Google in $200,000 search for top Egyptian startup

Google is offering technology startups the chance to win $200,000 in seed capital, in a Dragon's Den-style competition designed promote entrepreneurship in Egypt.

Like the famous reality-TV series, Egyptian entrepreneurs will be invited to pitch their ideas to a panel of experts.

But unlike the cutthroat world of venture capital portrayed in Dragon's Den, many entrants to the Start with Google programme will receive intensive mentoring in how to make their business a success.

One winner will receive 1.2 million Egyptian pounds (US$201,000) in funding to help bring their business idea to the market.

Start with Google was launched today in partnership with the Science Age Society, an Egyptian non-governmental organisation, and Innoventures, which promotes technology startups.

Wael Fakharany, country manager for Google in North Africa, said that the aim of the programme was "to inspire Egyptians to start their own technology ventures and have a series of working models online which directly benefit the Egyptian economy."

Applications will be accepted for businesses specialising in several areas, including cloud computing, digital advertising, ecommerce and mobile applications.

The eight-month project will include a roadshow in 10 cities across Egypt, a screening process of entrants, and a period of mentoring and coaching for 200 applicants. The first roadshow will be held at Cairo University on Thursday.

"Google will help uncover the potential of Egyptian entrepreneurs. Our aim is to spark the effective minority of Egyptians that will make a difference by starting their own businesses," the web-search giant said in a statement.

Twenty finalists will eventually compete for the top prize, which will be awarded in May next year. Startups will be assessed on several factors, including the level of innovation, potential to create jobs and revenue potential.