Re:Egypt's Startup Scene
by kerningcultures on Monday October 12, 2015 @01:11AM
(#10372684)
You're absolutely right, we didn't address corruption in this piece. Will make a note for future conversations, thanks for bringing it up! As for fundraising, it's really tough -- and as expressed by some of these entrepreneurs, they've had to look abroad for funding. Some new initiatives, like the Cairo Angels, have emerged and seeded the landscape with funds -- but they're a limited number, relative to the number of startups. We'll address a bit of this investor dynamic / aversion to risk in an upcoming episode on startups in Dubai; would love your thoughts on that, too!
Finding funding, specially early stage seed fund, is very difficult in the first-world, not to mention it is almost impossible in a third-world country like Egypt (where I was born and lived most of my life), how is that being resolved?
Finally, I really wish to see the startup scene improving in my home country, this will develop a new generation of entrepreneurs that are willing to take the rotten bureaucracy for a ride and push to improve the governing policies.