Endeavor Egypt Celebrates its Impact in Egyptian Entrepreneurship

 

CAIRO, EGYPT - December 11th, 2019 - Endeavor Egypt celebrated its Entrepreneurs’ 2018-19 impact at its annual networking reception held on December 4th, 2019, bringing together its network of high-impact entrepreneurs, mentors and ecosystem partners.

Endeavor Egypt’s impact highlights the important role played by Endeavor Entrepreneurs in catalyzing long-term economic growth in Egypt through the job and wealth creation impact of their companies, and through giving back to Egypt’s entrepreneurship ecosystem.

Endeavor Egypt currently supports 52 Endeavor Entrepreneurs leading 33 scale-up businesses across diverse sectors and industries.

2018-19 Impact:

In 2018, Endeavor Egypt’s Entrepreneurs’ businesses have collectively generated EGP 5.4 billion in revenues and have created over 1400 jobs. To date, Endeavor Entrepreneurs have created over 11.3K jobs to Egypt's economy and have raised over $175 million in capital from local and global institutional investors to scale their businesses.

In addition to their companies’ impact, Endeavor Entrepreneurs also contribute to the wider entrepreneurship ecosystem in different ways. 40% of Endeavor Egypt Entrepreneurs have actively engaged as mentors to local startups, sharing their knowledge, expertise, strategies, and inspirational stories with Egypt’s budding entrepreneurs.

The accomplishments of Endeavor Egypt’s Entrepreneurs are further made possible with the support of a network of 70+ mentors, whose commitment and strategic guidance help Endeavor Entrepreneurs think bigger, make better decisions and multiply their impact.

In 2018, Endeavor Mentors donated over 430 hours of counsel to Endeavor Egypt Entrepreneurs and 14% of entrepreneurs were engaged in Endeavor’s Mentorship program.

2019 Awards:

At the event, Endeavor Egypt awarded top network members that have contributed most to the organization’s impact and helped advance Endeavor’s mission of supporting high-impact entrepreneurship.

Endeavor Entrepreneurs Ahmed El Adawy and Hussein Rifai, Co-Founders of Inertia Egypt, were awarded Entrepreneurs of the Year 2019 in recognition of their continuous championing and exemplification of Endeavor’s high-impact entrepreneurship model through scaling their business and reinvesting their time, knowledge and financial gains in the next generation of entrepreneurs.

From the mentor network, Endeavor Egypt recognized Alaa Hashim, Founder and Executive Partner at Transcendium, as Mentor of the Year 2019 for his exceptional contribution while Endeavor Mentors Amr El Helaly (Rich Bake), Seifallah Zoghbi, Tamer Elraghy (Acumen Capital Partners), Walid Bakr (Ripples Impact) and Dr. Ayman Ismail (AUC The American University in Cairo) were honored for their 10-year commitment to mentoring with Endeavor Egypt.

List of 2019 Awardees:

Entrepreneurs of the Year:
● Ahmed El Adawy and Hussein Rifai, Co-Founders of Inertia Egypt

Mentor of the Year:
● Alaa Hashim, Founder and Executive Partner of Transcendium

10 Years of Mentorship with Endeavor
● Amr El Helaly, CEO of Rich Bake
● Dr. Ayman Ismail, Abdul Latif Jameel Endowed Chair of Entrepreneurship and Associate Professor at The American University in Cairo
● Seifallah Zoghbi, Endeavor Mentor
● Tamer El-Raghy, Managing Director of Africa Agriculture Fund at Acumen Capital Partners
● Walid Bakr, Managing Partner at Ripples Impact