“I am really excited to be a part of this competition. We learned a lot and we are very happy to get the first place. Boeing and Amideast gave us a reason to continue our hard work,” said a team member for Al Asdekaa, the first place winner.
Reflecting strong interest in the competition, 240 young entrepreneurs from around Egypt submitted applications to compete. This impressive field was reduced to 36 finalists, representing 12 startups, by a panel of judges who are experts in entrepreneurship, sustainability, and science, technology, engineering and mathematics (STEM) disciplines.
To prepare for the competition, which was held today in Cairo, the finalists participated in a boot camp that covered topics including business modeling, business planning, and pitch deck development. The three winners of the competition divided $4,500 in seed funding to launch their startups.
The competition provided a platform for young Egyptian entrepreneurs to showcase their innovative business ideas aimed at addressing community and global environmental challenges. It is part of a larger STEM program that seeks to nurture the country's next generation of leaders. With 60% of Egypt's population being under 30 years old, this initiative is crucial in empowering the youth and fostering their potential for positive impact.
Since 2007, Boeing invested $2 million in community engagement in Egypt which benefitted more than 22,000 young people in the country.