Discussing Edafa Venture Capital’s Role in Supporting Startups at Techne Conference
Dr. Mohamed El Farran, Investment Consultant at Edafa Venture Capital, spoke about the meetings his company held with Egyptian startups during the Techne Conference. He said, “Yesterday, we met with around 35 Egyptian companies, and we’ve already made investments in some of them, which we announced on stage on the first day.” Dr. El Farran mentioned that some of these companies were ready to receive investments based on their set criteria.
Meetings and Potential Deals
Dr. El Farran shared that today they have met with about 20 more companies so far and expressed optimism about closing four potential deals in the coming hours. He explained that Edafa Venture Capital is not just an investment company but also a Venture Studio that provides all the necessary resources for startups in Egypt, including funding, networking, software, marketing, and business consulting.
Opening New Markets for Egyptian Companies
He emphasized the importance of opening new markets for Egyptian companies in Saudi Arabia and the Gulf region, which is a key focus of their strategy for supporting startups.
Advice for Young Entrepreneurs
When asked about the ideas and ventures of young entrepreneurs in Egypt, Dr. El Farran noted that since 2008, there has been a noticeable improvement in the quality of ideas. However, he pointed out that most of the projects are still experimental. He advised young entrepreneurs to take their ideas to market and test them to see how customers respond. He explained, “Once you see customer feedback, you’ll find everyone ready to support you.”
Dr. El Farran’s Message at Techne Conference
Dr. El Farran concluded with a clear message for Egyptian youth: “Foreign markets are open for you, young people, the key is finding the right level of your idea and the right partner to collaborate with.” He also highlighted that Venture Capital will invest only when there are clear success factors in place, adding that tools such as software, marketing, and networking will greatly aid entrepreneurs in achieving success.
