'India,Egypt have huge untapped potential in entrepreneurship'

India and Egypt have huge untapped potential in entrepreneurship with their biggest asset being the youth who are willing to take more risks, according to experts here.

The Maulana Azad Centre for Indian Culture (MACIC), the cultural wing of the Indian Embassy in Cairo, yesterday organised a seminar on 'Cooperation in Entrepreneurship between India and Egypt'.

The seminar was part of the 'MACIC Roundtable', a monthly seminar series involving youth, academicians, culture lovers, civil society activists, on issues of mutual interest to India and Egypt.

Eminent speakers at the event included Dr Hossam Osman, Vice President, the Technology Innovation and Entrepreneurship Centre (TIEC), Mohamed Hamza, Acceleration Manager at AUC Venture Lab, Abdel Hameed Sharara, the CEO and co-founder of Rise Up Summit, Willie Elamien, Managing Director at Flat6labs, and Ola Bakr, Radio presenter at Radio Masr.
 

The speakers stated that both India and Egypt has a huge untapped potential in entrepreneurship and the biggest asset for both countries being the youth, who increasingly are willing to take more risks.

Osman said there are many enthusiastic youth in India and Egypt who establish startups in many sectors like programming, e-commerce, food and social projects.

He said most of those young people usually come with innovative ideas in order to achieve concrete results.

India's Ambassador to Egypt Sanjay Bhattacharyya said the seminar was part of a new start and a number of activities will be organised by the Embassy in the nea future in order to promote information exchange between young entrepreneurs.

He said Indian youth depends basically on startups.

The entrepreneurship ecosystems in both the countries have come a long way, Bhattacharyya noted.

India became the hub for thousands of startups, spreading across sectors like e-commerce, software, food processing, IT solutions, social entrepreneurship etc, he pointed out.

Egypt's startup growth is one of the fastest in the region as young entrepreneurs are taking to innovation, technology and are on their way to creating a vibrant entrepreneurship ecosystem, the Ambassador noted.