{"id":595723,"date":"2019-08-05T04:00:36","date_gmt":"2019-08-05T04:00:36","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/05\/egypt-has-the-fastest-growing-entrepreneurship-ecosystem-in-mena\/"},"modified":"2019-08-05T04:00:36","modified_gmt":"2019-08-05T04:00:36","slug":"egypt-has-the-fastest-growing-entrepreneurship-ecosystem-in-mena","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2019\/08\/05\/egypt-has-the-fastest-growing-entrepreneurship-ecosystem-in-mena\/","title":{"rendered":"Egypt has the fastest-growing entrepreneurship ecosystem in MENA"},"content":{"rendered":"

<\/a> Egypt has the fastest-growing entrepreneurship ecosystem in the MENA region<\/b>, according to a Magnitt report<\/a> seen by Wamda<\/a>. More access to finance and interest from global investors have been spurred by our recovering economy and decreasing inflation rate, as well as government initiatives supporting SMEs and startups. The number of venture capital (VC) firms, accelerators, and incubators keeps increasing, as do the number and quality of projects seeking their funding and support.<\/p>\n

Opportunity and necessity are driving the boom:<\/b> Greater awareness of entrepreneurship, through media coverage and dedicated education programs at public universities, has also contributed to a collective mindset shift. Around 76% of Egyptians surveyed in the 2017-18 Global Entrepreneurship Monitor (GEM) report (pdf)<\/a> see entrepreneurship as a desirable career choice (compared to a global average of 61.6%), while 55.5% (double the global average)want to start their own businesses. Necessity-driven entrepreneurship is growing even more quickly than opportunity-driven entrepreneurship, as high rates of unemployment and a \u201clack of interesting jobs\u201d are pushing more young people to start their own initiatives. A mentor at Fekretak Sherketak<\/a> cites mass transportation app Swvl<\/a>as an example of a homegrown Egyptian startup successfully addressing problems of overcrowding, congestion and poor infrastructure, adapting the model used by Uber and Careem to meet our particular market needs.<\/p>\n

Though the environment is flourishing, it\u2019s far from flawless.<\/b> Egypt has the highest rate of business discontinuation among the 49 countries studied in the GEM report, standing at 10.2% in 2017 compared to 2.7% in 2010. For this to improve, investors need to better understand the unique nature of investing in startups, and that they often won\u2019t see a rapid return on their investment, as it takes a long time for startups to become profitable, the report notes. There needs to be more access to capital and a friendlier regulatory environment so that entrepreneurs receive the support they need to learn from their experiences, build stronger businesses and drive the virtuous cycle of sector growth.<\/p>\n","protected":false},"excerpt":{"rendered":"

Egypt has the fastest-growing entrepreneurship ecosystem in the MENA region, according to a Magnitt report seen by Wamda. More access to finance and interest from global investors have been spurred by our recovering economy and decreasing inflation rate, as well as government initiatives supporting SMEs and startups. The number of venture capital (VC) firms, accelerators, […]<\/p>\n","protected":false},"author":1,"featured_media":595724,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,203,2380,123],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-595723","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-speed-round","tag-enterpriseam","tag-entrepreneurship","tag-speed-round","tag-startups","wpautop","entry"],"acf":{"mongo_id":"4bd78cc3-6ef5-4508-b2a0-ca0d2abdc58c","is_powered_by":true,"section_story_id":"2e19aed2-edea-4a4e-bb39-b603d1e78881","story_type":"1","photo_url":"https:\/\/ent.news\/2019\/8\/758.jpg","photo_position":"above","related_issue":[595715],"teaser":"","voice_url":""},"yoast_head":"\nEgypt has the fastest-growing entrepreneurship ecosystem in MENA - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2019\/08\/05\/egypt-has-the-fastest-growing-entrepreneurship-ecosystem-in-mena\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Egypt has the fastest-growing entrepreneurship ecosystem in MENA\" \/>\n<meta property=\"og:description\" content=\"Egypt has the fastest-growing entrepreneurship ecosystem in the MENA region, according to a Magnitt report seen by Wamda. 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Egypt accounted for 27% of disclosed transactions by volume and 25% by value. The\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2019\/12\/1210.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":567102,"url":"https:\/\/enterpriseam.com\/egypt\/2020\/01\/13\/mena-startups-break-records-in-2019-egypt-top-country-by-number-of-agreements\/","url_meta":{"origin":595723,"position":2},"title":"MENA startups break records in 2019, Egypt top country by number of agreements","author":"enterpriseam admin","date":"13 January 2020","format":false,"excerpt":"Egypt was the most active venture capital market in MENA last year with 25% of all transactions in the region, according to startup platform Magnitt\u2019s 2019 MENA Venture Investment Report. Egypt\u2019s share of total number of seed funding agreements fell 1% y-o-y, but the UAE, which topped the ranking in\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2020\/1\/583.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":600094,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/01\/20\/6-tech-startups-to-join-egypt-cit-ministrys-tiec-incubator\/","url_meta":{"origin":595723,"position":3},"title":"6 tech startups to join Egypt CIT Ministry\u2019s TIEC Incubator","author":"enterpriseam admin","date":"20 January 2019","format":false,"excerpt":"STARTUP WATCH- Six tech startups to join CIT Ministry\u2019s TIEC Incubator: The CIT Ministry\u2019s Technology Innovation & Entrepreneurship Center (TIEC) selected six tech startups that won the 21st round of its startup competition Start IT to join it incubator, TIEC said in a statement. Those tapped include garment industry-focused IoT\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":598299,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/05\/21\/seven-egyptian-startups-make-2019-global-entrepreneurship-summit\/","url_meta":{"origin":595723,"position":4},"title":"Seven Egyptian startups make 2019 Global Entrepreneurship Summit","author":"enterpriseam admin","date":"21 May 2019","format":false,"excerpt":"Seven Egyptian startups have been selected to participate in the 2019 Global Entrepreneurship Summit (GES)due to take place 3-5 June in the Netherlands, the US Embassy said yesterday (pdf). The startups, which include household names Swvl and Elves along with health providers SmartCare, Al-Mouneer, and Chitosan, and agriculture businesses Breadfast\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":592839,"url":"https:\/\/enterpriseam.com\/egypt\/2019\/11\/07\/tripdizer-raises-usd-300k-in-seed-round-led-by-500-startups\/","url_meta":{"origin":595723,"position":5},"title":"Tripdizer raises USD 300k in seed round led by 500 Startups","author":"enterpriseam admin","date":"7 November 2019","format":false,"excerpt":"STARTUP WATCH- Tripdizer has raised USD 300k in a seed round led by accelerator 500 Startups, reports Menabytes. The round also saw participation from Innoventures and angel investor Jamal El Dabal. It\u2019s not clear if the amount includes the USD 150k the company recently received when it completed 500 Startups\u2026","rel":"","context":"In "Speed Round"","block_context":{"text":"Speed Round","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595723","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=595723"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/595723\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/595715"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media\/595724"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=595723"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=595723"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=595723"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=595723"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=595723"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}