What's up with Google Ebda2: Announcement of Top 50 Finalists
Celebrating the top 50 finalists that passed Phase 0 and Phase 1 of the startup competition Google Ebda2, the company held a press conference at the Four Seasons Nile Plaza yesterday, announcing the beginning of Phase 2.
The conference was attended by the finalists, Google Regional Manager for Egypt and North Africa Wael Fakharany, Business Development Consultant at Science Age Society Mohamed Aboud and a 10-member-strong panel of judges from various reputable firms and sectors in Egypt.
Till now, Ebda2 has reached about 8500 students in 10 different governorates and included 4100 startup ideas, of which 50 were chosen up till now. Yet, only one winner will walk away with $200,000 (approximately 1,200,000LE) to invest in his company.
Additionally, Ebda2 is going to invite investors to look at the remaining projects coming March.
"This is not about Google - this is about the internet. And it is not about a competition - it is about running your own business," Fakharany stated, trying to boost the finalists' motivation.
About 40% of the projects in Phase 1 originate from outside Cairo, which shows that Ebda2 has to an extent succeeded in broadening its limits and expanding the competition all over Egypt, avoiding the monopolist perspective of the capital being representative of the country.
Fakharany added: "The real start is not now - the real start is when we give away the money and the chosen company starts flourishing and growing."
In the coming phase, the 50 remaining contestants will undergo a number of workshops with specialized mentors and are required to:
- Present a prototype/working model in an individual booth (Exhibition).
- Submit a Business Summary document.
- Pitch the business to a panel of Judges.
The competition originally started on the 26th of September 2011.
Stay tuned for exclusive interviews with some attendees at the press conference on Egypt Business Directory.
The conference was attended by the finalists, Google Regional Manager for Egypt and North Africa Wael Fakharany, Business Development Consultant at Science Age Society Mohamed Aboud and a 10-member-strong panel of judges from various reputable firms and sectors in Egypt.
Till now, Ebda2 has reached about 8500 students in 10 different governorates and included 4100 startup ideas, of which 50 were chosen up till now. Yet, only one winner will walk away with $200,000 (approximately 1,200,000LE) to invest in his company.
Additionally, Ebda2 is going to invite investors to look at the remaining projects coming March.
"This is not about Google - this is about the internet. And it is not about a competition - it is about running your own business," Fakharany stated, trying to boost the finalists' motivation.
About 40% of the projects in Phase 1 originate from outside Cairo, which shows that Ebda2 has to an extent succeeded in broadening its limits and expanding the competition all over Egypt, avoiding the monopolist perspective of the capital being representative of the country.
Fakharany added: "The real start is not now - the real start is when we give away the money and the chosen company starts flourishing and growing."
In the coming phase, the 50 remaining contestants will undergo a number of workshops with specialized mentors and are required to:
- Present a prototype/working model in an individual booth (Exhibition).
- Submit a Business Summary document.
- Pitch the business to a panel of Judges.
The competition originally started on the 26th of September 2011.
Stay tuned for exclusive interviews with some attendees at the press conference on Egypt Business Directory.