A week ago at a global conference, I was asked a question by my peers: “Why is there such little innovation in the middle east?”. I usually do not expect such bluntness. Then, I started to consider it. Are the social and financial barriers thick enough they are impenetrable?
Then, I did the math. The metrics were astonishing, on average 2% to 3% of companies at the very top incubators and accelerators were founded by Middle Eastern people. We are at a standstill. Economically, socially and financially and unfortunately, it seems like we only have ourselves to blame.
What is worse, is that this number decreases tenfold for women, in fact, in some startup batches, the number is a 0. Instead of explaining why this is the case, I have decided to take a different route.
Let me tell you why the barriers you think exist are only in your head. Let me tell you why today is the prime time to build your own company. Let me tell you why this is the region (Egypt and the middle east in general) that will allow you to maximise your wealth, to make an unprecedented social impact and to, as cliché as it might sound, do your part to change the world.
#1 THERE ARE GAPS IN EVERY MARKET- LITERALLY EVERYWHERE
Take a look at whatever market you serve, odds are there are about 10 different start-ups that could start tomorrow and be hugely successful. This is in sharp contrast with the USA or Europe where the markets seem to be saturated, at the current stage, when it comes to innovation.
#2 EVERYONE ENCOURAGES INNOVATION IN EGYPT
When you have the right drive, the right education and the right idea people will support you. Since there is very little innovation everyone treats new ideas like they could be the next big things. That is the case because they will be.
#3 EGYPTS CURRENT ECONOMIC GROWTH
This country has been through a lot, and the truth is no matter your political affiliations we cannot ignore one reality: economically Egypt is in boom.
FINALLY
I’m talking to you my dear women. Let us be honest with each other and ourselves. Yes, it will be harder for you because you are a woman. Yes, you will have to deal with things that I cannot even put into words here in fear it might trigger sadness in you. Yes, you will be belittled. Yes, yes. Yes.
However, you are stronger than any thing that will be thrown your way. You gave Grit. You have passion. You have a voice. You are what these men will never be, yourself. Free. Honest, and ten times stronger then they could ever dream to become.
Use this Grit, be an ally and please set us all free in the process.
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