News & Events
Egypt.com: Is It Time to Invest in Egyptian Start-ups?
Amr Ramadan is the kind of entrepreneur investors look for: he started his company Vimov with only $1,060 and begins his investor pitch by openly admitting the failure of his first product. His next product was a simulator for iPad developers that sold thousands of downloads at $32 each. His third product was the most popular paid weather app on the iPad, with over 350,000 users paying $.99 each. The next product in his pipeline, an ingenious take on personalized news, sounds even more promising. In Silicon Valley he would have a few hundred thousand dollars of angel money in the bank, and a couple of Series A term sheets from VCs in his pocket. But Amr is not in California, or even the United States. He is in Alexandria, Egypt, and he’s just one of a new class of young, educated and Internet-enabled entrepreneurs in the region… read more