The startup scene in Egypt is filled with energy, passion and potential. The local scene started with some individuals who had a vision and saw an opportunity in investing in early-stage Egyptian entrepreneurs and startups.
Berlin meets Cairo
The key ecosystem stakeholders started working together and the first RiseUp Summit came to life, as the first and largest crowdsourced entrepreneurship event in Egypt. Finally, the momentum was there! International key-players – such as enpact – and investors started looking at Egypt as an entrepreneurship hub in the region, with enormous potential. The robust and collaborative ecosystem acts as an accelerator for startups, and increases their chance for survival and growth. When people with the same interests and vision but different applications come together, they form partnerships, make investments, create business opportunities, exchange experiences, and thus, the entrepreneurial culture will flourish.
This is exactly what RiseUp is trying to do: grasping that momentum to glue the ecosystem together and create a just and productive society, while being inclusive, neutral and transparent. (Source: Wamda Research Lab, Enhancing Access, October 2014).