Ebda2 with Google empowers Egyptian entrepreneurs
Google announced today a new competition called إبدأ with Google in partnership with Science Age Society and Innoventures. إبدأ with Google will seek to find the country’s most talented Egyptian entrepreneurs and award them with 1.2 million EGP in seed capital to bring their winning business ideas to market. The concept of إبدأ with Google is to inspire entrepreneurs to start their own businesses and become contributors to the society at large using technology as a catalyst for growth and economic prosperity.
During the eight-month project, Egyptian entrepreneurs will go through a process of screening and selection based on a specific set of criteria laid out by an independent judging panel of experts from various fields of businesses. The entrepreneurs will also receive mentoring and coaching from industry professionals, executives and established entrepreneurs who will provide them with know-how and hands on training to help them succeed.
“Google is passionate about growing internet ecosystem in Egypt. The aim of إبدأ with Google to to inspire Egyptians to start their own technology ventures and have a series of working models online which directly benefit the Egyptian economy” said Wael Fakharany, Country Manager for Google North Africa.
The program is being executed by Science Age Society (SAS), a local NGO, and Innoventures, a local tech incubator. SAS and Innoventures will embark on a ten-city roadshow throughout the country to spread awareness and most importantly, to receive applications.
“إبدأ with Google” couldn’t have come at a better time, the impact will be felt nationwide and will provide hope to many Egyptians seeking to fulfill their dreams,” said Mohamed Aboud, Business Development Consultant at Science Age Society.
Entrepreneurs can submit tech business ideas in several areas including cloud computing, digital advertising, E-commerce as well as mobile applications, location based applications, SMEs enablement and Arabic content.
The top 200 applicants, who will be announced in November, will participate in a three day workshop on entrpreneurship and innovation by Googlers who will fly in from around the world to provide coaching and training.
Over time, the entrepreneurs will participate in competition rounds and will have to present actual prototypes and business concepts to a panel of expert judges.
Around 100 of these entrepreneurs will be mentored and exposed to Angel Investors. At a later stage, the top 20 finalists will compete to win the nation’s top prize which will be awarded in May 2012 and the winner will receive LE1.2 million as seed capital to start their business.
Google initiated this competition to spark the effective minority of Egypt’s economy of small and medium size entreprise businesses. The company committed to contribute to Egypt’s internet ecosystem as part of a framework agreement signed with the Egyptian government back in 2009.
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