Issue link: http://www.e-digitaleditions.com/i/90487
EIP also sponsors a series of business plan competitions, which are supported by 32 partner organizations. These include regional companies such as Arabnet, an online hub for Arab digital profession- als, and Egypreneur, a networking hub for Egyptian entrepreneurs. Our partners also include international organizations such as Intel, the Global Entrepreneur- ship Program, and USAID. In June 2011, EIP partnered with Science Age Society to hold Startup Summer Camp, where 60 mentors and ten investors evaluated startups, and then EIP helped the winners further develop their ideas. EIP also partners with Cairo-based venture capital firm Sawari Ventures to run Flat6Labs, an incubator and accel- erator that invites prospective entrepre- neurs to submit ideas via its website at www.flat6labs.com. The program then accepts the best applicants into a three- month program at our incubator, where they have access to the faculty, facilities, and mentors they need to commercialize their products and become independent companies. In exchange, Flat6Labs takes a 10 percent to 15 percent stake in their operations. The EIP is further complemented by our student-governed club, the Entrepreneurs Society. Active since 2003, the club orga- nizes its own training workshops and con- ference. The society has produced more than 50 companies in areas ranging from the food industry to Web development to tourism. Club members also write their own publication called "The Lead," which includes mini-case studies and lists of mar- ket opportunities. Since the Egyptian Uprising of January 2011, there has been a growing entrepreneurship will change the lives of Egyptians. sentiment that The Entrepreneur Society's most recent endeavor is the Hit Project 2012, a real- ity show competition that they produced jointly with AUC's Kamal Adham Center for Television and Digital Journalism. "The Hit," which is filmed and edited by students and faculty from the Adham Center, follows 16 teams of AUC student entrepreneurs through all the phases of their startups. The winning team will sell its product on Souq. com, an Arab e-commerce site and spon- sor of the show. Live episodes of "The Hit" are available at www.thehit2012.com. In Sync with History When we decided to build our strategy around the EIP, we knew that entrepreneur- ship would be important to the country's future. But we truthfully had no idea just how timely the EIP would be. The uprising resulted in the overthrow of the regime in Egypt—and introduced major transforma- tions in the Egyptian mindset. After that, we knew EIP had an even bigger role to play than we had thought—and we had to update our curriculum to address those developments. For instance, our case-writing center had not been very active since it opened in 2007, but in just the last two years, it has produced more than 100 cases. Egyptian companies, unlike those in other parts of the world, are traditionally reluctant to share the details of their businesses, including their financials, their successes, and their failures. But the uprising has changed attitudes. More companies are willing to share their experiences with us. They used to think their power rested in withholding information; now they see more power in sharing it. We launched three different series of leadership panels, including one called "Transforming Egypt." We brought in stu- dents, researchers, faculty, and industry experts to discuss how our economy can be brought back on track. Several research papers resulted from that meeting, which we have shared with government officials to aid their decision-making processes. We partnered with TechWadi, a Silicon Valley nonprofit that promotes Middle Eastern entrepreneurship, to hold "Egypt Rising." The event brought together thought leaders in education, business, technology, and healthcare, as well as successful Arab expatriates, to outline a plan to develop Egypt's econ- omy through entrepreneurship. Exciting Times Before the uprising, we changed our cur- riculum based on traditional competitive trends. Now, our position has become more profound. People younger than 25 years old make up 58 percent of the Egyptian population, and that number is growing. Egypt's youth are passion- ate, fresh, and experiencing exceptional moments not only in their lives, but in the history of their country. That combination is building positive momentum in this country, inspiring our youth to think in brand new directions. We are in a country that is more than 7,000 years old, but it is still the land of opportunity. So much of it remains untapped—but we plan to change that. Sherif Kamel is dean of the American University of Cairo's School of Business in Egypt. BizEd November/December 2012 47