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It's difficult for youth in Egypt to imagine becoming entrepreneurs. Endeavor can show them that nothing is impossible.
Endeavor Egypt was launched in 2008 and hosted its first International Selection Panel in 2010. One of the oldest nations in the world, Egypt has always had a culture that places great value on stable public-sector jobs. In recent years, however, cultural perceptions have been changing as the Egyptian government has committed itself to deregulation and privatization within the Egyptian economy. This change, coupled with the fast-growing penetration of the Internet and satellite TV, means that Egypt’s young generation is now following the success stories of famous entrepreneurs abroad. Increasingly, they are also eager to follow in the footsteps of these role models.
Although Egypt’s fiscal laws and procedures regulating start-ups are still complex and challenging, the Egyptian government’s fight against unemployment now includes taking steps to erode these barriers and encourage more investment in the private sector. This, in turn, paves the way for an increase in high-impact entrepreneurial activity.
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