Mena social entrepreneurs inspired by boot camp

A five day social entrepreneurship boot camp concluded in Cairo recently with twenty five Egyptian hopefuls completing it. The camp is the first in a series of five training sessions to take place in the coming months with more expected in Jordan, Saudi Arabia, the United Arab Emirates and Lebanon. The camp is designed to create a regional network of social entrepreneurs who are equipped to build sustainable social businesses.

Boot camp gives boost to Mena social entrepreneurs

doha

Twenty-five Egyptian social entrepreneurs concluded a five-day social entrepreneurship boot camp in Cairo recently.

Organised by Entrepreneurship with Impact Ventures (EWIV), a subsidiary of Ahead of the Curve founded, in partnership with regional social initiative Silatech, the camp is the first in a series of five training sessions to take place in the coming months in Egypt, Jordan, Saudi Arabia, the United Arab Emirates and Lebanon. The local host for the Cairo training was UNDP Egypt.

Boot camps are designed to create a regional network of social entrepreneurs who are equipped to build sustainable social businesses.

Participants gain market and industry knowledge, design tools, an understanding of how to access market and other social entrepreneurs as well as leading experts and investors.

While the traditional entrepreneurs measure success in terms of profit and returns, ‘social entrepreneurs’ apply an entrepreneurial approach to solving social problems.

Most ‘social enterprises’ pursue a specific mission to benefit society while ensuring their sustainability by generating revenue through products and services.

Alia Said, Learner’s Program Manager at Tahrir Academy, said:”I truly wish I’d had access to a boot camp like this three years back. It would’ve saved me from the confusion I went through trying to run our start-up. What I’ve gained here has given me a clear roadmap on how to sustain and scale our social enterprise.”

Entrepreneurship with Impact Ventures is a social initiative that supports the creation and growth of social and inclusive business models across the Middle East and other growth markets. Founding members Silatech and Ahead of the Curve launched EWIV in June 2014 to provide financial and technical support to existing and idea-stage social enterprises as well as large businesses that are willing to connect low-income and underserved communities in rural and semi-urban areas.

The first impact investment venture of its kind in the Mena region, EWIV provides training and incubation services as well as equity investment opportunities for the most promising businesses.

EWIV has already invested in two Egypt-based social businesses: Tawseela is an innovative bus service which addresses the adverse impact of Cairo’s traffic congestion. Tatweer is revamping the traditional Egyptian kiosk with a new concept design that optimises the retail, advertising and communal aspects of this ubiquitous street landmark.

Additional investments are being explored in Lebanon, Jordan and Morocco.

EWIV includes a physical one-stop shop for inclusive businesses based in Cairo which provide advice and capacity building services to large businesses looking at developing inclusive business approaches. This facility is operated with support from the German GIZ.

“We, at Silatech, are proud to be part of this unique and much-needed initiative that can create value in so many ways,” said Justin Sykes, Director of Enterprise Development at Silatech.

“In the battle against youth unemployment in the region, innovative solutions are needed. We, at Silatech, strongly believe social entrepreneurship can create thousands of sustainable jobs and transform people’s lives, their communities and the region at large.”

Dina Sherif, Co-founder and CEO of Ahead of the Curve, said:”The Cairo boot camp is the first of a regional English and Arabic series that empowers leaders with the tools needed to achieve sustainable impact through profitable business models. The programme takes you through a process of validating an idea and developing and scaling up a business model. We at Ahead of the Curve and Entrepreneurship with Impact Ventures believe social enterprises can not only be a pathway to systemic social change, but also to the sustainable creation of jobs needed for our region’s youth.”

Qatar Tribune