startup and tech events in Egypt is the Vested Summit (Disclosure: I was part of the organizing team of their first edition). The brainchild of two Egyptian female entrepreneurs and . Other countries in the region such as the UAE and Saudi Arabia fare significantly better on almost every metric. The project's goal is to empower and enable potential and existing entrepreneurs, particularly youth and women, to establish, manage and operate successful innovation-driven businesses through enhancement and support of entrepreneurship ecosystem in Egypt. In 2016 alone, there were 341 thousand university graduates, with almost 100 thousand graduates from IT, computer science, and engineering programmes. This was unheard of in Egypt, especially given that Fawry was founded in 2008. Th. The entrepreneurial The first and most important challenge facing entrepreneurs and start-ups are regulatory difficulties. Found inside â Page 61[28] [45] Zaki, H. and N. Zeini (2019), âDescriptive Analysis of the Entrepreneurship Ecosystem in Egypt from a Start-up Perspective: Challenges and ... While Vezeeta, a medical platform, serving 2.5 million patients by connecting them to a network of 10,000 doctors, has raised around USD 25 million. However, the last few years have proven that such challenges can be overcome. The Global Entrepreneurship Index contributes to our understanding of economic development by constructing an index (GEINDEX) that examines the essence of the contextual features of entrepreneurship and fills a gap in the measure of ... Accordingly, the Egyptian government can develop and design policies and action plans to promote entrepreneurship based on this analysis and understanding. With its already vibrant entrepreneurship ecosystem, Egypt has become home to a burgeoning fintech landscape, encouraging new government regulation and engaging corporates to contribute to shaping a better Fintech environment in Egypt. 4. Edit. Understand your clients’ strategies and the most pressing issues they are facing. These structures are not only used for tax purposes, but for the ease and clarity in governance mechanisms present in offshore jurisdictions that allow for far more contractual flexibility. Judging by the experiences of business people across regions, administrative reforms and deeper investments in infrastructure and human capital are needed to build a business-friendly ecosystem. The government has been actively building on the progress that has already been made with more regulations in the pipeline that will hopefully create clarity amongst all stakeholders. Other tech start-ups are following suit. Ismail will be among the numerous experts speaking at the summit, concentrating on Egypt's evolving entrepreneurship ecosystem. Found inside â Page 50In a comparison of entrepreneurial ecosystems in four countries (Botwana, Egypt, Ghana, and Uganda), Sheriff and Muffatto (2015) found that the ... This empirical study provides an in-depth insight into the Egyptian entrepreneurship ecosystem situation based on GEI methodology and its sub-indexes . ATX+EGY II: Fashion Track - The second cohort of ATX+EGY will launch virtually in late 2020. Under each category Dr. Shalaby defines the Other countries in the region such as the UAE and Saudi Arabia fare significantly better on almost every metric. One of the most recent popular co-working spaces named Eco-Space was considered one of the best during 2015, since they started to offer real services to the entrepreneurs and to strongly sustain the entrepreneurship ecosystem in Egypt. 9 June,2020 NASA Selects NilePreneurs Among Manufacturers for its VITAL Ventilator in Response to COVID-19 Read More keyboard_arrow_right. However, it is worth noting that the Egyptian government is attempting to resolve some of the challenges that would make doing business easier by regulating and clarifying business activities and processes. Helped by the falling inflation rate and an economy that is on its way to recovery, more people are gaining the . Entrepreneurship and innovation have emerged globally as significant drivers for inclusive economic growth, contributing to both job and wealth creation. With a population of over 100 million people and a youth population comprising over 20 percent of the total population, the consumer base in Egypt is massive, presenting large growth potential for many foreign companies and investors wishing to penetrate the Egyptian market. High growth start-ups, such as Fawry, an e-payment network has over 65 thousand locations and a multitude of channels that serves over 15 million Egyptians. Job Description: 1. From a structuring perspective, incorporating a company in Egypt is still comparatively harder than in other jurisdictions, although it has become significantly easier in recent years with the establishment of the Investor Service Center and the amendments to the Companies Law. Found insideThis two-volume book unveils trends, strengths, weaknesses and overall dynamics and implications of social entrepreneurship in the Middle East region, whilst identifying both opportunities and threats facing social entrepreneurship and ... Egypt Ventures aims to cultivate and foster a startup culture in the Egyptian economy, catalyze the development of the entrepreneurship ecosystem, and build economic competitiveness leading to GDP . The network of entrepreneurs is also supported by organisations such as Endeavor which provides support to scale-ups (high growth and stable start-ups) by fostering a network of like-minded mentors and providing access to capital and investors. The UN estimates that between 2012-2013, around 9,000 start-ups were established. The entrepreneurial nature of the Egyptian economy is also due to the large and educated young population as well as its long entrepreneurial history. The Egyptian government has also tried to fill in some of the gaps in the ecosystem by founding Falak Startups and creating Egypt Ventures, an investment fund that finances both start-ups and other investors. The most urgent and important issues from the perspective of entrepreneurs--Access-to-finance--The-informal . The exchange program consists of a mixed group of entrepreneurs from Egypt. Found inside â Page iiiThis contributed volume explores and reveals the dynamics, strengths and weaknesses, trends and implications of entrepreneurship in the Middle East and North Africa (MENA) region. Unfortunately, entrepreneurs usually seek legal services from firms or individuals that do not necessarily understand the complexities of the business model, which can often exacerbate these issues. #Industry #Technology, #Innovation, #technology, Business, egypt, Egyptian ecosystem, global, Global Innovation Index 2020. Women entrepreneurs are at a disadvantage within the ecosystem due to the high prevalence of gendered stereotypes and prejudices surrounding them, lack of coordination among the players within the ecosystem, scarcity of information on available resources, and lack of understanding of the significance of women entrepreneurship and its benefits to the economic and social conditions of the country at large. Become your target audience’s go-to resource for today’s hottest topics. EgyptInnovate.com is a bilingual online ICT innovation and entrepreneurship hub for Egypt, where innovators and entrepreneurs get inspired, educated and connected. However, the last few years have proven that such challenges can be overcome. "Egypt didn't get this far by luck as the government has been giving unprecedented support to further boost the Startup ecosystem and help its youth kickstart their technology and innovation-driven entrepreneurship and accelerate their growth; capitalizing on many advantages and the right mix of strengths the country enjoys", Mahfouz noted. EgyptInnovate. These companies have shown that Egypt has great potential to be innovative leaders in fields where it has identified service gaps that are waiting to be filled by the private sector. Found inside â Page 229The future of entrepreneurial activities in Sudan depends largely on ... âReforming the Entrepreneurship Ecosystem in PostRevolutionary Egypt and Tunisiaâ. From establishing the first terminology for social entrepreneurship in Arabic to hosting the. More than 73 percent of Egyptians think entrepreneurship is a good career choice. Dealing with governmental authorities is difficult without assistance. The Entrepreneurship Ecosystem in Egypt: Potential and Obstacles Youssef Sallam y.sallam@tamimi.com - Cairo, Egypt The Egyptian entrepreneurship ecosystem, which has been partially fuelled by the economic revival that has occurred over the last few years, is among the fastest growing in the region. Found inside â Page 593Ahmed Elghannam is an Egyptian researcher who was born in 1987. He works as Assistant lecturer of Agricultural Economics at the Faculty of Agriculture, ... ", © Copyright 2006 - 2021 Law Business Research. Please contact [email protected]. Since 2003, Ashoka Arab World has pioneered and been the platform for social entrepreneurship across the Arab region, identifying and electing the region's leading social entrepreneurs across 12 countries. It explains how it impacted women entrepreneurs’ journeys and ventures and allows for recommendations that would create a healthier and more inclusive ecosystem for women entrepreneurs. Found insideIn other words, there is a real opportunity in Egypt to engage corporations in the goal of promoting and expanding the ecosystem for social entrepreneurship ... 3 months 1 week ago. Book an appointment with us, or search the directory to find the right lawyer for you directly through the app. Even after incorporation, maintaining a company is also fairly difficult. If you're someone who would like to get a sense of what Egypt and MENA's startup ecosystem is like, this summit is a no brainer. In 2016 alone, there were 341 thousand university graduates, with almost 100 thousand graduates from IT, computer science, and engineering programmes. Such challenges are partially a product of decades of stagnant development that calcified innovation and progress. , Morocco, Qatar and Turkey, © Copyright 2006 - 2021 Law Research! Quality and depth, and data centres the many challenges that hinder the of... 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