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StartUp Manifesto

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StartUp Manifesto

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You are on page 1/ 59

1ST EDITION 2018

Your Action
Plan For
Entrepreneurship
In Egypt

1ST EDITION

About
RISEUP AND MANIFESTO
Established in 2013, RiseUp aims at efficiently connecting
startups anywhere to relevant resources at the time they need
them in a scalable manner in order to increase their chances of
success.

As part of its mission, RiseUp developed the Startup Manifesto

as a catalyst for change. The Manifesto, by outlining current
challenges and proposing concrete solutions, aims at improving
the current entrepreneurship ecosystem in Egypt.
It targets to increase ecosystem readiness for fostering
entrepreneurship, thereby gearing the ecosystem towards its
full potential.

The Manifesto is developed by the ecosystem for the

ecosystem. Through interviews with various stakeholder groups
and several review sessions, we constructed a Manifesto that
portrays the ecosystem’s real challenges.

The Manifesto does not stop at offering solutions. Instead, it

needs to be understood as the foundational document
based on which a collective action reform movement towards
ecosystem improvement is initiated.

overview of
CONTENT
Introduction ///////////////////////////////////////////////////////////////////////////////////////// 06 2.3. Striving Towards Entrepreneurial Excellence ........................................................... 64
1. Enhancing Ecosystem Performance ///////////////////////////////////////////////////////// 28 2.3.1. Entrepreneur Mindsets .................................................................................................. 64
1.1. Ecosystem Vision & Coordination .............................................................................. 30 2.3.2. Entrepreneur Skill-Set .................................................................................................... 66
1.2. Ecosystem Conduct .................................................................................................... 30 2.4. Strengthening the Role of Entrepreneurship in Long-Term Economic Planning ... 66
1.3. Ecosystem Information & Data .................................................................................... 31 2.4.1. Public Sector Role & Coordination ................................................................................ 67
2.4.2. Public-Private Sector Dialogue ..................................................................................... 67
2. Achieving Sustainable Growth /////////////////////////////////////////////////////////////// 34
2.1. Increasing Resources, Availability, Accessibility & Quality ...................................... 36 3. Empowering Lives /////////////////////////////////////////////////////////////////////////////// 70
2.1.1. Finance ............................................................................................................................... 36 3.1. Championing Entrepreneurship To Improve Human Experience ............................. 72
2.1.1.1. Banking .................................................................................................................................. 37 3.1.1. Role of the Startup Community ............................................................................................ 72
2.1.1.2. Angel Investment ................................................................................................................ 40 3.1.2. Role of Proper Incentives ..................................................................................................... 72
2.1.1.3. Venture Capital ................................................................................................................... 40 3.2. Fostering Entrepreneurship in Impact Sectors ......................................................... 73
2.1.1.4. Stock Market ........................................................................................................................ 41 3.2.1. Purpose-Driven Startups ...................................................................................................... 73
2.1.1.5. Crowdfunding ..................................................................................................................... 44 3.2.2. Impact Investing .................................................................................................................... 73
2.1.1.6. Payments & Fintech Infrastructure ................................................................................. 44 3.3. Facilitating Job Creation Through Entrepreneurship ............................................... 74
2.1.2. Human Capital ................................................................................................................. 45 3.3.1. Within Startups ....................................................................................................................... 75
2.1.2.1. Entrepreneurs ...................................................................................................................... 45 3.3.2. Across the Supply Chain ..................................................................................................... 75
2.1.2.2. Startup Talent ...................................................................................................................... 47
2.1.2.3. Overarching Issues ............................................................................................................ 48 4. Positioning Egypt as an Entrepreneurship Hub /////////////////////////////////////////// 76
2.1.3. Public Infrastructure ....................................................................................................... 54 4.1. Promoting Entrepreneurship in Society ..................................................................... 78
2.1.3.1. Access to High Quality Internet ........................................................................................ 54 4.1.1. Societal Acceptance of Entrepreneurship ......................................................................... 78
2.1.3.2. Workspace Infrastructure ................................................................................................ 54 4.1.2. Women Entrepreneurship .................................................................................................... 78
2.1.3.3. Geographical Disparities ................................................................................................. 55 4.1.3. Youth Entrepreneurship ........................................................................................................ 79
2.1.4. Support Structures ......................................................................................................... 56 4.2. Promoting Egypt’s Entrepreneurship Potential ........................................................ 79
2.1.4.1. Accelerators / Incubators .................................................................................................. 56 4.2.1. Media ....................................................................................................................................... 79
2.1.4.2. Mentorship ......................................................................................................................... 57 4.2.2. International Public Relations ............................................................................................ 80
2.1.4.3. Advisory Services .............................................................................................................. 57
2.1.4.4. Programs ............................................................................................................................. 57 5. Fostering an Enabling Legal & Regulatory Environment //////////////////////////////// 82
2.2. Seeking Higher Degrees of National & International Integration ........................... 58 5.1. Legal .............................................................................................................................. 84
2.2.1. Linkages ........................................................................................................................... 58 5.1.1. Investment Law ....................................................................................................................... 84
2.2.1.1. Startup - to - Startup .......................................................................................................... 58 5.1.2. Companies Law ..................................................................................................................... 85
2.2.1.2. Startups - to - Corporates ................................................................................................ 59 5.2. Regulatory .................................................................................................................... 86
2.2.1.3. Startups - to - Government .............................................................................................. 62 5.2.1. Setting Up A Business .......................................................................................................... 86
2.2.1.4. Startups - to - Academia .................................................................................................. 62 5.2.2. Operating A Business .......................................................................................................... 88
2.2.1.5. Ecosystem Hubs ............................................................................................................... 62 5.2.3. Closing a Business ............................................................................................................... 92
2.2.2. Internationalization ....................................................................................................... 63 Benchmarking ////////////////////////////////////////////////////////////////////////////////////// 94
2.2.2.1. Trading ................................................................................................................................ 63 Citation ////////////////////////////////////////////////////////////////////////////////////////////// 106
2.2.2.2. Cross-border Expansion ................................................................................................. 63
1
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2
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U N G l o b a l C o mp a c t , Av a i l a b l e a t : h t t p : / / b r e a k t h r o ug h . ung l o b a l c o mp a c t .o r g / b r e a k t h r o ug h - b us i ne s s - mo d e l s / c o l l abora ti ve- ec osystem/
6/ 7/
The
116 Egyptian economy has made large
improvements in the past years which
can be partly attributed to the advances
INTRODUCTION 116

0
achieved by the private sector. In 2017,
Egypt reached an annual growth rate of
five percent, the highest since the political
and economic upheavals that followed
the 2011 revolution. In this context, the
private sector must be seen as the key
driver for economic growth. It contributes
to around 60 percent of the GDP and
accounts for 74 percent of employment.

P.06-P.27

why? a startup is fast-growing

#STARTUPS a startup is innovative
a startup is tech-enabled
MATTER a startup is scalable
STARTUPS ARE a startup is risky
CATALYSTS FOR a startup is uncertain
ECONOMIC a startup is innovative
GROWTH AND a startup is fast-growing
DYNAMISM a startup is innovative
The Egyptian economy has made large improvements in the past years
a startup is tech-enabled
a startup is scalable
which can be partly attributed to the advances achieved by the private
sector. In 2017, Egypt reached an annual growth rate of five percent, the
highest since the political and economic upheavals that followed the 2011
revolution. In this context, the private sector must be seen as the key driver

a startup is risky
for economic growth. It contributes to around 60 percent of the GDP and
accounts for 74 percent of employment.

Set against a growing number of job seekers, the private sector is seen
as Egypt’s route to sustainable growth. Around 700,000 Egyptians look
to enter the workforce every year; a number that grows year-on-year on
the back of rapid population growth. A well-developed private sector -
one that embraces entrepreneurship and fosters innovation - contributes
a startup is uncertain
to achieving economic stability through the creation of job opportunities,
while simultaneously attracting foreign and domestic investments and
competing locally and globally. a startup is innovative
Startups are not the sole solution for economic problems, but when it
comes to unleashing Egypt’s full economic potential, startups have an
unparalleled role to play. Startups constitute one of the building blocks
of a thriving economy, with innovation at the crux of their evolution. Their
a startup is tech-enabled
continuous search for opportunities allows them to expand faster - both
domestically and internationally - which feeds supply chain needs and
boosts exports. This way, not only do successful startups create cutting-
edge products and services, they become powerhouses for increased
a startup is scalable
productivity and competitiveness.
1 0/ 11/
116 116

what is
STARTUPS
A STARTUP? CAN SPARK AN
Startups are change agents to improve
human experience.
INCREASE IN THE
STANDARD AND
Startups can spark an increase in the
standard and quality of life. Not only can
they improve the availability, accessibility
and quality of products and services offered
- collectively, startups contribute to local
development, on account of infrastructural
improvements that are associated with the QUALITY OF LIFE.
STARTUPS ARE
expansion of startups. Moreover, startups
are vital tools for the creation of inclusive
wealth and its distribution, as they mobilize
resources from both the private and public

CHANGE AGENTS
sector in non-traditional ways. Furthermore,
startups can create high-quality jobs,
directly and across their supply chains.

What is a “startup”?
During the Ecosystem Builder Retreat (May
2018), the Startup Manifesto community
TO IMPROVE
THE HUMAN
defined a startup as a company that is:

• Scalable & fast-growing

• Innovation-driven & enabled by technology
• Risky & deals with high degrees of
uncertainty EXPERIENCE.
1
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2
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1 2/ 13/
116 116

FAW RY •
•
Fawry - electronic payment network / founded in 2008
Diwan Videos - multi-platform network on YouTube / founded in 2010
• Wuzzuf - recruitment platform / founded in 2011
D I WA N V I D E O S
• Vezeeta - online medical platform / founded in 2011
• Aqarmap - real estate search engine / founded in 2011
WUZZUF • Karmsolar - solar technology & integration company / founded 2011
• Edfa3ly - online ordering website / founded in 2011
V E Z E E TA • Eventtus - platform for events tickets sales and audience
management / founded in 2012
AQARMAP • Instabug - software / founded in 2012
• Taskty - home maintenance services / founded in 2012
KARMSOLAR • Zee3 - talent scouting / founded in 2012
• Nafham - K-12 crowdsourced educational platform linked to the
E D F A A 3 LY mandated public curriculum / founded in 2012
• Tagaddod - renewable energy & waste management / founded in
2013
EVENTTUS • Paymob - electronic payments acceptance / founded in 2013
• Simplex - CNC machines / founded in 2013
I N S TA B U G • Yaoota - e-commerce - online comparison platform / founded in 2014
• MoviePigs - Arabic indie films streaming / founded in 2015
TA S K T Y • Chaino - social network platform / founded in 2015
• iFix - mobile hardware repairs / founded in 2012
ZEE3 • Mumm - home-cooked meals / founded in 2015
• Elves - personal helper / founded in 2015
NAFHAM • MoneyFellows - collaborative group lending & savings platform /
founded in 2015
TAG A D D O D • D-Kimia - diagnostic solutions to detect diseases / founded in 2013
• TA Telecom - mobile content platforms & analytic tools / founded in
2000
PA Y M O B • RiseUp - platform connecting startups to resources / founded in 2013

SIMPLEX These success stories illustrate that the Egyptian startup scene is
rapidly growing. More and more Egyptian startups are now maturing
YA O O TA into the next phase of the business cycle, with companies in their third
or fourth year requiring investments surpassing $2 million. However,
MOVIEPIGS in comparison to regional and international benchmarks, there is still
room for growth. In 2016, disclosed investments in Egyptian startups
CHAINO amounted to $15 million, compared to $27 million in the United Arab
Emirates (UAE) and $76 billion in the United States (US).
IFIX Meanwhile, the total early stage entrepreneurial activity (TEA) rate
Entrepreneurship is part of Egypt - and this has never been different. in Egypt amounted to 7.4 percent in 2015, which means that three
Egypt’s economic history is rich with examples that demonstrate MUMMM years ago, around 7.4 percent of the adult population (aged 18-64) -
*Evaluated based outstanding entrepreneurial spirit and a deep-rooted culture that compared to a global average of 13 percent - was either involved in
on their potential
global and regional fosters creativity and opportunity generation. From the founding E LV E S setting up a new business or had started a business that was younger
appeal, the quality of Banque Misr by Talaat Harb in 1920 to Egypt’s first $100 million than three and a half years.
of their investors
(professional VCs), and exit with Fawry in 2009, entrepreneurship has always played MONEYFELLOWS
the amount of funding. a significant role in the Egyptian economy. This tradition was
https://www.
forbesmiddleeast. cemented following the 2011 revolution. Between 2012 and 2013, D-KIMIA
com/en/list/the-20- up to 9,000 startups were founded.6 Leveraging on efforts from
most-promising-
egyptian-startups/
; World Economic
the government, private sector, non-governmental organizations
(NGOs) and international development organizations, a group of
TA T E L E C O M
Forum, 2017: http://
Egyptian entrepreneurs stood out by founding a cohort of high
widgets.weforum.org/
mena-startups-2017/ growth startups*. Among the most prominent examples are: RISEUP
1 4/ 1 5/
116 116

Alexandria: 4,739,941
Ismailia: 1,327,183
Aswan: 1,421,982

Assiut: 4,360,746

Cairo: 7,583,906
Minia: 5,498,331

Giza: 8,626,693
THE TOTAL POPULATION
OF EGYPT IN 2017 REACHED
94,798,827 WITH 21,700,000
CLASSIFIED AS YOUTH.
according to the Central Agency of Public Mobilization and Statistics (CAPMAS) 2017 Census

Geographical
Distribution in
2017 according
to CAPMAS
2017 Census

37,624

324,452 graduates from public universities.

16,729 graduates from private universities.
IT and computer
science major
Graduates of Egyptian universities:

57,247
engineering
major
graduates

in 2016
according
to CAPMAS
2017 Census

why? Key players of the ecosystem:

#ECO- Financial Institutions

Government

SYSTEMS
Public / Media
Academia
Startups
MATTER Corporates
Support Organizations
Potential Entrepreneurs
ECOSYSTEMS Entrepreneurs
PROVIDE FERTILE The seeds have been planted, the roots grew, we have seen the first
buds and now it is time for more of them to blossom.

SOIL FOR STARTUPS Egypt’s entrepreneurship ecosystem has leaped impressive

steps in recent years. Egypt harbors one of the largest number of
entrepreneurship institutions in the MENA region, while the government
has been very proactive in passing new and progressive legislation
Startups do not grow in a vacuum - they need a thriving to facilitate their continuation. The Global Entrepreneurship Monitor
entrepreneurship ecosystem to flourish. An entrepreneurship (GEM) said that the strength of Egypt’s ecosystem lies in the physical
ecosystem “is formed by people, startups in their various stages and infrastructure and internal market dynamics. Overall, Egypt’s ranking
various types of organizations in a location (physical and / or virtual), is comparable to other efficiency-driven economies. To fully pursue
interacting as a system to create new startup companies.” a course towards becoming a more knowledge-driven economy,
Ecosystems play the vital role of bringing together the different however, Egypt needs to further strengthen its ecosystem by
elements concerned with entrepreneurship. They constitute the overcoming a number of persisting challenges. While this is not an
institutional context that a productive entrepreneurship environment easy task, the right foundations have already been laid down, as
requires. Therefore, an entrepreneurship ecosystem’s composition and Cairo’s ranking on global scales demonstrates. It’s now time to further
its dynamic qualities are essential to help startups grow. build on these.
20/ 21/
116 116

what is?
# THE
STARTUP
MANIFESTO
BY THE ECOSYSTEM
FOR THE ECOSYSTEM
AN The Startup Manifesto provides an overview of current challenges and
ACTION potential solutions. It proposes what needs to be done and explores
PLAN how these changes can be achieved.

Globally, entrepreneurship ecosystems continue to encounter

obstacles on their growth trajectory - and Egypt is no exception. As
a roadmap for change, the Manifesto presents an overview of the
challenges facing the ecosystem while proposing concrete solutions
to overcome them. To ensure comprehensiveness and practicability, it
incorporates the perspectives of a variety of players.

The Egyptian entrepreneurship ecosystem has leaped impressive steps

forward in recent years but needs to evolve further. Egypt upholds one
A The Startup Manifesto brings everyone together in one document. It is
of the largest number of entrepreneurship institutions in the Middle East
PLATFORM the place to make change happen.
and North Africa (MENA) and has been very proactive in passing business
reform19. The Global Entrepreneurship Monitor (GEM) has identified FOR
COLLECTIVE The Manifesto is a direct response to the need for collective
that the strength of Egypt’s ecosystem lies particularly in physical
ACTION action. It aims to initiate a continuous dialogue between all key
infrastructure and internal market dynamics. Overall, Egypt’s performance
ecosystem players while being the reference point for any resulting
in the GEM ranking is comparable to other efficiency-driven economies.
or corresponding actions. Once an action plan is clearly defined,
To fully pursue a course towards becoming a more knowledge-driven
the ecosystem needs to come together to make the magic happen.
economy, however, Egypt now needs to further upgrade its ecosystem
The way forward requires intensive discussions and hands-on
by overcoming current challenges. The objective thereby should be to
implementation. Change with this level of complexity can only be
become world class - and no less. While this certainly is not an easy task,
achieved when all key players work together.
the right foundations for this have already been established, as Cairo’s
position in several global startup hub rankings demonstrates.
The time is now to further build on them.
22/ 23/
116 116

why do?
WE NEED A
# STARTUP-
MANIFESTO
STARTUPS FACE
UNIQUE CHALLENG-
ES THAT NEED TO
BE ADDRESSED
SEPARATELY, ASIDE
FROM SMES.
The Manifesto is a direct response to the lack of a comprehensive
understanding regarding the hurdles facing Egyptian startups. Startups
and small- and medium-sized enterprises (SMEs) are both types of
businesses that are essential for economic growth and sustainability.
A thriving SME sector is considered the backbone of an economy
across the globe, especially in emerging markets. Thereby, the Startup
Manifesto sees an SME as a more institutionalized enterprise with a
defined and already proven business model. The strengthening of the
SME sector in Egypt is already considered a top priority. This goal is
hard to separate from further developing the startup ecosystem to
create a strong pipeline of companies that can eventually grow into
more established businesses. Towards this objective, however, the
growths of SMEs and startups need to be considered as two distinct
objectives. Startups are confronted with specific challenges which SMEs
either do not face or suffer from to a lesser extent - and vice versa.
While Egypt has made noticeable progress in terms of facilitating SME
development in recent years, it did not yet fully consider the issues that
startups face in particular. This is where the Manifesto steps in.
24/ 2 5/
116 116

Voices of ecosystem players... "A supportive ecosystem where

entrepreneurs can overcome
WHAT challenges together."

WOULD
"An expanding ecosystem, always
engaging with people from outside
the usual 'bubble'."

YOU WANT "An encouraging, realistic, helpful

THE ECO-
ecosystem."

"A reliable ecosystem."

SYSTEM TO "A connected, collaborative

ecosystem."
BE LIKE? "A place to exchange knowledge and
celebrate real success stories."

"An 'open' ecosystem that allows

data sharing."

"A specialized ecosystem."

26/ 2 7/
116 116

our... L I ST O F E C O SY ST E M I N T E R V I E W E E S

METHOD-
1. Abdelkader Ahmed 16. Hoda Hamad
Founder, Business Development Business Development Associate //
Executive // AlMaqarr & ElRehla Al Makinah

2. Ali Zewail 17. Hussein El-Gueretly

OLOGY
CEO & Co-founder // Chaino Independent Consultant

3. Amira Azzouz 18. Ibrahim Emad

Founder & Editor-in-Chief // Fustany Venture Capital Fellow // UNICEF

4. Amr Shady 19. Menna Abdelrahman

CEO & Co-founder // Aingel Corp. General Manager // Cairo Angels
T H E F I R ST E D I T I O N O F T H E STA R T U P 5. Ashraf Sabry 20. Mohamed Rahmy
M A N I F E ST O WA S D E V E LO P E D T H R O U G H . . . CEO & Founder // Fawry Managing Director // Endeavor

6. Ayman Ismail 21. Muhammed Nagi

32 CONVERSATIONS Abdul Latif Jameel Endowed Chair of
Entrepreneurship
Managing Director // AlMaqarr

22. Ramez Serafy

WITH ECOSYSTEM KEY PLAYERS Founder & Director Venture Lab //
American University in Cairo CEO // Flat6Labs

7. Bahia Sharkawy 23. Rana El Faramawy

5 REVIEW SESSIONS Co-founder // Al Makinah Founding Partner & Business Developer //
Chairs & Co
8. Con O'Donnell
Co-founder // RiseUp 24. Sherif El Behery
WITH A TOTAL OF 9. Dalia Tadros
Head of SMEs & Micro Finance //
Banque Misr

59 PARTICIPANTS Executive Director //

Egyptian Private Equity Association 25. Tamer Azer
Investment and Venture
10. Gazbia Sorour Development Director // A15
2 ECOSYSTEM MEETINGS Innovation Lab Coordinator // UNDP
26. Tarek Fahim
11. Hadia Hamdy Managing Partner // Endure Capital
Lecturer in the Department of
WITH A TOTAL OF Entrepreneurship & Innovation
Management //
27. Tino Waked
General Manager // Uber Egypt

87 PARTICIPANTS German University in Cairo

12. Hala Hattab

28. Valentina Primo
Editor-in-Chief // StartupScene
Associate Entrepreneurship Professor // Founder // Startups without Borders

1 ECOSYSTEM BUILDER British University in Cairo

13. Hany Soliman

29. Waleed Abdelrahman
CEO // Mumm
RETREAT OVER 3 DAYS Innovation Lab Manage // CIB
30. Willie Elamien
Managing Director // Flat6Labs
WITH A TOTAL OF 14. Haytham Dadeer
CEO & Founder // AlMasdar
31. Ziad Mokhtar
60 PARTICIPANTS 15. Hesham Safwat
CEO // Jumia
Managing Partner // Algebra Ventures

AND AN IN-DEPTH Together, we want to make entrepreneurship in Egypt thrive. Join Us!
LITERATURE REVIEW. WWW.STARTUP-MANIFESTO.ORG // [email protected]

ECOSYSTEM
entrepreneurship as they constitute the
immediate environment for most of its

1
actors, with startups being at the core.
In this context, collaboration plays a
central role in boosting performance.
PERFORMANCE
Increased levels of collaboration can
benefit individual businesses, organizations
and institutions on various levels.
Through the creation of a so-called value
web1, collaborations can grow to become

P.28-P.33
the ecosystem’s defining features.
Through expanding, and eventually
transcending the boundaries of each
player in the ecosystem, startups
and other ecosystem players can
collectively pool resources, reduce
costs, create new value for all involved
parties, and stimulate complementary
activities, all of which ensure a level of
dynamism and a continuous drive to
innovate that are necessary to compete
in the current economic system.

1
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2
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U N G l o b a l C o mp a c t , Av a i l a b l e a t : h t t p : / / b r e a k t h r o ug h . ung l o b a l c o mp a c t .o r g / b r e a k t h r o ug h - b us i ne s s - mo d e l s / c o l l abora ti ve- ec osystem/
30/ 31/
116 116

1.1. ECOSYSTEM VISION

What is the problem?
• The ecosystem is at risk of becoming a platform for “positioning”
purposes only.
• True collaboration and / or overall coordination is not sought when it

& COORDINATION •
•
comes to dealing with (potential) competitors.
Support for entrepreneurs is sometimes still regarded as charity work.
The ecosystem could become an “ego-system,” dominated by a few
individuals/organizations.
What is it? Why is it important?
In order to keep growing, the ecosystem needs to chart its own, What should be done?
independent vision - a manifestation of what it has initially set out to • Develop a code of conduct and / or code of ethics for the inner
accomplish. Without such an overarching conceptual framework and workings of
corresponding tools of implementation, efforts run the risk of fizzling the ecosystem.
out, which could hinder the ecosystem’s overall performance. To ensure • Foster win-win scenarios and spotlight best practices.
meaningful impact and efficient resource utilization, activities need • Facilitate access to all published material.
to be designed in line with the ecosystem’s overarching vision and in • Develop a campaign to underline the difference between supporting
coordination with all the different actors that operate within it. entrepreneurs and giving charity.
What is the problem?
• Lack of an overarching vision.

1.3. ECOSYSTEM INFOR-

• Lack of cohesion - the ecosystem does not regard itself as
a collective yet.
• Difficulty to actualize activities after initial momentum due to lack of
resources and / or follow up.
•

•
Lack of a coordinated effort across support structures to create
pipelines to serve startups across different stages and industries.
Confusion among (potential) entrepreneurs about who to approach for
questions or opportunities for networking.
MATION AND DATA
What is it? Why is it important?
What should be done? While important research has been conducted in recent years, key data is
• Develop a shared vision. still missing. This hampers the ecosystem’s growth and performance as it is
• Establish a pool of shared resources. an obstacle to tailoring interventions, which directly affects startups’ growth
• Establish / leverage on an ecosystem platform with regular activities cycles.
and continuous engagement.
What is the problem?
• Forge coordinated efforts across support structures to create a pipeline
• Lack of a widely accepted definition of what a startup is and how it differs
of services for startups across different stages and industries. from an SME
• Develop a directory based on FAQs to guide entrepreneurs to the • Lack of key facts about the ecosystem, including number of startups that
relevant person/organization that can provide support are founded each year, number of startups that fold operations and main
reasons for failure.
• Lack of meaningful data on the impact of entrepreneurship and the
ecosystem, including number of jobs created, number of solutions

1.2. ECOSYSTEM •
developed and how widely they are adopted.
Lack of data specific to each industry, including key figures, trends and list
of companies / individuals already working in each space.

CONDUCT
• Lack of an overview of different financial solutions for startups, including
the advantages and disadvantages of the existing players in the market.
• Need to ensure easy accessibility to information.

What should be done?

What is it? Why is it important? • Establish a research platform with a focus on the ecosystem in
The Ecosystem Conduct refers to a set of accepted behaviors, norms coordination with current players.
and values that the community agrees on. For the ecosystem to • Develop a shared pool of resources to initiate inquiries and leverage /
grow in a way that is beneficial for all parties involved, a spirit of true expand on existing research studies.
collaboration needs to become an integral part of its overall mode • Establish / strengthen / merge entities that carry out monitoring and
of operation. This is relevant to the interplay between actors from evaluation activities specific to startups.
different spheres of the ecosystem, interactions between competitors • Ensure distribution of results (Arabic and English / online and offline)
outside Cairo.
and the ecosystem’s relationship with people and organizations
• Develop training material with localized content to introduce people to the
outside its existing network. ecosystems and functioning modalities.
• Establish an online platform for all startup-related resources.
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Data and Information Availability: 14%

International Business Linkages: 2%

Domestic Business Linkages: 5%
Legalities and Regulations: 12%

Macroeconomic Conditions: 2%
Societal Acceptance: 2%
Infrastructure: 5%
Know-How: 7%

Education: 2%
Funding: 12%
Talent: 38%

*Breakdown of the survey's answers:

Talent :38%
In your opinion, which
is the most significant
Data and Information Availability: 14%
challenge facing
Funding: 12% startups in Egypt today?
Legalities and Regulations: 12%
Talent seems to be the “hot topic” of
Know-How: 7% every startup conversation, as talent is a
Domestic business linkages: 5% key element of the success and growth
of startups. Startups seem to struggle to
Infrastructure: 5% find the “right-fit” talent for their teams,
which can be traced to multiple reasons.
International Business Linkages: 2% Given that most startups in Egypt are
not well-funded, the high cost of talent
Societal Acceptance: 2% would restrict the startups’ ability to
create first- rate teams, thereby affecting
Macroeconomic Conditions: 2% their ability to create and sustain growth.
Education: 2% According to the startup manifesto
survey, 38% of respondents believe
that “Talent” is the main problem facing
**This data is based on 43 responses startups in Egypt. Surprisingly, “Funding”
from a non-representative survey came in third, along with “Legalities and
sent out to key representatives of the Regulations”, and preceded by “Data
Egyptian ecosystem in Spring 2018 and Information Availability”.

SUSTAINABLE
factors directly affecting business growth
are equally important, and hence, need to

2
be discussed separately and at length.

The Startup Manifesto emphasizes the idea

GROWTH
that growth should be thought out in tandem
with overall businesses sustainability.
This can be achieved through adopting
the triple bottom line (TBL) framework;
an integrated, three-part approach that

P.34-P.69
accounts for people, profit and the planet.

2.1. INCREASING
2.1.1.1. BANKING

What is it? Why is it important?

Globally, early-stage startups are not an important customer segment

RESOURCES’ for banks when it comes to loan provision, primarily due to their lack of
track record which renders them risky. The banking sector plays a more
important role once startups start to mature. This usually starts at the
growth stage and extends into the rest of the business lifecycle.

AVAILABILITY, SME banking has become increasingly important in Egypt over the
last decade, with several initiatives targeting the facilitation of lending

ACCESSIBILITY
programs across public and private banks. Most notably in 2016, the
Central Bank of Egypt (CBE) made it mandatory for banks to allocate
more of their lending to SMEs and micro enterprises. This has increased
the number of banks that offer special solutions for this market segment.

AND QUALITY However, the banking sector as a whole is not yet fully aware of the
distinct opportunities and challenges related to the entrepreneurship
scene as a whole, making this interface underdeveloped. This especially
applies to the offering of non-financial services that could be attractive for
To establish and run a startup successfully, the right resources need to early-stage startups and can help in establishing a relationship from early
be in place, including capital, input factors and support structures. These on.
resources need to be made available and accessible to entrepreneurs.
What is the problem?
• Lack of integration between banks and the investment community.
2.1.1. While the last few years saw substantial improvements across Egypt’s • Banks’ high collateral / guarantee requirements and / or the need to
FINANCE financial landscape, financial opportunities for startups remain too present credit histories.
scarce. This is true for both debt- and equity-based instruments. Different • Lengthy and costly processes and procedures to obtain credit.
types of equity-based solutions are growing in numbers, but they are still • Absence of information among entrepreneurs about the processes and
only serving a fraction of the market. Furthermore, current frameworks procedures necessary to obtain credit.
do not account for the specific features of startups. For example, in the • Scarcity of information among creditors about startups and their specific
banking sector, the idea of a startup as a potential client has not been needs.
fully introduced yet. • Lack of awareness about the different financial and non-financial services
banks are offering (including specific accounts, short-term loans, etc.).
Overall, this lack of access to institutionalized financial schemes • Difficulty to open a startup bank account.
- especially in the early stages of a startup’s lifecycle - renders • Lack of integration between payment gateways and accounting software
entrepreneurs dependent on internal financing solutions (personal with bank accounts.
savings) or support from family and friends. This means that the
entrepreneurship field remains exclusive to relatively wealthy and well- What should be done?
connected individuals. However, the increased availability of financial • Increase coordination and alignment between the CBE and the ecosystem.
resources does not necessarily lead to a better-performing ecosystem, • Increase integration between venture capital investment and banks as part
research shows. In fact, it can lead to certain market distortions which of building a support pipeline across different startup stages.
can in turn harm the ecosystem in the short- and long-run. It is clear, • Introduce a public loan guarantee scheme.
however, that startups are in need of financial solutions that allow them • Develop public guidelines outlining the necessary processes and
to hire and retain top talent. Otherwise, any further boost in human procedures to obtain a loan.
capital development would not be beneficial for the startup scene but • Increase awareness of the entire service portfolio that banks are offering
rather benefit larger corporations, or ecosystems of other countries. A beyond traditional loans.
suitable approach to deal with this complex web of challenges is yet to • Develop training sessions to guide entrepreneurs on how to make their
be unraveled across both traditional and non-traditional financial players. startups "bank-friendly".
• Enable intangible assets to be pledged as collateral for loans.
Once startups are ready to scale, the options of later-stage equity- • Accept a more general description of collateral.
based financial tools are few. While raising funds at the Seed- or Series • Establish a centralized e-collateral registry.
A-level is starting to become easier, funds offering bigger ticket sizes • Allow for alternative ways to establish credit history.
are limited in numbers, resulting in the “missing middle” phenomenon, • Develop special banking solutions for startups.
before companies mature enough to be attractive for big-ticket • Establish a “fast track” out-of-court enforcement mechanism to secure
investors. Furthermore, the path towards an initial public offering (IPO) is creditors.
cumbersome for SMEs. All of this influences early-stage investors since • Ensure the integration of payment gateways and accounting software with
the current market structure lacks attractive exit strategies. bank accounts.
• Revisit loan requirements and processes to make them more aligned with
the business environment outside Cairo.
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UAE: 84%

TOTAL NUMBER OF BANKS Bahrain: 82%

IN EGYPT : 38 BANKS WITH

Saudi Arabia: 69%

Jordan: 25%

4,000 BRANCHES. Egypt: 14%

according to Alex Bank Yemen: 6%

Financial Inclusion:
Egypt VS. MENA in December
2017 according to Alex Bank

1
W E F, 20 1 6 . Ne w M o d e l s f o r E nt r e p r e ne ur s h i p. Av a i l a b l e a t : h t t p : / / r e p o r t s .w e f o r um.o r g / ne w - mo d e l s - f o r - e nt r e p r e neursh i p/exec uti ve- summa ry/
2
U N G l o b a l C o mp a c t , Av a i l a b l e a t : h t t p : / / b r e a k t h r o ug h . ung l o b a l c o mp a c t .o r g / b r e a k t h r o ug h - b us i ne s s - mo d e l s / c o l l abora ti ve- ec osystem/
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2.1.1.2. ANGEL INVESTMENT • Lack of startup opportunities to invest in, which can lead to unduly high
valuations.
What is it? Why is it important? • Lack of specialization across industries and ticket sizes.
Angel investment is an important source of financing, particularly in the • Lack of specialized fund managers.
early stages of a startup. An angel investor is most commonly defined • Focus on tech industry.
as an affluent individual who provides capital for a startup, usually • Inhibited growth due to capital gain taxes.
in exchange for convertible debt or ownership equity. An increasing • Absence of a definition for the startup-VC relationship.
number of such individuals are organizing themselves into so-called • Need for sophisticated data / evidence to secure VC funding.
angel networks to pool resources. • Novelty of model in Egypt with a small number of successful exits to
date.
Angels are often the only chance for entrepreneurs to get their
businesses off the ground. More indirectly, angels are critical to What should be done?
producing deal flow for investors interested in late-stage ventures. • Increase the overall pool of VC funding available by teaming up with
banks and institutional investors.
What is the problem? • Ensure wide distribution of VC funds across different funding stages.
• Angels are few and far compared to demand. • Increase emphasis on specialized VC funding by widening industry
• Angel networks are not adequately formalized. focus and representing all ticket sizes to leverage on the full market
• Not all angel investors are aware of the specific role they should / can potential.
play after an investment, and they are under-equipped to manage such • Develop trainings on valuations and returns for startups.
roles. • Develop trainings for (potential) fund managers.
• Success stories and / or lessons learned are not widely shared. • Design trainings on startup specifics for funds across all positions.
• Most angel investments currently go toward a limited number of • Establish startups and SME rating agencies based on non-financial
industries. metrics to increase access to funding.
• Access to angel networks and / or high-net-worth individuals is often • Regulate the VC industry by incentivizing investments, absolving
exclusive to certain social circles. capital gain tax, and facilitating public-private VC funds.
• Angel investment is not yet a tried and tested model in Egypt, as only a • Further build attractive exit scenarios for investors to increase chances
limited number of successful exits took place to date. of VC funding.

What should be done? 2.1.1.4. STOCK MARKET

• Develop awareness sessions for (potential) angel investors.
• Design training sessions for (potential) angel investors. What is it? Why is it important?
• Develop proper industry standards, guidelines and respective The Egyptian Exchange (EGX) has taken several steps in recent years
templates. towards the inclusion of the specific needs of SMEs. Most notably, the
• Share success stories and lessons learned from the perspective of Nile Stock Exchange (NILEX) opened in 2010 through an initiative by
both, the investor and the investee. the EGX. It is specifically designed to foster growth in SMEs across
• Reach out to high-net-worth individuals through existing networks. MENA. It shares most of the rules and principles of the main market
• Point existing angel networks toward diverse industries. but upholds less demanding listing and disclosure requirements, as
• Ensure accessibility of existing angel networks for future angel well as smaller fees to attract small- and mid-cap businesses. While
investors who are currently not connected. startups would only consider a listing on the stock market at an
• Develop an online platform where angel investors and high potential advanced stage, the existence and functionality of the stock market is
startups can connect. essential for the ecosystem as a whole, as it is one of the few attractive
• Increase number of networking events that bring together current exit options for early-stage investors, which indirectly influences the
investors, potential investors and high potential startups. chances of securing early-stage startup finance.
• Promote successful exit strategies to attract more investors.
What is the problem?
2.1.1.3. VENTURE CAPITAL • Lack of overall interest in NILEX.
• Absence of governmental vision.
What is it? Why is it important? • Lack of awareness by SMEs of the benefits of listing.
Venture capital (VC) - a form of financing provided by firms or funds to • Lack of technical know-how related to listing.
emerging startups deemed to have high growth potential - is of critical • Increased vulnerability to manipulation as NILEX is not liquid enough.
importance in the early stages of tech-enabled, high-growth startups. • Imposition of a five-percent market cap by NILEX on the first day of
Usually, a venture capital investment offers startups benefits beyond trading which discourages investors.
financial support, namely sustenance that can come in the form of
mentorship and business development advisory. What should be done?
While the VC industry has seen significant growth in recent years, it has • Develop a vision that is aligned with the overarching vision of the
not yet reached its full potential. ecosystem.
• Design informational sessions on IPOs for SMEs.
What is the problem? • Develop a guide to facilitate SME listing.
• Lack of availability of VCs in relation to overall number of startups in Egypt.
In 2016, disclosed
investments in
startups amounted to
$76
BILLION
in US

$27
$15 MILLION
in UAE
MILLION
in Egypt
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• Develop incentives for SMEs to list themselves on NILEX, e.g. tax breaks. unreliability of customers).
• Increase NILEX market liquidity through large-scale institutional investment. • Payroll and salary processing is complex due to weak internet banking.
• Abolish first day of trading market cap imposed by NILEX. • Lack of clear options to process payments digitally, which inhibits
subscription for app-based startups.
2.1.1.5. CROWDFUNDING
What should be done?
What is it? Why is it important? • Develop financial transaction schemes for individuals unable to issue
Crowdfunding is becoming increasingly prominent as an alternative credit cards.
funding mechanism for startups. It is most commonly defined as the • Develop initiatives to increase the number of credit card holders.
collective effort of a large number of individuals who network and pool • Create awareness on the security of credit cards for those who already
small amounts of capital to finance a new or existing business venture. own them but are reluctant to use them due to security concerns.
• Enhance user interface (UI) and functionality of internet banking.
Generally speaking, crowdfunding can be equity-based or reward-
based. While equity-based crowdfunding warrants company shares
for investors, relative to their financial commitment, reward-based
crowdfunding is based on contributors receiving gifts, or other means 2 .1 . 2 . Talent shortage is one of the main challenges facing entrepreneurship
of acknowledgment, instead of shares. HUMAN in Egypt. This applies at both the level of potential entrepreneurs and
C A P I TA L with regards to potential startup employees. These two groups need
What is the problem? to be considered separately from one another in order to address
• The mechanism and benefit of crowdfunding is still obscure to many. particular challenges and tailor appropriate solutions. Furthermore,
• Crowdfunding for startups in other countries has not yet been the current entrepreneurship talent shortage is also caused by certain
profitable for investors. more systemic issues that derive from formal and informal educational
• Shares acquired from crowdfunding are considered “securities”, which efforts. To be able to affect large-scale change, it is crucial to also
are heavily regulated to protect investors, including the requirement discuss those rather overarching issues.
to disclose comprehensive and sophisticated information about the
“securities” and the respective company offering them. A focus on entrepreneurship education and training, however, does
• Private businesses face accounting hurdles, as crowdfunding money not mean that entrepreneurship has to necessarily be taught, nor
is technically considered donations that, in the absence of an invoice, that a respective education and training should turn everybody into
companies are not allowed to receive. an entrepreneur. Rather, exposure to entrepreneurship education
• Crowdfunding relies on the art of storytelling and video content should lead to the development of a mindset from which individuals
creation, which can be difficult for startups to comply with, especially in can benefit in various professional capacities, like setting up their
their early stages. own business, working in already existing startups or introducing
entrepreneurial thinking to corporate and public-sector environments.
What should be done?
• Increase public awareness of crowdfunding. 2.1.2.1. ENTREPRENEURS
• Further tailor crowdfunding to the market’s actual needs, with a
stronger focus on product / project validation. The mindset and caliber of startup founders is one of the most decisive
• Establish a crowdfunding exemption for investors that need less factors when it comes to achieving startup success. This warrants
protection. a focus on the specific challenges that (potential) entrepreneurs
• Showcase success stories to government entities to push for amending encounter in the specific environment that makes up the Egyptian
laws. ecosystem. Overall, both the quantity and caliber of startup founders
• Facilitate the receipt of crowdfunds by private businesses. need to be enahnced for more startups to succeed.
• Develop dedicated support (consultants, agencies, trainings etc.) for
startups to help them create impactful crowdfunding campaigns. 2.1.2.1.1. Awareness

2.1.1.6. PAYMENTS & FINTECH INFRASTRUCTURE What is it? Why is it important?

Widespread awareness about entrepreneurship as a potential career
What is it? Why is it important? path is of critical importance for more potential entrepreneurs to
Financial infrastructure relates to the way financial transactions are start their own businesses. Without a well-understood notion of
handled on a day-to-day basis. Currently, Egypt is a largely cash- entrepreneurship outlining both potential benefits and pitfalls, the
based economy, with only a limited number of transactions being ecosystem will only be able to grow until a certain limit is reached.
channeled through credit cards or other means of electronic transfers.
This becomes an issue for startups and inhibits the growth of entire What is the problem?
industries, like e-commerce and fintech. • Becoming an entrepreneur is not yet widely understood as a potential
career path.
What is the problem? • Entrepreneurship has experienced a lot of hype around it, which leads
• Cash collection operations add substantial costs. to unrealistic expectations.
• Cash-based transfers are prone to more risks (corruption, theft,
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What should be done?

• Mainstream failure stories in a way that changes the public’s
perception and boosts the sharing of experiences.
• Host a series of events where different ecosystem players present their
failure stories for everybody to learn from.
• Encourage proactive and self-driven learning from all support
structures and educational institutions.
• Create a “support system” for entrepreneurs / startup managers from
which they can receive technical and emotional support.
• Design training programs on risk management and building portfolios.
• Propose coaching solutions to aid entrepreneurs in developing habits
that help them succeed inside and outside of their startups.

2.1.2.1.3. Skill Set

What is it? Why is it important?

In order for more startups to be successful, entrepreneurs do not
only need to have the right mindset, but also must uphold the
necessary skill set that enables them to run a business. This skill
set encompasses both technical knowledge and soft skills that are
applicable across industries.

What is the problem?

• Many founders start their companies without any or with very little
work experience across business functions.
• Skills gap is especially apparent as related to overseeing technology
teams, finance and accounting, as well as team management.

What should be done?

What should be done? • Design tailored training programs (online and face-to-face) that
• Promote entrepreneurship as a potential career option across all can help (potential) entrepreneurs in orientating themselves across
different types of career-related institutions and entities. business functions.
• Paint a more realistic picture of entrepreneurship outlining all potential • Establish a network of experts and mentors who can support
upsides as well as expected challenges. entrepreneurs ad-hoc when challenges arise.

2.1.2.1.2. Mindset 2.1.2.2. STARTUP TALENT

What is it? Why is it important? Finding the right team is key to achieving success in a startup.
Entrepreneurs by nature are at the very core of the ecosystem. Their Therefore, emphasis needs to be put on developing and promoting
collective mindset is central to enabling the ecosystem to continuously the knowledge and skills conducive to finding the right talent to make
grow, evident in how entrepreneurship is perceived as well as in how startups successful.
entrepreneurs treat one another.
2.1.2.2.1. Awareness
What is the problem?
• Some founders tend to secure quick-wins, without the intent of creating What is it? Why is it important?
businesses with long-term value. Widespread awareness about entrepreneurship as a potential career
• A “rockstar mentality” can lead to megalomania. path is of critical importance not only for potential founders, but also
• Securing investments became an objective in itself, partly due to faulty for qualified talent that could consider joining a startup to initiate or
media coverage. further accelerate their career.
• Failure is not embraced.
• Lack of support for entrepreneurs who experience failure. What is the problem?
• Lack of emphasis on proactive and self-driven learning, alongside • Joining a startup is not yet widely understood as a potential career path.
technical training. • Job seekers are not aware of potential jobs offered by startups.
• Excessive focus on “being positive,” which leads to the absence of • Entrepreneurship has been experiencing a lot of hype, which leads to
problem solving and hinders learning. unrealistic expectations.
• Lack of awareness of potentially damaging lifestyle habits that can
affect sustenance. What should be done?
• Promote joining a startup as a potential career option across all different
types of career-related institutions & entities.
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• Create awareness of the possibility and respective benefits of startup comprises both formal and informal education. These issues need to
employment for job seekers. be tackled to further facilitate the growth of entrepreneurship in Egypt
• Paint a more realistic picture of the startup life as an employee outlining all more systematically.
potential upsides, as well as expected challenges.
2.1.2.3.1. Formal Education
2.1.2.2.2. Skill-Set
What is it? Why is it important?
What is it? Why is it important? Getting exposed to entrepreneurship-related education is not limited to
In order for more startups to be successful, startup employees must a fixed period in an individual’s life. However, the foundation for such
uphold the necessary skill set that enables them to both add value to activities is often laid down during primary and secondary education, or at
the company and to further accelerate their professional development. the university level. Therefore, entrepreneurship needs to be incorporated
The current education and training modalities in Egypt are not yet as part of the formal education system.
designed in a way that equips enough participants with the capacities
needed to become effective members of the ecosystem. A shortage What is the problem?
of talent is evident in the key domains that enable innovation, • Entrepreneurship-related education in primary and secondary schools is
namely design, technology and business, the branch concerned with not yet widespread.
entrepreneurship, management and marketing. • Existing entrepreneurship-related topics and / or initiatives weaved into the
secondary and tertiary levels are often peripheral to the main curriculum.
What is the problem? • Lack of coordination, which leads to duplication of activities.
• A substantial number of university graduates do not foster the skill set • Difficulty to combine formal with alternative educational efforts, despite
necessary for setting up their own business. their potential for creating holistic learning experiences.
• Technology skills are lacking in the current ecosystem; this is the case both • Lack of students’ exposure to already experienced entrepreneurs.
in terms of developers and product managers.
• Other domains that need an increased educational focus are design,
business (especially sales and digital marketing), law and finance.

What should be done?

• Establish training programs focused on the current talents gaps in the
ecosystem, with an emphasis on developing tech talent.

2.1.2.2.3. HR Best Practice

What is it? Why is it important?

Attracting qualified talent is not enough - retaining it is often the bigger
challenge, especially in the volatile startup environment. Therefore, the
establishment and implementation of proper HR practices is of pivotal
importance to secure startup success.

What is the problem?

• Proper HR practices are often neglected in startups, especially during
the early stages.
• Employment conditions within startups need to be more standardized.
• Unsuited behavior from startups has been reported when it comes to
contractual relationships with potential employees.

What should be done?

• Develop HR best practice guidelines for startups at different stages,
outlining minimum employment standards across all businesses,
whether registered or not.
• Develop a standardized approach towards startup employment and a
mechanism to ensure accountability, respectively.
• Develop a redress mechanism where (potential) employees can report
misconduct.

2.1.2.3. OVERARCHING ISSUES

Certain challenges that affect both (potential) entrepreneurs and

startup talent are to be found at the more overarching level which
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What should be done? What should be done?

• Incorporate entrepreneurship-relevant material into primary and secondary • Increase focus on inclusive, quality training programs at reasonable prices.
educational systems. • Develop a “Startup Needs Map” that reflects the skills and expertise that
• Standardize entrepreneurship-related activities in formal education systems are most needed.
to ensure effectiveness and efficiency. • Develop an “Asset Map” by other players in the ecosystem.
• Ease restrictions on collaborations between the formal education system • Devise a guide with the basic knowledge on starting a company.
and extracurricular initiatives / organizations. • Design up-to-date training curricula and establish a mechanism that
• Invite entrepreneurs to classrooms to tell stories and answer questions. ensures regular review and update.
• Create a pool of qualified trainers.
2.1.2.3.2. Online Courses • Develop incentives to retain trainers.
• Further expand / highlight existing training programs in all governorates.
What is it? Why is it important? • Develop tools to increase coordination between training providers.
Online courses are increasingly sought out by those interested in
becoming an entrepreneur or those seeking to acquire a skill that is 2.1.2.3.4. Combating Brain Drain
needed by startups. The number of Massive Open Online Courses
(MOOCs) has surged in recent years, with universities from all over the What is it? Why is it important?
globe offering part of their classes online, either for free or for a relatively In recent years, an increased number of qualified graduates and young
low fee. This development has been described as a critical move toward professionals have left in pursuit of opportunities abroad. This led to a
the global democratization of high-quality education. significant talent gap. The reasons behind their departure must be better
understood in the context of further developing human capital. If there is a
What is the problem? lack of incentive to stay in Egypt, all efforts to advance young job seekers
• Most MOOCs are only available in English. will contribute to the betterment of other countries’ ecosystems.
• Most online courses are targeted towards a western audience without any
tailoring to local market conditions. What is the problem?
• Lack of user commitment to complete courses after signing up. • Qualified graduates / young professionals leave the country to pursue
• Lack of awareness of the existence and / or usefulness of online courses. opportunities abroad causing a significant gap in talent.
• Lack of recognition by formal institutions of online courses. • Further efforts to boost education and training are likely to indirectly
• Lack of quality assessment upon completion of a course. benefit other countries, but not Egypt.
• Increased internal migration gives birth to a secondary talent gap in
What should be done? governorates.
• Develop online courses in Arabic / with Arabic subtitles. • Current graduates are either over- or underqualified for the labor market.
• Develop online courses that are tailored to the local and regional contexts.
• Understand why Egyptian students are among the highest to drop out of What should be done?
online courses. • Conduct research to understand why young talent leaves Egypt.
• Increase awareness among groups who are otherwise not exposed to • Develop a feasible benefit scheme for startups at different stages and a
online courses. mechanism to celebrate those who implement it.
• Develop quality standards to facilitate formal acknowledgment of online • Ease restrictions on giving equity to long-term employees.
programs. • Develop a training program for founders / startup managers on retaining
• Create and share a list of recommended courses suitable for individuals talent.
seeking to advance their entrepreneurship knowledge. • Develop a mentorship scheme focused on HR management.

2.1.2.3.3. Training Programs

What is it? Why is it important?

Training programs are an important tool to further develop one’s
knowledge base and skill set in a time-effective manner. In the context of
entrepreneurship, trainings are an important tool to get exposed or dive
deep into certain topics without having to enroll in more formal, and thus,
more time-consuming educational experiences.

What is the problem?

• Free and superficial training programs have created distorted expectations.
• Training curricula are not updated regularly.
• Qualified trainers / experts / practitioners tend to leave the country to teach
abroad.
• Training programs are Cairo-centric which leave potentially interested
individuals from other governorates at a disadvantage.
• Training companies operate in silos.
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What is the problem?

• Co-working spaces are working outside of the current legal framework.
• Co-working spaces do not house all services relevant to entrepreneurs.
• Lack of registered and affordable office spaces.
• Lack of guidance for entrepreneurs to find suitable co-working spaces.

What should be done?

• Warrant legal recognition and regulation of co-working spaces.
• Incorporate a broader portfolio of business services inside co-working
spaces.
• Facilitate the registration of buildings as commercial spaces.
• Allow rental of empty government spaces to startups under special
conditions.
• Create a directory to guide entrepreneurs to already existing co-
working spaces.

2.1.3.3. GEOGRAPHICAL DISPARITIES

What is it? Why is it important?

Most entrepreneurial activity in Egypt is centered around Cairo and
2 .1 . 3 . Entrepreneurs need to operate within well-grounded, functioning Alexandria. Entrepreneurs living in smaller cities face substantial
PUBLIC frameworks that offer basic resources, enabling them to focus on doing obstacles when trying to start or grow their business. This disparity
I N F R A- day-to-day business. stands true for a variety of resources, particularly regarding the
STRUCTURE Startups’ growth is directly linked to the infrastructure in which they provision of support services and finding the right talents.
flourish, which can either facilitate or hinder the process of setting up
and running a company. Persisting obstacles in this context can deter What is the problem?
entrepreneurs from founding startups in the first place. Furthermore, • Lack of overall startup support outside Cairo and Alexandria.
a relatively underdeveloped infrastructure can negatively impact • A concentration of talent is difficult to find outside main cities.
the collective competitiveness of Egyptian startups in comparison to • Lack of effort integration already undertaken in non-central
regional and international players. governorates.

2.1.3.1. ACCESS TO HIGH-SPEED INTERNET What should be done?

• Extend support organizations to smaller cities and rural areas.
What is it? Why is it important? • Increase networking efforts to create an entrepreneurship ecosystem
High-speed internet is essential for all businesses. Having access to that spans the entire country.
the latest communication technology is not only a vital feature for • Enhance integration between efforts already undertaken across
technology startups; it has become increasingly important across all governorates to create a pipeline of services for startups.
types of startups as the vast majority of high-potential startups are at
the very least technology-enabled.

What is the problem?

• Current internet infrastructure can be tremendously improved in terms
of speed and reliability.

What should be done?

• Invest in large-scale projects to upgrade existing infrastructure.
• Encourage public-private partnerships to upgrade existing
telecommunication infrastructure. This should involve startups and not
be limited to multinationals or large local companies.

2.1.3.2. WORKSPACE INFRASTRUCTURE

What is it? Why is it important?

Finding suitable and affordable workspaces is critical for startups,
especially in the early stages. While the availability and affordability
of a physical office space are points of consideration, workspace
infrastructure also encompasses the availability of support services that
directly relate to the day-to-day operations of a startup (e.g. printing
and internet services, conference room / call infrastructures etc.).
56/ 57/
116 116

2 .1.4. Beyond infrastructure, startups need adequate support structures to 2.1.4.2. MENTORSHIP
SUPPORT grow and succeed. While this is the case during the entire lifecycle of a
STRUCTURES business, it is particularly relevant during the early stages. What is it? Why is it important?
Mentors take on a vital support function for entrepreneurs. Their areas of focus
2.1.4.1. ACCELERATORS/INCUBATORS and / or expertise are valuable for founders at the beginning and throughout the
business journey.
What are they? Why are they important?
Accelerators are fixed-term, cohort-based programs that involve What is the problem?
mentorship and educational components, offering support for early- • Scarcity of qualified mentors that are accessible to startups, especially outside of
stage startups to be able to successfully launch. As the name suggests, Cairo.
their main goal is to expedite the growth of an already existing • Lack of clarity on startup-mentor relationship, its definition, parameters, respective
business. Incubators, on the other hand, do not operate based on leverage and ways to evaluate the relationship.
a fixed timeline. Rather, their aim is to offer a nurturing environment • Lack of specialized mentorship, particularly regarding business model validation
during the initial stages of formulating a business idea. and financial mentoring.
• Exclusion of experienced businessmen from the mentor pool.
What is the problem? • Poor experience in existing mentors, which makes room for inaccurate advice.
• Lack of exact definitions of accelerators and incubators, which vary
from country to country. What should be done?
• Lack of impact evaluation of the different accelerators and incubators. • Develop a pool of qualified entrepreneurs and / or experts who would like to
• Lack of clarity on the selection criteria for accelerator and incubator become mentors.
programs. • Design training programs to educate both mentors and mentees on the purpose
• Increased number of accelerators and incubators that simply copy behind the relationship and different forms it can take.
one another resulting in a lack of strategic alignment and loss of • Develop a mechanism and respective campaign to encourage experienced
specializations. businessmen, who reside in and outside Egypt, to become mentors.
• Focus on the tech industry.
• Overdependence on accelerators and incubators due to persistent 2.1.4.3. ADVISORY SERVICES
support during several stages of business growth.
• Shuttling between accelerators and incubators due to lack of progress What are they? Why are they important?
validation. The lifecycle of a business, with its various stages, imposes different challenges
• Lack of immediate support after a cycle of incubation / acceleration on entrepreneurs. Startups cannot always deal with such challenges internally.
cycle ends. Therefore, it is of critical importance to have the right advisory services available
• Absence of accelerators and incubators outside of Cairo. and accessible at any point during their growth path.

What should be done? What is the problem?

• Design evaluation and monitoring tools for accelerators and incubators • Lack of high quality and affordable advisory services.
to be able to devise best practices. • Absence of awareness among entrepreneurs about the importance of certain
• Develop clear, transparent selection criteria for applicants of services, especially advice on legal and financial matters during the early stages.
accelerators or incubators. • Inability to find lawyers at a low cost.
• Pursue a more programmatic approach while targeting a variety of • Difficulty to know which lawyers are trustworthy.
different industries.
• Develop a directory for accelerators and incubators to help guide What should be done?
startups at different stages and / or with different needs. • Develop a “Needs Map” of advisory services for different startup stages (including
• Increase accelerator / incubator support with regards to the provision legal, financial / accounting, market research, consulting etc.).
of non- financial services. • Create a list of service providers which would like to support startups.
• Ensure gradual disengagement of accelerators and incubators as • Increase awareness among entrepreneurs that certain services are crucial to their
startups mature. long-term business success.
• Create a shared database to help evaluate the admission and progress • Compile a list of startup-friendly lawyers.
of startups to prevent premature switching between accelerators and
incubators. 2.1.4.4. PROGRAMS
• Enhance coordination and collaboration between different players and
share lessons learned more extensively. What are they? Why are they important?
• Extend startup support to include access to courses, mentorships and It is essential to offer activities to aid potential entrepreneurs and early-stage
educational opportunities abroad. startups in developing competitive ideas. Such activities include bootcamps,
• Devise a mechanism to help startups move out of the accelerator / hackathons and business plan competitions. While such interventions are short-
incubator cradle. term and far less systematic than working within an incubator or accelerator,
• Increase number of accelerators and incubators outside of Cairo that collectively, they can yield targeted results.
are tailored to local needs.
58 /
116

What is the problem?

• Lack of high-quality programs.
• Absence of coordination between already existing programs.
• Scarcity of activities outside of Cairo.

What should be done?

• Increase number of programs while maintaining quality.
• Develop coordination tools to be used across program providers.
• Boost number of programs outside of Cairo.

2.2. SEEKING HIGHER

DEGREES OF
NATIONAL AND •
What should be done?
Develop a match-making mechanism based on industries and business

INTERNATIONAL
stages.
• Devise mechanisms that connect experienced and new entrepreneurs.

2.2.1.2. STARTUPS-TO-CORPORATIONS

INTEGRATION What is it? Why is it important?

Startups-to-corporations linkages refer to the collaboration between
startups and established businesses to achieve mutually beneficial
The continuous desire to expand is a key feature of entrepreneurship. scenarios. Such arrangements can be critical to foster startup growth
This is true in terms of the creation of business linkages within the and help more established businesses adopt the newest technologies,
narrower confines of a specific industry. It also applies to networking products and services without having to develop them in-house.
with players from different industries and sectors, both locally and
What is the problem?
internationally. • Corporates cannot contract unregistered startups.
• Scarcity of information about what startups can offer and what larger
2 . 2 .1 . Building contractual and strategic linkages with different key players businesses need.
LINKAGES in the ecosystem is an important measure to guarantee continuous • Lack of know-how in startups on approaching larger businesses and vice
innovation and integration. Such connections can be made at almost versa.
all stages of the business lifecycle, as each possesses its unique set of • Cash flow problems as a result of corporate partnerships on the back of
challenges and opportunities. lengthy contracting processes.
• Lack of delivery or unpredictable performance by startups.
2.2.1.1. STARTUP-TO-STARTUP • Below par payment for startups due to lack of track record.

What is it? Why is it important? What should be done?

Startup-to-startup linkages are concerned with startups collaborating • Reform corporate procurement laws and by-laws which currently put
with one another to achieve win-win scenarios. Such formal or informal startups at a disadvantage compared to larger businesses.
linkages among startups are essential to foster mutual growth. • Increase awareness in large businesses of the added value of startups.
Connecting with players within the • Boost awareness among startups that larger businesses could be
same or different industries can be pivotal to develop new ideas and interested in their products / services.
leverage one another for resources and experience. • Develop a match-making mechanism based on industries.
• Devise tailored solutions for corporate-startup collaboration.
What is the problem? • Design an overview of corporate contracting standards.
• Fear of competition between startups hinders linkages. • Establish / merge / strengthen the business unit or person responsible for
• Lack of collaboration between seasoned and new entrepreneurs. corporate-startup interactions.
60/ 61 /
116 116

How do you perceive Do you think the

the current cooperation Egyptian government is
efforts by various aware of the economic
ecosystem members? importance of startups?
*Breakdown When it comes to collaboration, there *Breakdown The perceived degree of government
of the survey's is not a widely agreed upon answer. of the survey's awareness varied to some degree among
answers: Respondents seem to have different answers: respondents. Most respondents chose
experiences and perspectives. Still, “slightly aware” to describe
Members are it could be inferred from responses Government is the government’s awareness of the
moderately that the ecosystem is collaborative slightly aware: importance of startups, whereas 14
willing to to some extent, as only 5 percent of 33% percent of respondents believe that
collaborate: 31% respondents believe that “members are the government is “highly aware” of
not at all willing to collaborate”, while Government the startups’ role. Still, a fine number of
Members the other 95 percent of responses differ is moderately respondents - 19 percent to be exact -
are willing to in the degree of perceived ecosystem aware: 31% believe the government is not at all aware
collaborate: collaboration. For instance, 31 percent,
28.5% the majority rule, of respondents voted Government is
that “members are not at all aware:
Members are moderately willing to collaborate”; 19%
slightly willing to whereas 10 percent of the votes
35 collaborate: 26% go to “members are very willing to 35 Government is
collaborate”. very aware: 14%
Members
are very Not sure: 2%
willing to
30 collaborate: 9.5% 30
Members are not
at all willing to
collaborate: 5%
25 25

20 20

15 15

10 10

5 5

0 0
Not at all Slightly Moderately Willing Very Not at all Slightly Moderately Very Not sure

2.2.1.3. STARTUPS-TO-GOVERNMENT What is the problem?

• Despite recent developments, the absorptive capacity of existing hubs is
What is it? Why is it important? not sufficient, especially outside of Cairo.
Linkages between startups and the government refers to mutually • Most new hubs are large-scale developments on the outskirts of cities.
beneficial collaborations between startups and public authorities. Not
only are such arrangements critical to foster startup growth, they can also What should be done?
help governmental authorities integrate startups’ newest technologies, • Open new hubs in different locations across Egypt while increasing
products and services without having to develop them in-house. knowledge exchange between them.
• Support hubs that tend to grow organically while using / renovating
What is the problem? already existing infrastructure in central locations.
• Lack of knowledge and awareness about what startups can offer and • Support industry clusters to enable faster growth and the creation of
what public authorities need. specific incentives and resources.
• Scarcity of knowledge on how to approach public authorities.
• Reluctance by public authorities to contract startups.

What should be done? 2.2.2. Startup expansion does not stop at national borders. On the contrary,
• Revisit the public procurement law which puts startups at a disadvantage I N T E R N AT I O - a large number of startups think and operate beyond the domestic
compared to larger businesses. N A L I Z AT I O N sphere at inception. This can be true for importing or exporting goods /
• Establish a central office with public- and private- sector representation services or having a formal presence in another country.
to act as a gateway for startups wishing to do business with public
authorities and / or large private firms. 2.2.2.1. TRADING
• Increase awareness in public authorities of the added value of startups.
• Increase awareness in startups that public authorities could be interested What is it? Why is it important?
in their products / services. Many startups engage in importing or exporting. In direct comparison,
Egyptian businesses tend to export less than other regional players.
2.2.1.4. STARTUPS-TO-ACADEMIA This could be the result of a large domestic market or strict local
export regulations. Similarly, barriers on importing have recently
What is it? Why is it important? increased to mitigate balance of payment issues.
Linkages between startups and academia refer to the intersection
between startups and academic institutions. Such arrangements can What is the problem?
be critical to foster startup growth and can be beneficial for respective • Lack of knowledge of export and import rules and regulations.
academic institutions who wish to apply and further develop their • Facilitation of trade only for large businesses.
research. Since science-based startups are most often an outcome of • Inaccessibility of export channels for individual startups due to high
hard-science faculties, the link between them and academic institutions costs.
has to be examined closely.
What should be done?
What is the problem? • Develop guidelines to facilitate startup trading.
• Startups in general lack the data and evidence-based information needed • Tailor tariff and non-tariff barriers to address startups.
for product / service development. • Establish a specialized import / export agency for startups.
• Academic institutions’ research often travels within limited circles.
• Science-based startups fall prey to commercialization as a result of a gap 2.2.2.2. CROSS-BORDER EXPANSION
in business experience.
What is it? Why is it important?
What should be done? Cross-border expansion sits at the core of most startups. While the
• Develop a matchmaking tool that connects startups with academic number of Egyptian startups that made the leap into the international
institutions thematically. market has increased in recent years, the process of cross-border
• Focus on action-based research by developing a communication channel growth needs to be evaluated.
that startups can use to suggest research topics to academics - such
projects can, upon completion of research, be implemented by startups. What is the problem?
• Design business-oriented training programs for scientists. • Lack of access to information about international markets, demand
patterns and specifications or modifications needed to facilitate entry.
2.2.1.5. ECOSYSTEM HUBS • Lack of knowledge-sharing by startups that already went global.

What are they? Why are they important? What should be done?
Physical proximity of ecosystem players has proven critical for the • Create guidelines to facilitate internationalization into selected
success of entrepreneurs. In fact, the evolution of entrepreneurship markets.
clusters globally is considered a successful course to a thriving • Develop a match-making mechanism to link experienced (former)
ecosystem. startups with global market seekers.
64/ 65/
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2.3. STRIVING TOWARDS

ENTREPRENEURIAL
EXCELLENCE
The pursuit of excellence by individual startups feeds into the overall
success of the ecosystem. This applies to both the general perception of
what it means to be an entrepreneur and the common knowledge base
and skill set of startup founders.

2 . 3 .1 . What is it? Why is it important?

ENTREPRE- Entrepreneurs by nature are at the very core of the ecosystem. Their
NEUR collective mindset is central to enabling the ecosystem to continuously
MINDSETS grow, evident in how entrepreneurship is perceived, as well as in how
entrepreneurs treat one another.

What is the problem?

• Entrepreneurship has experienced a lot of hype, which leads to unrealistic
expectations.
• This hype can lead individuals to found companies to secure quick-wins,
without the intent of creating businesses with long-term value.
• A “rockstar mentality” can lead to megalomania.
• Securing investments became an objective in itself, partly due to faulty
media coverage.
• Failure is not embraced.
• Lack of support for entrepreneurs who experience failure.
• Lack of emphasis on proactive and self-driven learning, alongside
technical training.
• Excessive focus on “being positive,” which leads to the absence of
problem-solving and hinders learning.
• Lack of awareness of potentially damaging lifestyle habits that can affect
sustenance.

What should be done?

• Demonstrate the true reality of being an entrepreneur through
entrepreneurship education and training.
• Mainstream failure stories in a way that changes the public’s perception
and boosts the sharing of experiences.
• Host a series of events where different ecosystem players present their
failure stories for everybody to learn from.
• Encourage proactive and self-driven learning from all support structures
and educational institutions.
• Create a “support system” for entrepreneurs / startup managers from
which they can receive technical and emotional support.
• Design training programs on risk management and building portfolios.
• Propose coaching solutions to help entrepreneurs develop habits that
help them succeed within and outside of their startups.
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116 116

2.3.2. What is it? Why is it important? 2 . 4 .1 . What is it? Why is it important?

ENTR- By nature, each and every founder is a central figure within their PUBLIC To ensure that entrepreneurship is anchored as one of the key pillars
EPRENEUR company. Their behavior and attitude have a critical impact on the SECTOR contributing to economic growth, the public sector needs to integrate
SKILL SET business. This is especially true during the early stages of a startup, a ROLE & startups in its plans. This is critical for advancing reform and for achieving
period during which the team often consists of co-founders or is directly COORDI- high synchronization across the different ministries and other public
managed by one or several co-founders. authorities.
N AT I O N
What is the problem? What is the problem?
• Overemphasis on sales as opposed to sound strategy development. • More than one governmental entity is mandated to help boost
• Focus on product / service development without having an overarching entrepreneurship.
vision for the business itself (i.e. building a product / service is equated
• Mandates of public authorities that directly or indirectly refer to
with building a startup).
entrepreneurship are not streamlined.
• Hopping between programs, like competitions, instead of actually building
the business. • Lack of exposure of already existing governmental initiatives.
• Startups often lack a thorough understanding of the markets / • Complexity of the current legal landscape.
environment they plan to operate in. • Current laws are at times conflicting.
• Lack of awareness of the different stages startups go through, • Navigating the current legal landscape is costly for entrepreneurs,
expectations at each stage and how to overcome challenges. especially at early stages.
• Lack of exposure to other ecosystems.
What should be done?
What should be done? • Establish / merge / strengthen entities with a clear mandate to advance
• Design training programs and / or guides and templates related to vision, entrepreneurship and coordinate with other public entities.
strategy and business development. • Increase government financial support, especially for impact-driven
• Establish a match-making mechanism to link complementary startups or startups which might otherwise face issues when raising private capital at
startups with relevant experts to share success stories. an early stage.
• Develop trainings exploring startup stages with respective challenges. • Increase exposure of governmental initiatives through an online platform,
• Organize exploratory trips to other ecosystems (e.g. Silicon Valley, Berlin, for example.
Lagos etc.). • Fine-tune existing laws.
• Develop a platform for basic guidelines with regards to legal and
regulatory matters.
• Push the government to offer startups subsidized legal services.

2.4. STRENGTHENING
THE ROLE OF
2.4.2. What is it? Why is it important?
PUBLIC- To successfully include entrepreneurship in the government’s long-
P R I VAT E term plans, it is important that the public and private sectors engage
SECTOR in a continuous dialogue to share insights, lessons learned and get

ENTREPRENEUR- DIALOGUE accustomed to each other’s dynamics.

What is the problem?

SHIP IN LONG-
• Lack of regular touch-points between key players from the public and
private sectors.
• Need for increased promotion of existing public-private activities and
boosting of both sectors’ initiatives.

TERM ECONOMIC •
What should be done?
Establish / merge / strengthen mechanisms that allow for regular and

PLANNING
meaningful public-private dialogue.
• Create an open channel between the ecosystem and the government.

For entrepreneurship to become one of the pillars of achieving

sustainable economic growth, it needs to become integral to all public-
sector planning activities and play an effective role at the intersection of
the public and private realms.
68 / 69/
116 116
Almost 50% of respondents
believe that the general
public is “slightly aware” of
the economic importance of
startups. Yet, a substantial
fraction of respondents
believes that the society
is “not at all aware”. This
highlights the importance of
raising societal awareness
on the economic
role of startups.

48% 29%
of respondents believe of respondents believe
that the general public that the society is “not
is “slightly aware” of the at all aware” of the
economic importance of economic importance of
startups. startups.

*Breakdown
of the survey's
answers:

Slightly
aware: 48%

Not at all
aware: 29%

Moderately
aware: 23%

ING LIVES
business success and failure. In fact,
entrepreneurship can be a powerful

3
tool to improve the overall standard of
living in a society. Startups achieve this
through developing innovative solutions to
society’s most pressing problems. Through
the products and services they provide,
startups capitalize on the opportunities
that arise to make individuals’ lives easier.
This is true in terms of the general mindset

P.70-P.75
they apply when doing business, most
evident through startups that focus on
sectors with immediate social relevance.
Indirectly, startups can also make a
substantial societal impact when it comes
to job creation, be it through direct hiring
or an increased demand for business
across the ecosystem’s supply chains.

3.1. CHAMPIONING •
•
What is the problem?
Novelty of the concept of human design experience.
Lack of experience in integrating human experience design in decision-

ENTREPRENEURSHIP making processes.

What should be done?

TO IMPROVE HUMAN
• Develop training sessions for investors / support organizations adopting
human experience design techniques.

EXPERIENCE 3.2. FOSTERING

To achieve long-term business success, startups need to focus on the
creation of long-term value. A guaranteed way to do this is to offer
solutions for a large number of people. This gives rise to the concept of
ENTREPRENEURSHIP
IN IMPACT SECTORS
“human experience design”, which is an approach to design with the aim
of developing solutions across a variety of different business functions,
with an overarching goal of enhancing the experience of the customer /
client / stakeholder being targeted.2 To achieve this, “human experience
design” needs to become central to all business processes. To ensure While a vibrant entrepreneurship ecosystem is one among several factors
business success, as well as social impact, it should be fostered within that contribute to higher levels of economic growth, the benefits of impact
the startup community and through the incentives developed by relevant entrepreneurship can have a more direct effect on society. Examples of
financial institutions and support organizations. impact startups include projects concerned with sustainable agriculture,
renewable energy, conservation, microfinance and basic services
3 .1 .1 . What is it? Why is it important? like housing, healthcare and education. A focus on these sectors can
ROLE OF THE Adopting human experience design in startups leads decision makers to materialize through the interplay of startups and financial institutions who
S TA R T U P raise the question: how do business functions and processes affect the have outlined impact-focused objectives, in addition to financial gains.
COMMUNITY experience of the targeted customer, and how can my company design
responses that improve this experience? This extends to the fundamental
question of how a startup’s core products and / or services - as a whole - 3 . 2 .1 . What are they? Why are they important?
affect the experience of the target group. PURPOSE- Purpose-driven startups echo the notion of social entrepreneurship,
DRIVEN which is defined as “the use of the techniques of startup companies
What is the problem? S TA R T U P S and traditional for-profit entrepreneurs to develop, fund and implement
• The improvement of human experience as a business approach has not solutions to social, cultural or environmental issues.” While all
been widely introduced to the startup scene. entrepreneurs can aim to benefit society directly or indirectly, purpose-
• Absence of technical experience to incorporate the business philosophy driven startups incorporate this objective in the mission of the organization,
in the fabric of a startup. propelling them to play a more central role in advancing the economy and
• Lack of quality standards for key products / services that can harm the in society as a whole.
target customer / audience.
What is the problem?
What should be done? • Lack of specialized support (e.g. incubators / accelerators / mentors)
• Design training sessions on the role of human experience in startups. tailored to the specific needs of purpose-driven startups.
• Compile best practice case studies. • Scarcity of financial support to help purpose-driven startups deal with
• Develop quality control checklists for different industries. higher upfront costs than other industries (e.g. in healthcare or education).

What should be done?

• Expand existing support structures (e.g. incubators / accelerators /
What are they? Why are they important mentors).
3 .1 . 2 . • Develop tailored financial solutions.
ROLE OF In order to integrate the concept of human experience as a guiding
PROPER principle in the entrepreneurship ecosystem, it is essential to create
INCENTIVES the right incentives. This is especially relevant in terms of financial and
support organizations. The value of human experience design, financially
3.2.2. What is it? Why is it important?
and socially, needs to be understood and fully integrated in key decision-
making processes. I M PAC T Impact investments are defined as “investments made into companies,
INVESTING organizations and funds with the intention to generate social and

2
UX ma g, 2 0 13. Ava ilab le at : h t t p s:/ / u xm ag .co m / art icles/ exp e r ie n ce -d e s ign -is -a-pe r s pe ct iv e -n o t -a-d is ciplin e
75/
116

3 . 3 .1 . What is it? Why is it important?

WITHIN Startups, when taken as a collective, can create a substantial number
S TA R T U P S of quality jobs through their own hiring flow. Such opportunities
primarily target qualified university graduates across different
disciplines. Startups can help alleviate the pressure of high
unemployment rates, specifically in this segment of the labor market.

What is the problem?

• Startups headhunt from one another, affecting the ecosystem
negatively.
• Unsuited behavior from startups has been reported when it comes to
contractual relationships with potential employees.
• Job seekers are not aware of potential jobs offered by startups.
• Job seekers do not have access to opportunities in startups.
• Startups mainly recruit from private universities at the expense of
qualified candidates from public universities (in Cairo and other
governorates).
• Employment conditions within startups need to be more standardized.
environmental impact alongside a financial return.” Certain actions can What should be done?
mobilize the required resources to boost social enterprises and / or startups • Create awareness on why headhunting from other startups is harmful to
that indirectly result in wide social impact. Impact investing is thereby the ecosystem.
observed across different asset classes and is inclusive to VCs. • Develop a redress mechanism where (potential) employees can report
misconduct.
What is the problem? • Strengthen existing recruitment platforms to connect startups to job
• Lack of awareness that impact investment can potentially be lucrative. seekers.
• Lack of experience in translating impact metrics into investment-relevant • Create awareness of the possibility and respective benefits of startup
data. employment for job seekers.
• Scarcity of domestic experience in impact investing. • Initiate a standard internship program across startups.
• Absence of coordination of already existing efforts in the field of impact • Host a series of events (e.g. hackathons, competitions etc.) for students
investing. from private and public universities.
• Target public universities through HR and recruitment platforms.
What should be done? • Development HR guidelines for startups at different stages outlining
• Carry out awareness sessions on impact investing for investors. minimum employment standards across all businesses, whether
• Develop a tool to make impact metrics suitable to drive investment registered or not.
decisions.
• Design trainings on impact investing.
• Build a platform to foster impact investing.
3.3.2. What is it? Why is it important?
AC R O S S For startups to operate and scale, they require a variety of different
input factors. This can range from minimal to extensive, depending on

3.3. FACILITATING JOB

THE
S U P P LY the industry and sector. As a result, the demand for such input factors
increases, possibly opening up new labor opportunities for both white-
CHAIN
and blue-collar job seekers.

CREATION THROUGH •
What is the problem?
Dependency by many Egyptian startups on input factors from abroad.

ENTREPRENEURSHIP
• Lack of hiring from outside of Cairo.
• Lack of employment that warrants decent work conditions for the local
blue-collar market.

Entrepreneurship should not be understood as the ultimate solution for What should be done?
• Develop a “Needs Map” based on the collective demands of startups at
unemployment, but it should be regarded as a means for directly or
different stages.
indirectly creating job opportunities, which takes place through: (a) the • Increase outreach to different governorates to find partners across the
jobs that startups create through their own hiring needs, (b) jobs that are value chain.
created on the back of a vibrant startup ecosystem, whereby an increase • Design programs to develop local capacities while safeguarding proper
in the number of startups leads to an increase in labor demand across working conditions.
various industries.
7 6/ 77/
Egypt
116 has the potential to become one
of the foremost entrepreneurship hubs 4. POSITION- 116

ING EGYPT AS
in the world. While further improvements
are key, the success recorded across

4
the Egyptian ecosystem to date is an
indication of a promising path. That
said, and despite the recent surge in the
AN ENTREPRE-
number of startups, the idea that Egypt
can emerge as a hub for entrepreneurs is NEURSHIP HUB
not fully anchored in society. In addition,
marketing Egypt as a potential focal
point needs to be pushed forward to

P.76-P.81
attract more investment and attention.

4.1. PROMOTING
• Lack of access to information and opportunities.
• Lack of access to networks.

What should be done?

ENTREPRENEURSHIP •
•
•
Promote women-led businesses.
Facilitate access to VC funds.
Create peer-to-peer support networks for women.

IN SOCIETY
• Build an awareness campaign targeted at male members of the
ecosystem to highlight challenges women face.

The extent to which entrepreneurship can be of value has not yet What is it? Why is it important?
been fully realized and / or accepted by Egyptian society at large. 4 .1 . 3 . Individuals aged between 25 and 34 years are more likely to become
While integration is improving, there is still a lot of room to promote YO U T H entrepreneurs over other age groups. The challenges they face are
the acceptance of entrepreneurship in general, and the pursuance of ENTREPRE- intrinsically linked to their age.
entrepreneurial activity within certain groups of society in particular. NEURSHIP
What is the problem?
• Entrepreneurship is not perceived as a viable way to enter the labor
4 .1 .1 . What is it? Why is it important? market but rather as a supplementary activity.
S O C I E TA L For entrepreneurship to thrive at the desired rate, it is important that • Entrepreneurship is a trend that young students jump into quickly without
AC C E P TA N C E society sees its activities as valuable. This is especially important for getting initial experience as undergraduates through campus activities or
OF ENTREPRE- young founders who, particularly in the early stages of doing business, internships.
NEURSHIP need the financial, logistical and / or emotional support of their families • Lack of access to information.
and friends, as well as their wider social circles. • Little access to networks.

What is the problem? What should be done?

• Lack of an understanding of how entrepreneurship can benefit the • Develop guidelines for different financial instruments and their potential
economy and the country as a whole. risks.
• Difficulty to identify the occupational prestige of entrepreneurs. • Encourage a “responsible entry” into the entrepreneurship scene, with a
• Perception that starting one’s own business is an irresponsible endeavor minimum level of previous experiences.
when compared to the option of having a stable job. • Establish support mechanisms for young high-potential entrepreneurs to
• Acceptance of innovation and novelty by society is rather low. enable them to reserve most of their focus for the business.

What should be done?

• Increase awareness of the role entrepreneurs can play to benefit the
economy and the country as a whole.

4 .1 . 2 . What is it? Why is it important?

4.2. PROMOTING EGYPT’S
FEMALE-
DRIVEN
ENTREPRE-
Female entrepreneurs face certain obstacles when starting their own
businesses as opposed to their male counterparts. The rate of women’s
participation in entrepreneurship in Egypt is much lower than global
ENTREPRENEURSHIP
POTENTIAL
NEURSHIP averages, and the gap between men and women in the entrepreneurship
sphere continues to widen. This must be examined in the context of Egypt
having a relatively high female enrollment rate in higher education in
general, and in science and engineering in particular. While women who
go on to establish high-growth startups challenge certain gender norms, To achieve higher levels of growth and enhance overall economic competitiveness,
this career path is perhaps exclusive to women who grew up in middle-
the Egyptian ecosystem needs to flaunt its entrepreneurship potential both locally
and high-income families, seeing as they typically face less pressure to
enter the traditional labor market, which makes entrepreneurship a more and internationally. Eventually, this would create mutually reinforcing levels of
conceivable career option. attention and interest.

What is the problem? 4 . 2 .1 . What is it? Why is it important?

• Access to funding at the VC level remains challenging, although seed- MEDIA Media has a critical role to play when it comes to the promotion of entrepreneurship.
funding is easier for women due to an increase in women-centric Telling the right stories can create a lasting impact on how certain segments of
programs. the market, and society as a whole, perceive entrepreneurship, both in terms of
• Familial obligations can prevent some women from starting their own
businesses.
8 0/ 81 /
116 116

What is the problem?

• Lack of outreach activities.
• Absence of cohesive branding and storytelling.

What should be done?

• Carry out efforts to involve international players in entrepreneurship
activities in Egypt.
• Develop a local startup guide for foreign investors.
• Develop an international entrepreneurship promotional campaign.

accepting it as a career path and embracing new ideas it might push

forward. The media can also play a role in boosting customer and
investor confidence in startups.

What is the problem?

• Lack of Arabic coverage of startup activities.
• Underreporting of the realities and complexities of entrepreneurship.
• Dearth in documented lessons learned / tips for future founders.
• Overemphasis on a handful of success stories.
• Lack of attention to the role startups play in offering solutions to social
problems.
• Founder- / CEO-centric coverage.
• Overemphasis on tech startups at the expense of other industries.

What should be done?

• Increase entrepreneurship-related content in Arabic.
• Create an Arabic glossary of technical entrepreneurship terminology.
• Tell more nuanced stories about the industry.
• Report on lessons learned / tips for future founders.
• Build a directory of the stories that have not been reported.
• Document and communicate more stories that link entrepreneurship to
social problems.
• Diversify success stories so they are inclusive of different age groups,
genders, industries and geographical locations.
• Tell more stories that spotlight non-tech and purpose-driven startups.
• Report on the experiences of startup staff across all positions.
• Cover current trends and new products / services in the market to
advance startups’ performance and increase linkages between startups
and market needs.

4.2.2. What is it? Why is it important?

I N T E R N A- By putting Egypt in the international spotlight, more investors,
TIONAL multinational corporations and / or support organizations are likely to be
PUBLIC attracted to the entrepreneurship ecosystem, directly affecting growth
R E L AT I O N S and diversity.
8 2/ 83 /
Entrepreneurship
116 can only thrive in an
environment that empowers the private 5. FOSTERING 116

sector. This directly relates to legal and

regulatory matters. Respective policy AN ENABLING

5
frameworks have a decisive impact on
the overall business environment and
on startups in particular. In fact, certain
LEGAL AND
interventions that are designed to spur
overall economic growth can have a REGULATORY
negative effect on early-stage businesses3.
Therefore, a close alignment between such ENVIRONMENT
frameworks and a genuine consideration

P.82-P.93
of startups’ needs has to prioritized.

Authors’ note: Given Egypt’s

ever-evolving regulatory and
legal landscape, this section
will need to be frequently
reviewed, especially after the
new SMEs law is issued.

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8 4/ 85/
116 116

5.1. LEGAL
• Lack of awareness about the different corporate models available for
startups.

What should be done?

Legal frameworks have a critical impact on entrepreneurship as • Ensure startups are specified in state laws.
they define the overarching rules of the game. The law can boost • Lobby for startup-specific incentives.
entrepreneurship by creating new windows of opportunity for • Recognize convertible loans by law.
entrepreneurs through incentivizing, de-regulating economic policy, • Increase awareness of the different legal forms available for startups,
protecting property rights and enforcing contractual obligations. including their benefits and respective risks.
• Ensure the translation of legal stipulations into everyday regulatory
practice through the streamlining of relevant processes and
While this may apply to all laws regulating the economy, at both the
procedures, as well as the clear mandating of respective authorities.
macro- and micro-level, certain laws are of particular importance to
startups. In Egypt, this pertains to the investment and companies laws.

5 .1 .1 . What is it? Why is it important? 5 .1 . 2 . What is it? Why is it important?

INVESTMENT The new Investment Law No. 72 of 2017 was ratified on June 1, 2017, C O M PA N I E S The Companies Law No. 159 of 1981 regulates all investment in sectors
L AW after Parliament passed it a few weeks earlier. The new law repeals the L AW that are not covered by the Investment Law, and investors can choose
Investment Guarantees and Incentives Law No. 8 of 1997. It essentially which they want to be incorporated under. The Companies Law does
targets the promotion of fair competition, equal treatment of all not aim at investment promotion through incentives and guarantees,
investors, and the fostering of entrepreneurship and SMEs. Furthermore, however. It essentially prescribes all corporate rules and regulations,
it hopes to tackle antitrust practices and to secure government regulates management and dictates fiduciary duties, fiscal policies and
transparency and the stability of state-sanctioned regulations. companies’ corporate requirements.

The law includes the establishment of new public-sector entities and The Companies Law specifically outlines the governing rules and
the development of new mandates for existing bodies. For example, it regulations pertaining to two of the most commonly used corporate
positions the General Authority for Investment (GAFI) as the only liaison structures for startups: joint stock and limited liability companies.
between the government and investors, labelling the authority as the
“Investor’s Service Center.” This comes amid problems with the current What is the problem?
system, which sees investors deal with more than one authority when • Lack of freedom for shareholders to organize their companies.
setting up a single investment project. • Lack of adequate transparency and disclosure requirements.
• Difficulty to change the legal structure of companies after initial
The new law warrants the establishment of “Accreditation Offices”, incorporation.
private sector providers licensed by the GAFI to assist and represent • Complexities resulting from having more than one law regulate
investors in official, state-related matters, like licensing and issuing businesses in Egypt.
permits (excluding licenses required for incorporation). Furthermore, the
new law aims to establish new arbitration centers - called “Grievance What should be done?
Centers” - to facilitate disputes. • Further strengthen shareholder rights.
• Develop clear transparency and disclosure requirements.
In terms of process facilitation, the new law promulgates, amongst • Ease corporate restructuring.
other measures, the introduction of an e-incorporation system. It also • Issue a unified corporate law.
defines a maximum timespan of one business day for authorities to
respond to incorporation applications.

The law also introduces several guarantees and incentives for

investing, which are available for both foreign and domestic investors.
Incentives include tax exemptions and special custom rates, as well as
specific incentives related to geographical locations and a number of
strategically important activities.

What is the problem?

• The law does not define and/or address startups specifically.
• Amendments are still not clear to all entities involved, and translating
the law into action has been deemed slow.
87/
116

It takes up to 14 days

1 4 to register a business
in Egypt*
13 *The total number of days required for
married men to register a firm. The

0 11 1 2
measure captures the median duration
that incorporation lawyers indicate is
necessary to complete a procedure with
minimum follow-up with government
agencies and no extra payments.

1 2
9 1

3
45
678
5.2. REGULATORY
An environment where regulatory law is translated into practice is a sound
space for an entrepreneurship ecosystem to thrive. In fact, the regulatory
backdrop influences entrepreneurial decision-making at all stages of a
startup’s lifecycle. An environment that is perceived as too complex or
too costly to navigate can deter potential entrepreneurs from establishing
their businesses. Therefore, it is pivotal to cultivate a regulated landscape
which facilitates entrepreneurship during all its stages. Each of these stages It takes up to 8
procedures to register
78
present different hurdles. Therefore, the Manifesto suggests action points
for the three main business stages: (a) setting up a business, (b) operating a a business in Egypt*

6
business and (c) closing down a business.
*The total number of procedures
There are no clear-cut boundaries between each stage, so the above required for married men to register
a firm. A procedure is defined as any
categorization is adopted to facilitate discussion. It is worth noting that

345
interaction of the company founders
businesses will not necessarily go through all of these stages and still be with external parties (for example
considered a startup. However, the defined stages remain essential in the government agencies, lawyers, auditors
specific context of startups, as they influence potential and early-stage or notaries).
entrepreneurs in their initial decision-making and when starting and / or
scaling a business.

2
5 . 2 .1 . What is it? Why is it important?

1
SETTING UP While there is no clear-cut distinction between regulatory dimensions
A BUSINESS pertaining to setting up a business and actually operating it, the following
issues are most relevant to the early stages of a venture, and will thus be
discussed as part of this section:
• Registration
• Operating licenses
• Land allocation
88/ 89/
116 116

What is the problem? - On-the-ground custom clearance practices are described as unclear and
• Limited knowledge on the part of entrepreneurs about the procedures lengthy, causing significant delays.
and documents required for registration. - Custom clearance practices seem to differ between ports.
• Lack of awareness about the legal implications of different corporate - Products have to undergo the entire clearance procedure irrespective
structures. of their value (with the exception of goods being destined for the free
• Need for upfront issuance of operating licenses which could hamper the zones).
registration process. - Customs documentation that is related to customs transactions
• Difficulty renewing the registry or changing the type of activity listed at conducted through “cash against documents” can only be exchanged in
the onset. specific banks.
• Formalization of already existing businesses is considered less favorable - The current item classification is rigid, disregarding newly introduced
than remaining informal due to retroactive tax payments and additional products and technologies.
costs that are incurred once a formal relationship with public authorities is
established. • Free market competition:
• Insufficient regulation of incorporation procedures, which have been - Fair competition is compromised through monopolies and the practice of
described as either over- or under-regulated, leading to regulatory price-fixing.
practices becoming arbitrary or unintended incentives emerging.
• Intellectual property rights:
What should be done? - Lack of awareness of the functionality of intellectual property and non-
• Examine the overall design, as well as interdependencies, between all disclosure agreements.
required steps to set up a business.
• Develop a standardized procedure with templates that startups can use. • Tax administration:
• Develop guidelines outlining the different corporate structures relevant to - Past taxes have to be paid retroactively upon formalization of the
startups with their legal implications. business.
• Provide an independent legal consulting service at the incorporation - Small and micro-enterprises have to pay taxes presumptively; taxes are
stage. estimated independent of kept books.
• Develop guidelines for setting up a business, including a list of the all
required documents. • Human resources:
• Establish an independent and effective private sector-led redress - High social insurance requirements are difficult for startups to adhere to.
mechanism. - Current regulations enforce a partially antiquated understanding of what
constitutes “employment”: there is a need to align regulatory frameworks
with the ever-changing modalities of employment.
- Lack of standard contract templates that are designed in accordance with
5.2.2. What is it? Why is it important? the applicable jurisdiction.
O P E R AT I N G While there is no clear-cut distinction between the regulatory dimensions - Insufficient distinction between employment and freelance work in non-
A BUSINESS pertaining to setting up and operating a business, the following issues are staff / consultant contracts.
considered relevant to the latter, namely the second business stage. - Hiring foreigners is cumbersome, especially individuals with refugee
• Dispute settlement status.
• Contract enforcement
• Customs clearance • Geographical disparities
• Free market competition - Regulations and regulatory practices are not harmonized across
• Intellectual property rights governorates with significant disparities in terms of the number and
• Tax administration complexity of required procedures.
• Human resources - Regulations and regulatory practices have been described as centralized
• Geographical disparities in Cairo.

What is the problem? What should be done?

• Dispute settlement: • Dispute settlement:
- The court system is running at overcapacity and alternative arbitration - Carry out wider introductions of arbitration and / or mediation
mechanisms are not sufficiently available or accessible to entrepreneurs. mechanisms within the legal landscape.
- Arbitration judgments - especially ones issued abroad - are not always - Uphold judgments, independent of whether they have been reached
respected. within Egypt or abroad.

• Contract enforcement: • Contract enforcement:

- Contracts are perceived as difficult to enforce; corresponding - Establish small-claims courts or simplified procedures for smaller claims.
mechanisms are described as complex, time-consuming and cost- - Introduce a case management system.
intensive.
- Weak enforcement of quality and safety standards leads to high degrees • Customs:
of vertical integration and / or high import dependencies. - Clarify customs procedures and items’ classifications and make them
publicly available.
• Customs: - Establish an electronic system for the filing, transferring, processing and
W

90/ 91 /
116 116

Lebanon
133
Ease of "Doing
Business" in
Egypt (World
128
Egypt

Bank, 2018) in
comparison to
the ranking of
other regional
key players.
Saudi Arabia
93

(Total
number of
countries:
190.)

-
exchanging customs information.
Establish a single window e-system across all entities directly or
*Breakdown
of the survey's
How do you perceive
indirectly involved in trade. answers: the ease of doing
-
-
Develop a risk-based profiling system.
Establish a special custom station for all startup-related imports / exports
business when it
at major ports. Moderately comes to setting up a
clear: 38%
-
-
Conduct a periodical update of all customs classifications.
Design a clear and publicly communicated process related to security
business? (in terms of
screenings required for imported and exported products. Slightly required documents)
- Establish an independent and effective private sector-led redress clear: 21%
mechanism.
Not at all
• Free market competition: clear: 19%
- Establish an independent supervisory body and / or strengthen existing
efforts. Very clear: 17%

• Intellectual property rights: Not sure: 5%

- Raise awareness about intellectual property rights and consequences of
breaching them.

• Tax administration: 40
- Abolish the retroactive tax system.
- Introduce a tailored tax system for startups with respective incentives,
bearing in mind the need for a distinction between small businesses and
high-growth startups.
35
• Human resources:
- Tailor the current social insurance schemes to the needs of early-stage
startups or develop a phased approach.
- Conduct an in-depth study into non-traditional employment models and 30
tools to regulate them.
- Develop a standardized employment contract template for startups, to be
used for full- and part-time employees.
- Develop a freelance contract template.
- Facilitate recruitment of non-Egyptians, especially individuals with 25
refugee status.

• Geographical disparities:
- Harmonize and respect all key regulations and respective practices across all
governorates. 20
- Establish an independent and effective private sector-led redress mechanism
for startups facing differential treatment across governorates.

15
5.2.3. What is it? Why is it important?
C LO S I N G Statistically, a large number of startups ultimately fails. Therefore, the
A BUSINESS regulations and regulatory practices that prevent insolvency are of
critical importance for entrepreneurs. 10
What is the problem?
• Mitigating insolvency is a timely and cost-intensive process.
• Liquidation is often favored over company restructuring.
• Announcing bankruptcy can incur grave legal and political 5
consequences, including repealing one’s right to vote.

What should be done?

• List exceptions for insolvency procedures.
• Encourage company restructuring as an alternative solution when 0
appropriate. Not at all Slightly Moderately Very Not sure
94/ 95/
Not
116 mere words, but real actions...

As for Egypt, initiating change should

BENCHMARKING 116

not mean reinventing the wheel. Instead,

the localization of international best
practices to fit the Egyptian experience
should be sought after. Thereby,
it needs to be ensured that reform
efforts match and are shaped by local
needs and priorities, as determined
by a wide array of stakeholders.

The next section displays a selection

of entrepreneurship-related reforms
as implemented by other countries.

DATA SHARING STARTUP STOCK

INITIATIVE MARKET
Source: https://www. Adopted from the European Union (EU) Source: WAMDA SSX Adopted from Curacao
computerweekly.com/ (2013)
news/450416700/EU- EU Horizon (2020) funded a program that aims at encouraging large corporations https://www.wamda.
The Startup Stock Market (SSX) offers securities exchange services like brokerage
backed-Data-Pitch-fund- to cooperate and support SMEs, as well as startups to form a collaborative data- com/2013/06/a-global- and listing advisory. These services give entrepreneurs the edge of attracting
to-encourage-information- startup-stock-exchange-
sharing-between-startups- sharing partnership between them. The three-year program is called “Data Pitch”. platform-just-launched-
expertise and international investors to buy shares of their small- and medium-
and-enterprises-launches Moreover, the program is designed to give SMEs and startups the chance to work is-it-a-good-bet-for-arab- sized companies from the public stock exchange.
startups
closely with large corporations who have experience and can share best practices
with them to help with the utilization of data, information and statistics. Data Pitch
feeds 50 startups and SMEs with a share of EUR4.8 million to support and sustain
the growth of their businesses.
REGULATING
CROWDFUNDING
BANK STARTUP Adopted from Dubai / UAE
Source: DFSA: Dubai
financial services authority
(2017) The United Arab of Emirates (UAE), and specifically Dubai, has been the leading
ACCELERATORS https://www.dfsa.ae/
MediaRelease/News/
DFSA-launches-
amongst the Gulf countries in designing a formalized scheme for loan and
investment crowdfunding platforms. Crowdfunding is considered one of the most
Source: Start US Connect Adopted from Hungary Crowdfunding-Framework important sources of financing for startups. New regulations and policies have
https://connect.startus.
cc/otp-bank-nestholma- OTP Bank Startup Accelerator is a compressed three-month acceleration program been introduced by the Dubai Financial Services Authority (DFSA) to allow SMEs
fintech-accelerator/#how for startups operating in the fintech industry. The acceleration program is designed and startups to use crowdfunding.
to finance startups, making them ready to compete internationally. In addition, it
funds startups with up to $1 million, focusing on six fintech areas:
1) Banking data
2) Banking for family
3) Banking automation
4) Collaboration
CROWD-SOURCED EQUITY
5) Tech-driven change
6) SME administration
FUNDING (CSEF):
Source: Legal Vision First Model: Adopted from USA
https://legalvision.com.
au/comparing-crowd- Crowd-sourced equity funding gives startups the ability to sell their securities
sourced-equity-funding- directly to retail investors through online CSEF portals. However, there are some
regimes/
restrictions placed on these portals, like investments. Investments are limited to
INCENTIVIZING INVESTMENTS only “accredited investors” who meet certain criteria like holding certain assets or
having a certain income level.
IN TECH STARTUPS
Source: PWC China (2017) Adopted from China Second Model: Adopted from New Zealand
https://www.pwchk.
com/en/china-tax- A new tax policy has been announced by the Chinese Ministry of Finance in April The CSEF model of New Zealand was established in 2013. At its beginning, it
news/chinatax-news- 2017. It aims at supporting Chinese tech startups that rely heavily on research and limited startups to raise $2 million maximum within a year. After that, the Financial
may2017-15.pdf
development (R&D) at the seed stage and / or early stage while at the same time Markets Conduct Act 2013 was subject to some changes, one of which affected
being aligned with China’s innovation-driven strategy. According to Circular 38, if the easiness for startups to crowdfund. In addition, these changes did not put any
investors want to invest in tech startups using equity investments made by VCs, 70 restrictions on the amount of money investors can invest in CSEF securities.
percent of the investment amount can be used to compensate the taxable income
amount paid. One of the major benefits of Circular 38 is that it lets corporates and
individual investors “enjoy similar tax incentives”.
98/ 99/
116 116

THE SANDBOX INCENTIVIZING SUPPORT

FRAMEWORK STRUCTURES
Source: Adopted from Bahrain Source: Singapore Com- Adopted from Singapore
Central Bank of Bahrain pany Incorporation
http://www.cbb.gov.bh/ A “Sandbox” is defined as “a safe space in which businesses can test innovative https://www.singapore-
Startup SG Accelerator is a scheme that encompasses and acts as an umbrella for
assets/Whitepapers/ products, services, business models and delivery mechanisms for a short period, companyincorporation.sg/ gathering all forms of support that can be offered for startups in Singapore. It is
Regulatory_Sandbox_ blog/13-startup-schemes-
Framework.pdf without immediately incurring all the normal regulatory and financial and-grants-in-singapore/
designed to help business incubators and accelerators working in strategic growth
consequences of engaging in the activity.” In the Sandbox, financial products and sectors - with either the provision of funds or non-financial services - to improve
/ or services that are based on new technologies can be tested without the hassle the programs offered by startups and guarantee their success. Funding support
of being involved in heavy regulatory procedures and licensing. In case an idea includes part of the operating expenses like the salaries paid to incubation teams,
is successful, it then moves to the next stage which includes applying for relevant mentors and experts hired to assist startups. In addition, this scheme includes the
licenses. covering of expenses with regards to the development of programs that aim at
helping startups develop new products / services, to further develop existing ones,
to increase the ability to access capital and / or to enhance market accessibility.

INTEGRATING ENTREPRENEURSHIP IN
THE NATIONAL EDUCATION STRATEGY DEVELOPING
Source: European
Commission:
Adopted from Denmark STARTUP SKILLS
Entrepreneurship Education In 2009, the Danish Ministry of Culture, Education, Economic and Business Affairs
at School in Europe Report and the Ministry of Science, Technology and Innovation agreed on a partnership Source: Singapore Compa- Adopted from Singapore
and Strategy for Education ny Incorporation
and Training – Denmark to develop a strategy for education and training in entrepreneurship. This Danish https://www.singapore- Startup SG Accelerator also includes the Innovation and Capability Voucher
(2009) strategy explains how competitiveness in the future will be changed to the better companyincorporation.sg/ (ICV), which grants startups a voucher of $5000 to be spent on developing and
http://eacea.ec.europa. blog/13-startup-schemes-
eu/education/eurydice/ through introducing entrepreneurship training and education in educational and-grants-in-singapore/ upgrading their business capabilities and operations. This covers, for example, the
documents/thematic_ institutions and granting students the ability to come up with new ideas, seize contracting of consultants in several areas like productivity, innovation, HR and
reports/135EN.pdf
market opportunities and to be entrepreneurial through using the Danish financial management. Every startup has a maximum number of granted vouchers
educational system. which should not exceed eight vouchers, while each project they are working on
The Danish foundation for entrepreneurship founded in 2010 aims at making should not take more than six months.
sure that a big number of students at all levels of the education system have the
chance and the ability to participate in entrepreneurial activities. Consequently,
entrepreneurship will be part of their education system at all levels.

VENTURE
CUP
BRINGING TALENT Source: Venture Cup Adopted from Sweden
BACK HOME
(1998)
http://www.venturecup.se/ A non-profit organization leads the national competitions called Venture Cup.
en/home/ Venture Cup attracted more than 27,000 entrepreneurs over the years. When
Source: Telendid Koju- Adopted from Estonia startups enter the Venture Cup competitions, they have the chance to win
Estonian Chamber of SEK500,000. Moreover, they get the opportunity of networking and accessing
Commerce (2010) The Estonian government started a new initiative in 2010 to bring talent back
https://www.koda.ee/et/ home. This initiative is called the “Talendid Koju” program. The aim of this market opportunities.
meist/talendid-koju
program is to attract Estonian talent back home by connecting them to Estonian
entrepreneurs. Also, the program is designed to utilize the experience of talented
Estonians who were abroad in discovering market opportunities.
1 0 2/ 103/
116 116

CORPORATE EXPORT
STARTUPS STARS SUPPORT
Source: Silicon Alleee Adopted from the EU Source: Indian Economic Adopted from India
(2016) Times (2016)
https://medium. Nesta collaborated with the Startup Europe Partnership to form “Corporate Https://economictimes.
The Indian Institute for Foreign Trade (IIFT) designed an initiative to help startups
com/silicon-allee/ Startups Stars”. Corporate Startups Stars annually ranks “the most startup- indiatimes.com/arti- export. It is called “Knowledge for Innovation in Trade and Technology for
corporate-startup-stars- cleshow/53272553.
promoting-best-practices- friendly corporates in Europe”. It aims at connecting startups with corporates, cms?utm_source=contento-
Entrepreneurial Startups” (KITTES). KITTES aims at supporting Indian micro-, small-
of-corporate-startup- thereby highlighting the important benefits deriving from such partnerships and finterest&utm_medium=tex- and medium-sized startups in their early stage until they expand globally and
collaboration-eca19f697ef t&utm_campaign=cppst
spotting successful figures that can be role models to others. Furthermore, it gives enter foreign markets.
incentives to behavioral changes between big businesses.

GOVERNMENTAL PLATFORM
GOVERNMENT-LED ENTREPRENEUR- FOR STARTUPS
SHIP SUPPORT CENTERS Source: Startup India Adopted from India
https://www.startupindia.
Source: Dubai SME Adopted from Dubai gov.in/index.php The Indian Ministry of Commerce and Industry runs a state platform called “Startup
Bloomberg (2002)
https://www.bloomberg. Dubai SME is a governmental organization that works on developing and India”. This platform helps startups obtain benefits from the government like tax
com/research/stocks/ encouraging the private sector to boom. It also provides many services like exemption on income and capital gains and credit guarantee schemes. In addition,
private/snapshot.
asp?privcapid=106296180 funding and advisory, as well as support services for young entrepreneurs this platform grants startups the ability to access the latest news about the support
and http://www.sme.ae/ coming from more experienced entrepreneurs. It helped in the launch of more initiatives run by the government and the private sector. The website includes all
English/aboutus/Pages/
default.aspx than 4,000 projects and it provided consultancy services to more than 23,000 incubators, accelerators, funds and other entities. Also, it facilitates the interaction
Emirati entrepreneurs. Dubai SME also gives training sessions to 155 governmental with relevant governmental entities through providing information about required
organizations from around the globe to improve public services. documents and explaining the main procedures.

DIGITAL IMPACT
MARKETPLACE INCUBATOR
Source: Australian Adopted from Australia Source: Impact Incubator Adopted from Hong Kong
Government: National https://www.socialinnova-
Innovation and Science Digital Marketplace focuses on the digitalization of the procurement process in the tion.org.hk/en/about Impact Incubator is a social enterprise incubator which acts as an intermediary for
Agenda government sector. Moreover, it aims to achieve digital services transformation and the Social Innovation and Entrepreneurship Development Fund (SIE). It supports
https://www.innovation.
gov.au/page/digital- focuses on the simplification of processes for startups and SMEs to enable them social entrepreneurs, as well as social intrapreneurs, who work in NGOs or the
marketplace to engage with the government. First and foremost, Marketplace gives suppliers a private sector.
chance to pitch their innovative ideas to the government.
104/ 105/
116 116

GOVERNMENT-LED IMPACT HUMAN RESOURCES:

INVESTMENT INITIATIVE STARTUP VISA
Source: Australian Govern- Adopted from Australia Source: Startup Estonia Adopted from Estonia
ment- Australian Innovation http://startupestonia.ee/
System Report About $20 million have been allocated by the Australian government as visa/ The Estonian Startup Visa is issued for Estonian startups who want to acquire
https://industry.gov.au/Office- a cornerstone investment to launch the establishment of Social Enterprise talent from abroad, as well as for non-EU entrepreneurs who are willing to start
of-the-Chief-Economist/
Publications/Policy/Austra- Development and Investment Funds (SEDIF). SEDIF are intended to increase the or operate in Estonia. The condition is that the respective business model is
lianInnovationSystemReport/ funding sources and capital accessibility for startups. They also aim at enabling innovative and potentially generates global growth. This visa for entrepreneurship
AISR2011/chapter-5-pub-
lic-sector-and-social-inno- “the development of financial products and related capacity building for Australian can be issued for up to one year and can be extended for up to another 183 days.
vation/government-initia- startup and growth-stage social enterprises”, and to maximize the advantage of
tives-that-support-social-inno-
vation-and-entrepreneurship/ additional investment coming from corporates and the philanthropic sector.
index.html Source: Startup Adopted from Amsterdam
Amsterdam
https://www.iamsterdam. The Netherlands is taking a different approach in issuing a Startup Visa by
com/en/business/ requiring an application process that involves two entities. To obtain the visa, an
startupamsterdam/i-am-
talent/startup-visa entrepreneur needs to find a business facilitator to provide him with support in

ENTREPRENEURIAL operational management, marketing, research and investment acquisition. The

business facilitator chooses entrepreneurs based on their ideas and business
PERFORMANCE OF A COUNTRY models. If the entrepreneur is chosen by the business facilitator, he / she obtains
the visa for up to one year. However, the visa can be extended as long as he / she
Source: Daily Monitor Adopted from Uganda satisfies the standard requirements put by the Dutch government.
http://www.monitor.
co.ug/Business/Prosper/ The Global Entrepreneurship Monitor (GEM) report has ranked Uganda as one of
Funding-troubles-Uganda- the most entrepreneurial countries in the world. It upholds the highest rate of youth
tech-start-ups/688616- Source: Government of Adopted from Canada
4204508-5it1nlz/index. entrepreneurs with 55.6 percent of the respective population being involved in Canada (2018)
html creating new businesses or joining established ones. https://www.canada.ca/ Similar to the Netherlands, an entrepreneur must be supported by a designated
en/immigration-refugees- organization to issue a Startup Visa. The designated organization can be a VC
citizenship/services/
immigrate-canada/start- fund, an angel investor group, or a business incubator in which the startup is
visa/eligibility.html accepted and enrolled.
http://www.
nearshoreamericas.com/
canada-to-launch-startup-
EASIER visa-program-formally/

REGISTRATION
Source: Tahseen, Kuwait Adopted from Kuwait
SMART
(2017)
https://tahseen.kdipa.gov. A new law has been created by the Kuwaiti government to regulate and ease the PETITION
kw/en/record-2/ process of launching persons’ companies. This now exclusively happens at the
One-Stop-Shop Department (OSS). The department works on receiving, processing Source: Dubai Courts - Adopted from Dubai / UAE
Government
and completing the required applications needed to establish all types of persons’ http://www.dubaicourts. In order to facilitate court proceedings for startups, the UAE has introduced “Smart
companies. This process takes a maximum of three working days, while issuing the gov.ae/portal/page/portal/ Petition”, which is defined as “an interactive and integrated application offering
dc/Smart%20Petitions
Commercial Licenses takes up to five working days. a set of services which, collectively, are intended to automate and facilitate the
process related to submittal, review, follow-up, inquiry, payment of fees and
decision-taking”.

BANKRUPTCY
LAW
Source: Arabian Business Adopted from Dubai / UAE
http://www.
arabianbusiness. The UAE has launched a new Bankruptcy Law that aims at lowering risk for
com/decoding- startups. This includes permitting entrepreneurs to protect themselves if they are
legal-framework-for-
entrepreneurs-in- not able to pay their debts and giving debtors the opportunity of restructuring their
uae-666321.html debts.
106/ 107/
116
CITATION 116

1
WEF, 2 0 16 . Ne w Mod els fo r E n t rep ren eu rsh ip. Availab le at: ht t p:/ / v z / n e w -m o d e ls -fo r -e n t r e pr e n e u r s hip/ e xe cu t iv e -s u m m ar y / 1
W E F, 20 1 6 . Ne w M o d e l s f o r E nt r e p r e ne ur s h i p. Av a i l a b l e a t : h t t p : / / r e p o r t s .w e f o r um.o r g / ne w - mo d e l s - f o r - e nt r e p r e neursh i p/exec uti ve- summa ry/
2
UN Gl oba l C ompa c t , Availab le at : h t t p :/ / b reakt h ro u g h .u n g lo b alco m pact .o r g/ b r e akt hr o u gh-b u s in e s s -m o d e ls / co llab o r at iv e -e co s y s t e m / 2
U N G l o b a l C o mp a c t , Av a i l a b l e a t : h t t p : / / b r e a k t h r o ug h . ung l o b a l c o mp a c t .o r g / b r e a k t h r o ug h - b us i ne s s - mo d e l s / c o l l abora ti ve- ec osystem/
108/ 109/
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* U na va i l a bl e s our ce
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116 116

T H E STA R T U P M A N I F E ST O C O M M U N I T Y Ahmed Bastawy Mai Abaza Zeina Mandour

I S A R E F L E C T I O N O F T H E I N I T I AT I V E ' S ICE Alex Publisist INC. Cairo Angels
R E A L VA LU E , F O R T H E M A N I F E ST O Ayman Shehata Amr Hareedy Abdelqader Ahmed
IS BUT AN UNPURPOSED DOCUMENT Rehla Levari Almaqarr
W I T H O U T I T ’ S D E D I C AT E D C O M M U N I T Y.
Suzan Salem Lara El kalamawy Natalia Boulos
T H E Y A R E C O L L E C T I V E LY TA K I N G GIZ KarmSolar WeAccept
T H E I N I T I AT I V E F U R T H E R , A N D
Marwan Nabil Sandra Farid Tamer Taha
I M P L E M E N T I N G I T S K E Y AC T I O N P O I N T S
Agrimatic Acumen Consulting Yomken.com
T O R E AC H A N U LT I M AT E G O A L O F A
D E V E LO P E D STA R T U P E C O SY ST E M F O R Salma El Sayeh Mohamed Ismail Sally Mansour
Ahead of the Curve Water Consulting Nahdet El Mahrousa
ALL.
Dalia Said Mostafa Abd El-fattah Ahmed Zahran
H E R E A R E S O M E W E L L- D E S E R V E D EL Re7la USAID KarmSolar
R E G A R D S F O R O U R I M P L E M E N TAT I O N Maya El Boghdady Dalia Abdallah Bahy Abouelezz
PA R T N E R S . Nahdet El Mahrousa GIZ Kijamii

Reham El-Masry Eslam Youssef Salma Gaafar

T H A N K Y O U, E C O SY ST E M C H A M P I O N S . Furnwich Estasharah GIZ

Hoda Hammad Samuel Abdel Malak Sahar Mounir

Makinah RiseUp Nile university

Sara Abdelhamid Eman El-Koshairy Amr El Abbassy

El Re7la AlMakinah MSMEDA

Sherif Ashraf Radwa Khater Ali zewail

Almaqarr accelerate Chaino

Ameer EL Sherif Muhammad Abu Elgheit Amira Hossam

Wuzzuf Tafra Collective Routes
Together, we want to make entrepreneurship Farah Baki Abdelhameed Sharara
in Egypt thrive. Join Us! The Greek Campus RiseUp

WWW.STARTUP-MANIFESTO.ORG // Aliaa Ibrahim Emily Renny

[email protected] GIZ WeAccept
The Startup Manifesto is a roadmap for change.
Its ultimate objective is to design a stronger, more
sustainable and collaborative landscape for
entrepreneurship in Egypt. This document is built
upon key action points for reform and proposes
concrete solutions for the way forward.
It is the foundation for an on-going and hands-on
reform movement.

This first edition of the Startup Manifesto was

32 conversations with ecosystem key players,

5 review sessions with a total of 59 participants,
2 ecosystem meetings with a total of 87
participants,
1 ecosystem builder retreat over three days with a
total of 60 participants
and an in-depth literature review.

1ST
ED.
2018

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