Alsharif: Startups have needed ideas to build technological projects, but face high risks

27 / 11 / 2024

By Marwa Nassar - -

Ahmed Alsharif – Founder and CEO of Averroes Ventures – said startups have needed ideas to build technological projects, however they often face high risks. This domain is relatively nascent in Egypt, yet it has begun to mature quite well.

He said startups began to spread in Egypt in 2011 and continued to advance in 2021, adding that Egypt and the region have secured needed finance for entrepreneurs.

Alsharif noted that startups have constructive technological ideas, but they also face significant risks.

He made the remarks during the third Egypt Business Solutions Summit, under the theme of “Creativity is the Key to Sustainability”. The event is held under the patronage of Prime Minister Dr. Moustafa Madbouli, along with the ministries of Environment, Youth, and Sports, as well as the General Authority for Investment and Free Zones (GAFI).