After 750 applicants from arcos Egypt threw their names in the hat, the fourth edition of the annual competition saw some of Egypt's brightest minds pitch their ideas.
As one of the leading real estate developers in Egypt, Tatweer Misr has long been an advocate for innovation and entrepreneurship, a backer of the country’s brightest young minds. It’s this sentiment that has powered the Tatweer Misr Innovation Competition, which this week announced the winners of its fourth and latest round.
The competition saw some of the ecosystem's most promising and successful young entrepreneurs to a pitch night that was also attended by some of the ecosystem’s heaviest hitters and fittingly located at The Greek Campus in Downtown Cairo.
The night saw four winners crowned - something that wasn’t originally planned. So impressed with the ideas being pitched, however, Tatweer Misr made a last-minute decision to open its startup track to include two winners instead of the originally planned one.
Subsequently, $450K of prize money was handed out to the winners, who will also receive invaluable one-on-one mentorship. Going home with $250K in prize money, the first winner in the Startup Track came in the form of EVOQAS, a B2B digital platform that develops tools and applications with which businesses can run efficiently, anchored by an online financial planning tool aimed at real estate developers, investors and other financial institutions. The second (unexpected) winner was Plan A, a virtual platform that acts as a one-stop-shop through which users can design home interiors easily and affordably. The innovative platform allows its customers the chance to fully visualise their otherwise conceptual designs, before giving them the chance to buy products from different suppliers on-the-spot.
The Ideation Track wasn’t without its own action, too, as the next generation of entrepreneurs were given the chance to pitch their ideas, too. Targeting university students and graduates, the track’s first winner was Sherif Fakher's Rice Husk, a project that uses the ash of burnt husk to create cement in a sustainable and eco-friendly manner. The second was Mohamed Sabry's Tharwa, a digital crowdfunding platform that aims to help clients invest their money in the best possible way.The winners were chosen by a glittering and esteemed jury made-up of some of the most impactful figures in their fields, including Ahmed El Alfi, Founder and Chairman of The Greek Campus; Dr. Mohab Anis, Founder and CEO of Innovety; Nabil El Gohary, Chairman and CEO of GOCOM Investments Egypt; Reem El Saady, Regional Principal Manager of the European Bank for Reconstruction and Development; Rafea Saleh, Founding Partner of Cubit Ventures.The pitch night had the added factor of a panel discussion, which featured Chantal Sabbagh, Deputy General Manager of National Bank of Egypt; Sherif Hosny, Founder and CEO of Schaduf; Dr. Rasha Tantawy, Head of Entrepreneurship TIEC andITIDA; and Loay El- Shawarby, Principal of El- Shawarby Attorneys-at-Law and moderated by Moustafa Khater, Founder and CEO of Cubitcode. Beyond the prize money, the pitches and the talks, however, the fourth round of the competition has only strengthened the belief that Tatweer Misr holds at the core of the competition.
Celebrating the success of the fourth round of The Tatweer Misr Innovation Competition, Dr. Ahmed Shalaby, President & CEO of Tatweer Misr stated, “The ideas presented during The Tatweer Misr Innovation Competition are impressive and reflect the true power Egyptian youth have to revolutionize the real estate sector that complement ‘The New Normal” we are currently living in after the outburst of COVID-19.” He continued, “Tatweer Misr’s support to the entrepreneurial scene is not only reflected through the innovation competition; rather, it is a part of the company’s overall strategy that prioritizes education and entrepreneurship. We will continue to support all entrepreneurial ideas that can bring true value to the sector and help overcome the existing challenges.”Shalaby highlighted the positive feedback the Innovation Competition has been receiving from its participants in regards to the support they have been given throughout the course of the competition. They confirmed that the mentorship & training opportunities received would aid the development of their ideas and help transform them to reality. “This is what encourages us to continue with the competition on an annual basis and develop its concepts further to better serve the demands and needs of the industry; to create more opportunities for rising entrepreneurs,” he stated.
“What’s different about Tatweer Misr’s innovation competition is that this year's round received a wide range of high-quality ideas and innovative solutions ranging from technological solutions in construction technologies, E-commerce as well as new business models, the mix itself was powerful as it would definitely convert the new normal challenges into opportunities." Dr. Mohab Anis, Founder & CEO of Innovety stated. He continued: "the huge outreach is also worth mentioning. We received more than 750 applications, 60% were from Greater Cairo and the other 40% were from different governorates all over Egypt ensuring diversity.”
After this unique fourth edition of the competition, expectations will be high for further subsequent editions, with Tatweer Misr unwavering in its core belief that the future will be shaped by a new generation of entrepreneurs.
For more on the Tatweer Misr Innovation Competition, click here.