- That’s when we launched INNO101 , An Alexandria based business accelerator
in a mission to Help building the entrepreneurial ecosystem in the Egypt .
- Focusing in supporting Tech StartUps that have social impact as technology is the backbone of all sectors and industrial verticals .
- And it’s simple , We find promising startups , Train them , Mentor & Advice them , Invest with them , Help them impact and succeed !
Once upon a time …
There was a Need …
There was / still a need for supporting entities , helping innovators and young business owners and first time entrepreneurs to go from ideas to execution .
People don’t understand us , someone might steal our freakin awesome ideas , i need someone is more experienced to advice me , we don’t have access to investment …
- Culture : There was a need for the spread of the entrepreneurial culture as it’s a change catalyst and economic growth booster .
- Education : Most founders come from technical background with that crazy opposition about their science , ideas , theories and technology but they need a different type of education to unlock their entrepreneurial potentials .
- Mentorship : Every entrepreneur needed to link with mentors that help him widen his horizon , think bigger , guiding the way along that risky quest .
- Human Resources : To find the right co-founders , how to pick them , how to recruit their team members … Always an issue !
- Investors : Most of entrepreneurs specially young ones or first timers lack for connections or the proper introduction to meet , attract the investors attention .
- Regulations & Laws : Silence ! Ok , It’s better that we move to the next line …
But also , There were … Obstacles / Challenges
Being an awesome innovator / young entrepreneur is never enough to build an successful startup . Many other variables are always influencing your progress .
- Culture : Entrepreneurs are only 3% of the earth population . Most of common people don’t understand what they do , how and why they do it !
- Education : No place could teach you this dark magic stuff but few may do and the rest you go figure it yourself , check the web for moocs , videos … Not many programs around to teach you that sort of knowledge .
- Mentorship : Awesome successful businessmen/entrepreneurs who are willing to share their knowledge and experience with you … How many are they ? How do you access them ? How this relation works ? Yes we heard that before from many fellow entrepreneurs !
- Human Resources : Finding qualified energized innovative experienced loyal employees … pfffff !
- Investors : Not willing to take much risk ! Ok , They busted their asses to make that money you are telling them to easily give to you or they just don’t want to invest in your industry or with the ticket size you asking or they just don’t like the looks of you !
- Regulations & Laws : Ok , It’s better that you move to the next line …
- End of text …
And that’s how it started …
We studied the need for entities that could help those innovators and young business owners and entrepreneurs to go from ideas to execution driven with our passion and We decided to enjoy that new adventure , Helping Egyptian entrepreneurs , Operate from our our beloved city ” Alexandria ” … Why the hell not !
- Scout : We really enjoyed our first few months exploring , identifying , connecting and learning about the existing entrepreneurial ecosystem puzzle in Egypt and believe us most of the time all you need to do is read , monitor , analyze or just ASK !
- Shape : There are like 40+ process modelings for incubation/acceleration cycles … We did alot of testing/analysis and learn from the best until we figured the best fitting programs and yet we still experimenting who to improve and enhance the process to achieve maximum efficiency and we invested but our own money in the process .
- Awareness : To create new pipelines of potential entrepreneurs and due the lack of entrepreneurial activities when we started , We launched our Navigator program where we can initiate awareness / mentoring programs , partner and contribute to the development and capacity building of our local ecosystem .
- Accelerate : It’s almost three years by the time we’re writing this , We had lots
of ups and downs … We were already experienced , know how to manage / build profitable businesses , sustain , expand , scale but the entrepreneurial experience with each new startup is yet a new challenge , a new mountain to conquer .
- Impact : When we look back to what we have achieved with the startups we worked with , at most cases we got inspired and even more energized to help more entrepreneurs and support them along their entrepreneurial challenge .