Oct 20 2011
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"Entrepreneurship key to Egypt's economic success": Intel Capital at ArabNet Cairo Conference
Egypt, Cairo, 20th October 2011 - As part of its ongoing commitment to inspiring local innovation and competitiveness, Intel Capital yesterday stressed the crucial importance of fostering entrepreneurship to move the Egyptian economy forward. Speaking at the ArabNet Cairo Conference, Feroz Sanaulla, Intel Capital investment director for the Middle East, Turkey, and Africa, talked about how Intel is building innovation capacity in the region through promoting research and higher education.
"Intel is committed to supporting sustained economic growth in the Arab region through local collaborations and partnerships aimed at bridging the digital divide and fostering innovation," Sanaulla said. "The past couple of years have seen an incredible volume of rising technology entrepreneurs from Egypt. And the world has noticed. This is only going to increase in the coming period, as Egyptians discover new ways to create jobs and help the economy recover. I can clearly see from the quality of innovations and entrepreneurial ideas I have encountered at ArabNet that there is a great opportunity here for ICT development and investment."
The ArabNet Conference, which took place in Cairo from 19th - 20th October at the Information Technology Institute (ITI) Conference Hall in Smart Village in collaboration with the Technology Innovation & Entrepreneurship Center (TIEC) is the first ArabNet event to be held outside of Lebanon.
Sanaulla also spoke on Tuesday at the American University School of Business in Cairo about what investors look for and the key success factors that venture capitalists seek in entrepreneurs, to an audience consisting of students, entrepreneurs and venture capitalists.
Intel (NASDAQ: INTC) is a world leader in computing innovation. The company designs and builds the essential technologies that serve as the foundation for the world's computing devices. Additional information about Intel is available at newsroom.intel.com and blogs.intel.com.
About Intel Capital
Intel Capital, Intel's global investment organization, makes equity investments in innovative technology start-ups and companies worldwide. Intel Capital invests in a broad range of companies offering hardware, software, and services targeting enterprise, home, mobility, health, consumer Internet, semiconductor manufacturing and cleantech. Since 1991, Intel Capital has invested more than US$10 billion in over 1,140 companies in 49 countries. In that timeframe, 191 portfolio companies have gone public on various exchanges around the world and 268 were acquired or participated in a merger. In 2010, Intel Capital invested US$327 million in 119 investments with approximately 44 percent of funds invested outside the U.S. and Canada. For more information on Intel Capital and its differentiated advantages, visit www.intelcapital.com
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