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Egypt’s
Technology Entrepreneurs
Invited to Enter 3rd Annual
Business Plan Competition
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Egypt’s
Technology
Entrepreneurs
Invited to Enter 3rd
Annual Business Plan
Competition
Technology
Development Fund
sponsors the LE
2,000,000
competition focused
on Internet
e-services,
electronics, &
mobile applications
Cairo, February 06, 2007: The search is on for the most promising
upstarts in Egypt’s
information
technology (IT)
sector as the third
annual Business Plan
Competition was
launched today. The
competition aims to
find talented
entrepreneurs in the
Egyptian IT field
and award and
support their
innovative business
ideas.
Total prizes in cash
and services are
valued at LE 2
million. T this
includes a cash
prize from Egypt’s
IT community, a
monthly salary for
up to one year,
incubation
facilities at the
Smart Village, and a
one- year program of
business management
experiencementorship.
The focus of this
year’s Business Plan
Competition is on
Internet
applications and
services,
electronics, or and
mobile applications
(embedded systems).
“Every year the
Business Plan
Competition
discovers innovative
projects from some
of Egypt’s most
creative IT
thinkers, and this
year will
undoubtedly be no
exception,” stated
Ahmad Gomaa, CEO of
Ideavelopers, which
is the advisor to
the Technology
Development Fund and
lead organizer of
the competition. “As
we launch the 2007
competition, we are
looking forward to
seeing even more of
the same pioneering
spirit that has made
our previous
contests so
successful. This is
an excellent
opportunity for
technology
entrepreneurs to
turn their ideas
into projects and
their project teams
into registered
companies.”
We need a quote from
the chairman which
you can deivise and
we show it to him by
today
Entry to the
competition is
straight-forward so
as to encourage the
maximum number of
cutting-edge ideas.
Interested
entrepreneurs need
only submit a short
summary of their
project by April 01
2007. Screening by
top-caliber judges
will short-list the
leading ideas to
create a set of
thirty
semi-finalists who
will be invited to
receive training to
develop a full
business plan
through the American
University in Cairo
to develop a full
business plan.
Spearheading the
competition is its
founder andmain
sponsor, Egypt's IT
venture-capital
Technology
Development Fund,
which in its chief
function as venture
capital fund has
provided LE 50
million to IT
Egyptian technology
entrepreneurs and is
set to provide
another LE 150
million.
“We are proud to be
sponsoring the
Business Plan
Competition because
it encourages and
develops Egyptian IT
entrepreneurship
which is so key to
our booming
technology sector.
This competition
attracts our
country’s top
talent, brings its
into the limelight
and gives these
entrepreneurs the
opportunity to turn
their creative ideas
into reality,”
states Amin
Khaireldin, Chairman
of the Technology
Development Fund.
The competition also
has the strong
backing of the
Ministry of
Communication &
Information
Technology,
Telecom Egypt,
ITIDA IT Industry
Development Agency,
American University
in Cairo,
ITWorx,
Ideavelopers, and
EFG-Hermes.
{Can we have logos
OR would that look
unprofessional }
For details of the
Business Plan
Competition, visit
www.tdfcomp.com.
---- End ----
Note to
Editors:
About Technology
Development Fund:
The Technology
Development Fund
(TDF) is the Middle
East pioneer in
providing venture
capital to
innovative,
early-stage Egyptian
companies in the
field of information
technology. Each
company has a sound
business model and
is innovative,
carefully managed,
and capable of
developing valuable
intellectual
property and other
assets.
TDF provides its
companies with the
most comprehensive
set of seed and
early-stage venture
capital financing as
well as venture
development
services. The
services include
strategic planning,
financial planning,
partner
identification,
management
consulting, legal
counseling, and
incubation
facilities. The Fund
has received the
backing and support
of the Egyptian
Ministry of
Communications and
Information
Technology, with
Telecom Egypt as a
key investor. The
Fund is managed by
EFG-Hermes Private
Equity, Egypt's
leading private
equity group and is
fully owned by the
EFG-Hermes financial
powerhouse.
For more
information:
Visit
www.tdfcomp.com
OrPlease contact
Fatma Ahmed, TRACCS
Egypt
Tel: (+202) 304-6860
Fax: (+202) 303-1219
Email:
fatma@traccs.net |
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