Entrepreneurs from across the Middle East and North Africa are attending a forum in Egypt’s capital, Cairo to pitch business ideas to potential investors.The summit hopes to shed light on the importance of entrepreneurship and the role it can play in creating a parallel economy in Egypt.
The Rise Up summit-founded in 2013 acts as a bridge between entrepreneurs and those with the capital and know-how to help turn an idea into a successful business model. Rise Up offers discussion panels, workshops and competitions for all participants
“Rise up is the first summit that invites entrepreneurs and owners of small businesses that are innovative and technologically driven to get in touch with investors, supporters, charity organizations, governmental entities, or anyone who can present them with services that will help start or grow their businesses. This happens in the form of a conference which is held once a year, it started in 2013 and this is its third year, where more than 4000 people attend from over fifty countries.” Abdelhamid Sharara, CEO & Founder Of Rise Up
There are Limited employment opportunities in the Egypt and as a result entrepreneurship is booming in the country. Many jobless youth are seeking to start their own businesses.
“From many ways, it helps me gain the skills and talent I need to grow my company outside of the local framework, and into a more regional or global framework. Secondly, there is a huge number of investors and people interested in hearing new ideas or starting their own business. There are also other companies in similar fields to our own that we can build cooperation with. There are many people doing workshops and ideas on how to pitch to investors, how to raise the value of my company, and of course the most important thing is the investors who can invest in my business and help it grow, opening up several other doors.” Yaseen Abdel-Ghaffar, Founder, Solarize Egypt
The Egyptian economy is currently struggling with a string of economic hardships including high inflation and low foreign currency reserves. Economists hope sprouting of small business will somehow bolster the overall economy going forward
