A new initiative to support young people Arab entrepreneurs




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A new initiative to support young people and Arab entrepreneurs

Foundation announced ” Silatech “today announced its cooperation with the platform” can “to support young entrepreneurs by providing the use of the first regional electronic platform on the Internet for participatory innovation and collective funding, which supports innovative ideas and projects infinitesimal.

And can be. com is a non-profit website on the Internet works on innovation participatory and based on funding opportunities for collective, which launched its pilot phase in Egypt in October 2012 through an initial support of “World Bank’s fund for youth innovations.”

And help the platform “can be” small and micro to meet the challenges that are offset in the design of their products and by publishing challenges on the website on the Internet, and receive innovative solutions of young innovators, thus bridging the gap between those who have a problem – or face certain challenges in industries – the owners of creative ideas and solutions to address these challenges.

The platform “can be” a way to mobilize the necessary funds to convert innovative ideas into products. And made available to users “can be. Com” buy a range of innovative products on the site system “reservation is needed” in order to contribute to the provision of financial resources necessary for the production process and before the product out to the market.

“Silatech” is a social initiative created to meet the urgent need of growing and to provide employment opportunities and increase economic opportunities for young people. Encourages initiative activities aimed at providing job opportunities and wide-ranging, and promote entrepreneurship, and allow young people to access the capital markets, and to participate and engage in economic and social development in the Arab world as a whole, where the unemployment rate among young people is the highest. Silatech was founded in January 2008 at the initiative of Sheikha Moza bint Nasser and broad support from regional and international leaders.

The partnership aims Silatech with platform “can be. Com” to provide innovative solutions for young Arab entrepreneurs, through harness Altknoggio to secure funding opportunities and help individuals on their integration economically and socially.

Already submitted Silatech investment community via the “Kiva Arab youth” in collaboration with the Organization of Kiva.org (the largest electronic platform in the world of online group lending), has contributed to this program is to facilitate the more than 60,000 lender – the equivalent of $ 3 million – more than 2500 funding a pilot project in the Arab world, using community-based lending approach over the internet.

Said Dr. Tariq Mohammed Yusuf, CEO of “Silatech” saying: “This partnership with can. Com enhance approach our support innovation and enable the general public in Egypt and the Arab world to contribute to the development of their economy and their community by supporting young entrepreneurs in building economic opportunities for themselves. ”

The Arab world has now has the highest proportion of young people in the history of the region, there are more than 100 million young people aged between 15 and 29 years, representing 30 percent of the total population. In Egypt, there are approximately one person out of work between four people. So you find that the Egyptian youth began heading to provide employment opportunities to build a better life and achieve his ambitions., And without the availability of the necessary funds or experience, many of these small projects established by young people will be unable to continue or grow. At the same time the increasing use of the Internet to more than 20% since 2011, where it is estimated that more than 31 million people in Egypt using the Internet today, and more than half of those using social media actively; there is a chance to use the internet to fill the gap between entrepreneurs Small needing capital and expertise, with those who have none of them in addition to the desire to help them.

For his part, said Tamer Taha, CEO “can be. Com”: “It is time to take advantage of collective intelligence Arab and transfer innovation to economic value added, not only in projects nature Technology but also in small enterprises operating in the craft or technological Light , and we consider our partnership with Silatech step forward towards achieving this common vision. This innovative model for resource mobilization is the first of its kind in the Arab region, and also pave the way for the start of other initiatives in the future that use technology to provide opportunities “tender-mail”, through the activation of interaction and deepen the sense of transparency. ”

Silatech projects . com

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