Hundreds of Egyptian entrepreneurs participated in a competition this weekend aimed at educating and motivating newcomers to the business sector. The Startup Weekend event, co-sponsored by the U.S. government and the British University of Egypt (BUE), seeks to empower Egypt's innovative and educated young adults interested in strengthening the country's economy.
"The American people know first-hand that encouraging innovative entrepreneurs is one of the most effective ways to create jobs and increase incomes," said Dr. William Patterson from the U.S. Agency for International Development (USAID). "USAID is proud to support Egypt's entrepreneurs and believes these innovators have the talent and ingenuity to help build the foundation of a thriving, stable economy in Egypt."
During the event, participants formed teams to develop and pitch ideas for new businesses. These teams worked together on refining business models, developing prototypes, and presenting their ideas to potential investors. Some of these teams are expected to launch new ventures that will contribute to job creation and economic growth in Egypt.
The first prize went to Es3fme for an emergency health service app that notifies relatives, locates nearby hospitals, and provides first aid instructions. This team received five seats in the Oasis 500 acceleration program. Other teams focusing on education, reading, and medical help apps were awarded opportunities such as joining the TIEC acceleration program or receiving in-kind vouchers from Aramex worth up to 35,000 LE.
The event is part of USAID’s initiative to strengthen entrepreneurship and enterprise development in Egypt by supporting micro, small, and medium enterprises (MSMEs). By enhancing firms' abilities to innovate and grow, this project aims to enable hundreds of MSMEs and entrepreneurs to increase sales through streamlined business procedures, improved processes, and connections with fast-growing value chains.
Since 1978, USAID has invested nearly $30 billion in projects across Egypt reflecting shared goals such as reducing infant mortality rates, eliminating polio, modernizing infrastructure like power grids and telecommunications networks while supporting entrepreneurs with marketable skills for a modern economy.