After Years of Unrest, Egypt’s Startup Ecosystem Is Booming

After Years of Unrest, Egypt’s Startup Ecosystem Is Booming:

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As clashes between Egyptian soldiers and protesters left dozens dead in October 2011, Ahmed Zahran was betting his savings on converting the water pumps used by farmers from running on diesel to solar energy.

The 33-year-old spent 65,000 Egyptian pounds ($9,400) starting KarmSolar with three friends and landed the first client last year in Egypt’s Western Desert as fuel shortages worsened. Almost 9,000 other companies were set up in the 12 months to June this year, the most since Egypt began publishing statistics on startups in 2004.

“A lot of people like us, young people, became risk takers after the revolution because they realized they had nothing to lose,” Zahran said in an interview in Cairo."

'via Blog this'