Welcome to Startup Egypt A new entrepreneurial culture is emerging from the turmoil of the Arab Spring.
Tahrir became the epicenter of the Arab Spring in 2011. Four years of revolution, counterrevolution and terror followed, and the iconic square at the heart of the Egyptian capital has the scars to show for it. Angry graffiti abounds. The air is tense. A vacant office building—its windows blown out, its facade blackened by fire—overlooks the square next to the equally depressing state antiquities museum.
Scratch beneath the surface, and you’ll find a different Cairo populated by tech entrepreneurs, venture capitalists, new-media moguls and high-flying former émigrés who are now flocking home, attracted by the stable new climate and economic reforms initiated by the government of President Abdel Fattah Al Sisi. Call it Startup Egypt.
Take Cloudpress, a cloud-based marketing platform that allows brands to create and easily share visual content with consumers. It was “acqui-hired” by News Corp. (which owns this newspaper’s parent company, Dow Jones) in 2014, a deal in which the investor picks up an existing company’s human talent.