EUI invites the Chairperson of TIEC to conduct a workshop on Entrepreneurship.
Egypt University of Informatics invited Dr. Hossam Osman, Advisor to the Minister of Communications and Information Technology, Chairperson of the Technology Innovation and Entrepreneurship Center (TIEC) and Vice President of the Information Technology Industry Development Agency (ITIDA) to give a session entitled "Transform to an Entrepreneur: Concepts and Tools, “which was attended by Prof. Reem Bahgat, EUI’s President, Faculties’ deans, academic staff members and a large number of students.
Dr. Hossam Osman, Advisor to the Minister of Communications and Information Technology and the Chairperson of the Technology Innovation and Entrepreneurship Center (TIEC), defined entrepreneurship as the foundation of a project with a new idea based on creativity that makes it grow so fast. Hence, there is a big difference between small enterprises and start-ups. Given the movement of the global business system, we will discover that out of the world's ten largest, 7 of them are engaged in technology, so this sector is the leader and controller of the business compass.
Osman explained during the session, which a group of students attended, how to become an entrepreneur and what this requires to achieve the goal, demonstrating the experiences of start-up owners who have achieved great successes in various sectors in Egypt over the past period. He pointed out that creativity in the field of startups ensures a prosperous future for those involved. There are so many companies with minimal employees that their value is very high, such as Facebook's $1 billion acquisition of the Instagram platform when the workforce was just 13.
Dr.Osman also clarified that one of the characteristics of start-ups is that they do not rely on banks for lack of ownership of assets and are therefore moving towards risk capital funds to obtain funding. This sector has recently witnessed significant youth growth and follow-up to their promising opportunities.
He also added that the workload of startups reached approximately $483 billion in the world during 2022, which demonstrates the world's interest in this sector, explaining that some have a fear of failing, which disrupts a lot of good ideas; young people must therefore understand that failure is not a flaw. What is essential is "rapid failure" and building on that experience in a new experience.