While being interviewed by Business Punk magazine the journalist carrying out the interview made that remark about how Jordan is becoming somewhat of a tech hub for the region, Entrepreneurship appears to be more prevalent there than it does in Egypt, with numerous products being released there it seems like they have more more Entrepreneurs per capita than any other Arab country. I can’t really disagree with that statement as a matter of fact in many ways this statement is true, I couldn’t help but ponder about what makes that a statement a fact.
Lately Egypt became one of the major IT out sourcing destinations, with international companies popping all over hiring all the talented fresh graduates they can get their hands on, luring them in with relatively attractive packages to take on glorified tech support roles. Which had a certain impact on the Egyptian employment market making it completely different than the Jordanian one; In Egypt IT/CS fresh graduates are rarely unemployed and usually they work 10 hours a day and spend 2 more hours in traffic, realistically they don’t have the thing that every entrepreneur needs the most, Time. On the other hand in Jordan there aren’t that many major IT international companies, and the ones that are there wont hire as zealously as they’d here in Egypt since they aren’t in the employee centeric outsourcing business. I’m sure Jordanian IT/CS graduates have a really tough time trying to find a job, and even if they get picked up by a local company they wont end up being paid as well as they expected while studying. I believe that Challenges are nothing but opportunities in disguise, talented IT grads with lots of free time at their hands in a relatively rich country, its only natural that they went into innovation and product development.
Lately Egypt has been moving so fast along the entrepreneurship track that its actually hard to keep track of all the startups popping up everywhere, the reason maybe the combination of the positive energy this country received with its liberation, The sudden interest in social media and the new interest from Venture Capital now that they know Egyptians can do things other than support IT products. As negative as that this may sound, I believe there is a bubble forming (in Egypt as well as in Jordan), most of these companies are building products that are meant for local consumption, none of them would make it out of the region, also most of these companies lack the vision and the business strategy required to make it through that first year and turning from a startup to a normal profitable company. Most of these startups are going to fail, the few that make it though would serve as case studies that can be used by the next generation of entrepreneurs.
I’m really optimistic about whats taking place in the region these days, with all the startups and young entrepreneurs building products and trying to sell them, if enough people did that, statistically speaking someone is bound to make it, creating that hit product that gains global traction, and once that happens Egypt is going to take off.