She has also worked with several educational organizations, including AMIDEAST. This fourth edition of Entrepreneurship at a Glance presents an original collection of indicators for measuring the state of entrepreneurship and its determinants, produced by the OECD-Eurostat Entrepreneurship Indicators Programme.The 2014 edition contains new indicators at the regional level, and a thematic chapter on innovation activities by firms of different size. The 2021 rankings placed Israel in fourth ahead of the United Arab Emirates into fifth; while Poland ranked sixth, and . Her research focuses on developing countries, particularly the developing countries of the Middle East and North Africa. Crunchbase's study shows that of all the companies in the world, only 15.8 percent have at least one female founder. Prior to his appointment in this position, he was the global manager of the business regulations practice for the World Bank Group. 100 Women Entrepreneurs are launched, an initiative dedicated to promoting the inclusion of women in the economy "Mexico not only needs more women to undertake, it also requires that those who . . New business ideas are born here and funded for growth and development. Google apps. Improvements were made in providing electricity, starting a business, dealing with construction permits, and trading across borders. In the same way, on average, the highest regional percentage of youth believing that “persons growing a successful new business receive high status” were from the Arab region.35 Finally, in a third survey of Arab youth, 15 percent wanted to start a business within the next year, compared to only 4 percent of American youth.36. non-entrepreneurs, face severely inhibiting cultural constraints. ASDA’A, “Inside the Hearts and Minds of Arab Youth,” 45. There continues to be a perverse incentive for countries to put reforms on paper merely to appear to be modernizing to the international community. At the same time, though, I've been fortunate enough to succeed a few times, too. He serves on the board of advisers of the American University of Cairo School of Business, American University School of International Service, the Jordanian startup incubator Oasis500, and the boards of directors of the American University of Beirut, The German Marshall Fund and the American Council on Germany. Most of Egypt's businesses representing 97% are micro-sized. Overview of Egypt. With viable, scalable, and inspirational solutions, their budding enterprises are poised for national, regional, and global expansion. In addition, governments can develop one-stop shops for retrieving information and government services in order to make regulatory environments more conducive to entrepreneurship.37. Between 1993 and 1995, he became regional director for international public affairs for AT&T, based in Cairo, Egypt, where he was the principal interface with key agencies within the governments in the region on matters impacting AT&T’s operations. In addition to the GCC, the 1997 Arab League free trade agreement, which established the Greater Arab Free Trade Area (GAFTA), has also helped increase the trade of goods across the region, but more work needs to be done to integrate services and knowledge. There is often a lack of entrepreneurial programs in schools and universities, and business programs too often teach students how to be employees rather than employers. Found inside – Page 56OECD Statistics Working Paper. Lanstrom (1999, p. 10). ... Enabling Entrepreneurship in Egypt: Toward a Sustainable Dynamic Model. Innovations: Technology ... Egypt needs millions of jobs to overcome economic stagnation and youth unemployment. This new development consensus has emerged at a time when many Arab countries are grappling with the root causes of the Arab uprisings. As Ovais Naqvi, managing director of the Abraaj Performance Acceleration Group, aptly put it, socio-cultural changes that would help encourage entrepreneurs include: the family and society structures; the role of and deference toward age; the existence and encouragement of innovation, creativity, arts, music, and literature communities; freedom of speech and expression; respect for the radical, maverick, and even seemingly crazy view and for nonconformity; cultural openness and the breadth and depth of that embrace; and the “continuous beta” versus product perfection culture. . Bank loans are often inaccessible to many entrepreneurs in the Arab world because of the high interest rates charged and steep requirements for collateral assets that disadvantage younger and newer bank clients.44 Those loans are complicated further by the regulatory barriers described above, high rates of government corruption, and a lack of transparency in the rules and regulations of operating a business, which makes entrepreneurs vulnerable to harassment and bribe-seeking by government officials. 45 This is despite . Although estimates vary, the number of micro, small and medium enterprises (SMEs) in South Africa rose by 3%, from 2.18 million in the first quarter of 2008 to 2.25 million in the second quarter of 2015 (Bureau for Economic Research (BER), 2016). At the same time, more than 30 percent […] Ms. Mowafi has numerous publications in her area of research, and in 2011, she was recognized as an emerging leader in global health research by the Global Health Council. self-employment and . Entrepreneurs, creators of new firms, are a rare species. of the African Development Bank (AfDB). According to the government, the number of Internet users increased from 1% of the population in 2000 to 17.2% in 2008, or 13 million people. The State of Women-Owned Businesses, 2019 66 As of 2019, Latina/Hispanic women-owned businesses: • Numbered 2,346,200 or 18% of all women-owned businesses. Adel Abdel Ghafar, “Educated but Unemployed: The Challenge Facing Egypt’s Youth,” Brookings Doha Center, Policy Briefing, July 2016, 7, https://www.brookings.edu/wp-content/uploads/2016/07/en_youth_in_egypt-2.pdf. Zoltan Acs and Catherine Armington, “Employment Growth and Entrepreneurial Activity in Cities,” Regional Studies 38, no. Discover decision making techniques, problem-solving solutions, and early stage conclusions to run your own business. 1 Central Agency for Public Mobilization and Statistics Entreprenell's program in Mansoura. He is author of the recent best seller, and first book on startups in the Arab World, Startup Rising: The Entrepreneurial Revolution Remaking the Middle East (St. Martin's Press, 2013. Across the MENA region, only 10 percent of universities have academic programs that focus on entrepreneurship, highlighting an urgent need to create a more positive ecosystem for entrepreneurship in formal education.41. These entrepreneurs feel bright and full of hope. Egypt's Total early-stage Entrepreneurial Activity (TEA) rate almost doubled, from 6.7% in 2019 to 11.3% in 2020. Helal has received several awards for her work at Educate Me, including the King Abdullah II Award for Youth Innovation and Achievement, the Mobaderoon Masr Award, the NEGMA ImpactEgypt Award, the SHE Entrepreneurs fellowship, and the Arab Women’s Professional Fellowship. Ministry of Tourism statistics show a noticeable increase in tourist numbers: since the beginning of 2021, Egypt has welcomed 300,000 visitors every month He was named one of LinkedIn's first 50 Influencers. This study investigates the opportunities, challenges and education system's role to developing entrepreneurship in the tourism industry in Egypt as a developing country. Her work has appeared in numerous publications including Reuters, Wired, Forbes, Fast Company, The Wall Street Journal, The New York Times and The New Yorker. El-Saie has been recognized for her social entrepreneurship by AUC’s Entrepreneurs’ Society. The ETIFE (Firms, entrepreneurship and innovation) unit at the World Bank, a team of microeconomists and development practitioners works on providing evidence-based, operationally-relevant solutions to these questions. The OECD Steel Committee provides analyses and statistics on world steel market, industry and trade developments, steelmaking capacity, and related raw materials, emerging over the years as the unique platform to discuss multilateral steel problems and find political solutions. She also recieved the Judith O'Connor Award for nonprofit leaders from Boardsource and one of 20 National Service Leadership Awards by Americorps Alums. Harmonizing supply chains for entrepreneurs would go a long way in improving their market position. Policy responses were quick and unprecedented, helping cushion the blow and maintain most SMEs and entrepreneurs afloat. Egypt has reached 89% self-sufficiency in sugar following increased planting of cane and beet and has strategic reserves to last until the next season, the supply ministry said on Thursday. I've made mistakes, pretty stupid ones. Each RISE Entrepreneur leads an enterprise addressing Egypt's most vexing development challenges. “Goal 8: Promote Inclusive and Sustainable Economic Growth, Employment, and Decent Work for All,” U.N. . ￿hal-01703302￿ . 6 Entrepreneurship in the Middle East and North Africa: How investors can support and enable growth 1 For the purposes of this report, we rely on the World Bank's definition of the Middle East and North Africa (MENA) region: Algeria, Bahrain, Djibouti, Egypt, Iran, Iraq, Jordan, Kuwait, Lebanon, Libya, Morocco, Oman, As an entrepreneur, I know about failure. Injaz Al-Arab, “Entrepreneurial Compass: Your Guide to Start Ups and Funding in the MENA Region,” January 2015, 6, http://www.injazalarab.org/wp-content/uploads/2016/02/EXECUTIVE-SUMMARY-Entrepreneurial-Compass-Boeing-Study.pdf. 20 07/11/2010 Social Media for Entrepreneurs Egypt 22% Facebook users in Egypt: 3,436,140 Now 4,300,000 + Penetration in Egypt: 4.21% Now 5.36% Online penetration in Egypt: 25.28% 21. Gabriella Cacciotti and James C. Hayton, “Fear of Failure and Entrepreneurship: A Review and Direction for Future Research,” Enterprise Research Center, Research Paper no. 2 (2012), 13, www.muse.jhu.edu/article/481895. Unfortunately, fostering an ecosystem that would propel these potential change agents forward is not easy. Panel 1: Connecting Global Investors to Social Entrepreneurship for Development in Egypt [PODCAST], Panel 2: Entrepreneur Presentations: Enterprises in the Environmental Sector [PODCAST], Panel 3: Entrepreneur Presentations: Enterprises in the Education Sector [PODCAST]. As a co-founder, Magdy also contributes in the planning and execution of Recyclobekia’s many projects. Found inside – Page 303Entrepreneurship in emerging economies is not an isolated domain, ... growth of the number of new ventures in the ICT sector and the FDI trends in Egypt. Helm also partners with the Entaleq project, the first accessibility certification project in Egypt. Mahmoud Sherif Business Development Manager, JozourMahmoud Sherif  is co-founder and business development manager of Jozour, a company that recycles agricultural byproducts. Let's verify whether online education has a big enough market: A Syngene research from 2019, examining North America, Europe, Asia Pacific, South America, and the Middle East & Africa, revealed that the global e-learning market is expected to reach a market value of $336.98 billion by 2026, growing at a rate of 9.1% from 2018 to 2026. Globally, entrepreneurs and small- and medium-sized enterprises (SMEs) are widely considered to be vital to national economies, particularly because they create a higher share of total jobs than other employers. Instead, many challenges continue to impede Arab entrepreneurs from reaching their full potential. Securing funding is a key challenge entrepreneurs face in the Arab world. In the first of our new series focusing on the entrepreneurs that are reacting quickly and agilely to the global pandemic, we speak to the biggest Egyptian fitness entrepreneurs to find out how the young industry was so quick to shift online, and what the current crisis could mean for its future. Although it is relatively easy to start a business, data issued by Statistics Canada found that business entry . He helped in achieving more liberalization of the telecoms sector internationally for the emerging nations of the Middle East, Africa, and Eastern Europe. While some SMEs have seen a gradual improvement, the pace of recovery has slowed significantly in recent months underlying a sense of fragility and the importance of ongoing financial support for SMBs. Female Entrepreneurship Resource Point - Introduction and Module 1: Why Gender Matters. Mo. He is author of the recent best seller, and first book on startups in the Arab World, St. Martin's Press, 2013. Alex ShalabyChairman, MobinilAlex Shalaby was appointed chairman of the Egyptian Company for Mobile Services (Mobinil) by board consensus in September 2008, after his appointment as its president and CEO in 2005. Specifically, in addition to creating jobs, entrepreneurs and SMEs can assist in disrupting the pervasive problem of crony capitalism in the region. However, while the region has embraced rhetoric extolling the benefits of entrepreneurship, entrenched political, economic, and socio-cultural interests limit these efforts. Found inside – Page 2Moreover, the role of multinational ICT firms present in Egypt, the IP they hold and their potential ... entrepreneurship and innovation in the ICT sector? Post was not sent - check your email addresses! Japan claims the No. The countries with the top startups/companies in Startup Ranking like United States, India, United Kingdom, Canada, Indonesia, Germany, Australia, France, Spain, Brazil. Without enterprise and entrepreneurs, there would be little innovation, little productivity growth, and few new jobs. These firms are, in effect, rent-seeking: their behavior is dependent on government spoils that provide them with an advantage in the market. They thereby stifle competition, growth, and productivity. This fund marks a significant growth for Egyptian entrepreneurs and startups that will put Egypt on the global entrepreneurship map. Here, international development organizations and partners like the World Bank must continue to call out governments who do not implement their promised reforms. The majority of these new early-stage entrepreneurs, however, do not appear to be starting new firms as a result of the pandemic but, rather, in spite of it. Salem is the author of a number of books and reports on the Middle East, including most recently Broken Orders: The Causes and Consequences of the Arab Uprisings (Beirut: Dar Annahar, in Arabic, 2013) and "Iraq's Tangled Foreign Relations” (Beirut: Carnegie Middle East Center Report, December 2013). Other major challenges relate to a pervading culture of risk aversion and fear of failure.30 There is also a dearth of training programs that promote the “personal growth” and confidence of entrepreneurs.31 In other words, there is still much to be done to provide a positive ecosystem for Arab entrepreneurs. Policy Recommendations: Improving the Ecosystem for Entrepreneurship, A number of regional entrepreneurship programs have produced modest successes in a number of Arab countries. Rana El Kaliouby Chief Strategy and Science Officer, MIT Startup AffectivaRana el Kaliouby is the chief strategy and science officer and co-founder of Affectiva, the global leader in emotion sensing and analytics. Mr. Schroeder was the CEO and publisher of washingtonpost.newsweek interactive and co-founder of the Silicon Valley venture capital backed startup HealthCentral.com, sold in 2012. But corporate executives can absolutely out-earn business owners depending on size of company, geography . Found inside – Page 135... Country/Year 1999 (%) 2003 (%) Egypt 11.5 17.9 Tunisia 23.4 26.8 The West Bank and Gaza or Palestine 18.7 27.8 Source: ILO Bureau of Statistics. Found inside – Page 108Women and Entrepreneurship There is consensus among development specialists that Egyptian women could better contribute to the economic development of their ... 100,388,076. Her extensive international experience includes assignments in Egypt and 30 other countries, where her work emphasizes policy reform, trade and investment, corporate responsibility, infrastructure development, and private enterprise promotion. $303 billion. Found inside – Page 2703, Egypt in the interval between 2008 through 2016 always lagged behind the ... to make measurement and tracking of Innovation statistics easier and more ... He is on the Investment Committee of The Wamda Fund, one of the largest venture capital funds in the Middle East. World Economic Forum, “Accelerating Entrepreneurship in the Arab World,” in collaboration with Booz & Company, October 2011, 11, http://www3.weforum.org/docs/WEF_YGL_AcceleratingEntrepreneurshipArabWorld_Report_2011.pdf. Bessma Momani, "Gulf Cooperation Council Oil Exporters and the Future of the Dollar," New Political Economy 13, no. Topics in Middle Eastern and African Economies 17, no. With Angola as the newest market added to Specifically, Arab governments have been increasingly concerned with the need to provide decent and productive work, especially for their burgeoning youth populations, which are likely to be unemployed or underemployed at higher rates than in other regions. Mona MowafiCo-Founder and President, RISE EgyptMona Mowafi is the co-founder and president of RISE Egypt and a visiting research scientist at Harvard's School of Public Health. It continues to account for 60-80 percent of total formal employment in the Gulf states, Egypt, Iraq, Jordan, and Tunisia.13. labour market, and integrate entrepreneurship education in the curricula of all tracks. Egypt has the second lowest rate for the percentage of the population (18-64) that has received any exposure to entrepreneurship in the education and training system. World Bank, “Doing Business 2017: Equal Opportunity for All,” Middle East and North Africa Regional Profile, 2017, 7, http://www.doingbusiness.org/reports/~/media/WBG/DoingBusiness/Documents/Profiles/Regional/DB2017/MENA.pdf. Ms. Mowafi has numerous publications in her area of research, and in 2011, she was recognized as an emerging leader in global health research by the Global Health Council. Governments should also enable alternative funding sources, such as venture capital funds, angel investors, crowdfunding, and accelerator programs, to expand their activities. The main purpose of this qualitative study is to assess and . He has written extensively on startups and innovation as well as emerging growth markets and the Middle East for The Washington Post, Wall Street Journal, Fortune, Fast Company, TechCrunch, Pando Daily, and Business Insider. Scheland subsequently worked in the IAEA secretariat 2011-14. In many Arab countries, people seek or wait for the promised higher wages, benefits, and security of public sector jobs instead of searching for or accepting work in the private sector.15 These realities have turned policy attention to ways of promoting entrepreneurship as a policy tool to create private sector jobs in response to high unemployment rates. Washington, There is also a wide income disparity among Arab countries, each of which has different consumption patterns and production strategies. Public sector employment has historically absorbed excess labor, particularly the rising number of university graduates. World Bank, “What is Inclusive Growth?” February 10, 2009, http://siteresources.worldbank.org/INTDEBTDEPT/Resources/468980-1218567884549/WhatIs. Najy BenhassinePractice Manager, Trade & Competitiveness Global Practice, MENA Region, World Bank GroupNajy Benhassine is the practice manager for the Middle East and North Africa region for the trade and competitiveness global practice of the World Bank Group. “Small Enterprises in the Middle East and North Africa.”. Find the most up-to-date statistics and facts on startups and venture capital in the Middle East and North Africa. Previously, as deputy high commissioner for refugees from 2004 to 2007, she supervised the administration of the U.N. humanitarian organization. MSMEs and entrepreneurship in Egypt has focused on barriers to growth from technical and economic angles, with little attention thus far having been paid to nonfinancial obstacles such as political and institutional challenges. Mr. Schroeder was the CEO and publisher of washingtonpost.newsweek interactive and co-founder of the Silicon Valley venture capital backed startup HealthCentral.com, sold in 2012. Christopher SchroederEntrepreneur, Venture Investor, Author of Startup RisingChristopher Schroeder is an American entrepreneur, advisor, and investor in interactive technologies and social communications. The research is based on extensive statistical analysis, expert interviews and published books and articles due to the lack of online scholarly sources. However, while many Arab states have reformed laws on paper, they still struggle when it comes to enforcement, deterring real change. The governorates are home to about six million people, out of Egypt's total population of nearly 100 million. These new developments come amid Egypt's steady e-commerce development and growth, especially in light of the coronavirus pandemic. Get in touch with us now. Found inside – Page 396“ Egypt : Statistical Survey , ” Orbis : The Encyclopaedia of Extra - European ... Meyer , A. J. Entrepreneurship : The Missing Link in the Arab States . Policy responses were quick and unprecedented, helping . Yet despite receiving an offer of investment, Bridges decided to take up Daymond John . Our report will shed light on these challenges. Low costs for registering and licensing new businesses and shorter wait times to do so, for example, are necessary to encourage startups. Qamar Saleem, "Overcoming Constraints to SME Development in MENA Countries and Enhancing Access to Finance," World Bank, 2013, 2, http://www.ifc.org/wps/wcm/connect/1e6a19804fc58e529881fe0098cb14b9/IFC+Report_Final.pdf?MOD=AJPERES. Found inside – Page 162critical importance to entrepreneurs and investors after the promulgation of Company Law 138 of 1947. Statistics and Sources: Egyptian Greeks The status of ... 1 (2007): 1-10, http://www.arts.uwaterloo.ca/~bmomani/Documents/World_Economics_EMFTA.pdf. Flat6Labs, Accelerator Company and the key player in the entrepreneurship ecosystem in Egypt, closed EGP 100 million funds with the support of the Ministry of Investment and International Cooperation. According to the survey in 2015, 90 percent of Egyptian women aged 18 - . Entrepreneurship. The most populous MENA country, Egypt (122th worldwide), ranks lower than most other Arab countries and below the regional average ranking of 97 in ease of doing business.39. Relatedly, acquiring credit remains extremely difficult for entrepreneurs and SMEs throughout the Arab world, harming their ability to compete. This book analyzes the history of economic development in Egypt to show the impact of the relationship between state and entrepreneurs on development performance since 1805. Unfortunately, intraregional economic access, integration, and cooperation continue to be limited, partially due to political discord. Statistics and databases. Found inside – Page 188Entrepreneurship and investment in Egypt International migration can affect ... the Central Agency of Public Mobilisation and Statistics (CAPMAS) in Egypt. Prior to starting Affectiva, Ms. el Kaliouby was a research scientist at MIT Media Lab where she spearheaded the applications of facial coding from autism to advertising. The state of entrepreneurship in Canada is healthy overall and compares favourably to other developed economies, but there are fewer new businesses than before, and most owners of small and medium-sized businesses are getting older. In some cases, SMEs are kept from procurement processes because large deposits are required in bids for lucrative government contracts.20 A World Bank report noted relatively low levels of SME financing throughout the region. Small business failure rate aside, many small businesses make it past that critical period and thrive. He is responsible for promoting the study of foreign languages and the study of the cultures of other countries at the elementary, secondary, and postsecondary levels in the United States. Female-run enterprises are steadily growing all over the world, contributing to household incomes and growth of national economies. The Entrepreneurship Indicators Programme (EIP) is a co-ordinated effort to agree on a policy-relevant, analytical model, build a measurement infrastructure and gather comparable data. 20036 Exciting regional initiatives, such as Injaz Al Arab, Grameen-Jameel, Silatech, Wamda, Oasis500, and Environmental Quality International (EQI), are helping propel a pro-entrepreneurial ecosystem forward. Where there is political will, however, and an acknowledgement of the need for economic change to realize people’s potential, governments can harness the state for economic development. In 2012, 55 percent of Arab youth preferred a public sector job, but that figure dropped to 43 percent in 2014. Found inside – Page 185Oxford Bulletin of Economics and Statistics 66 (2004): 353–78. Hattab, Hala. Global Entrepreneurship Monitor: Egypt Entrepreneurship Report, 2008. Entrepreneurship creates new jobs, essential in a region with a young population and high . He has written extensively on startups and innovation as well as emerging growth markets and the Middle East for The Washington Post, Wall Street Journal, Fortune, Fast Company, TechCrunch, Pando Daily, and Business Insider. ￿10.9770/jesi.2017.5.2(3)￿. Policy reforms in these areas have therefore been difficult to implement. “Small Enterprises in the Middle East and North Africa Face Risks and Rewards in the Public Market,” World Bank, May 20, 2015, http://www.worldbank.org/en/news/feature/2015/05/20/small-enterprises-in-the-middle-east-and-north-africa-face-risks-and-rewards-in-the-public-market. Found inside – Page 1667(Behboudi, Assadzadeh and Oskoui, 2013) According to Statistical Review of ... history of Egypt shows a country that does not incentive entrepreneurship or ... Shipbuilding. Get the comprehensive list of indicators of entrepreneurial determinants. With moral suasion and proper monitoring, the same pressures that resulted in putting laws on paper can be used to push for genuine reforms. Find the most up-to-date statistics and facts on startups and venture capital in the Middle East and North Africa. Specifically, only 8 percent of bank loans in the MENA region have been allocated to SMEs—ranging from 2 percent in the Gulf states to 13 percent in the rest of the region, with Morocco, Lebanon, and Tunisia the top performers.21 This is dismal compared to the share of bank loans awarded to SMEs in middle-income countries (16 percent) and high-income countries (26 percent).22, By some estimates, up to $160-180 billion is needed to assist formal SMEs in scaling up their ventures in the MENA region.23 Yet, Arab banks continue to lend primarily to the public sector and secondarily to large private firms, which together crowd out lending to SMEs and entrepreneurs.24 She is currently the vice president of the Association for Middle Eastern Public Policy and Administration, an organization that works to promote governance in the Middle East. for an inside look at the role social entrepreneurship is playing in spurring the Egyptian economy. 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