Endeavor Egypt’s 25th Local Selection Panel
Author: Mohamed Rahmy, Managing Director and Zeina Foda, Communications and Development Analyst
On May 22nd, 2017 Endeavor Egypt hosted its 25th Local Selection Panel (LSP) where eight candidate entrepreneurs leading three companies –Go Bus, PayMob, and Plantform– successfully passed this important milestone. The LSP was generously hosted by Endeavor Entrepreneur Mohamed Fahmy, CEO of IST Networks, at his Company’s Smart Village premises.
The Local Selection Panel (LSP) is the step in the Endeavor selection process in which Endeavor Mentors interview candidates to decide whether or not they will move on to the International Selection Panel (ISP), the final stage of selection.
Ten of Endeavor’s Mentors joined us at the LSP as Panelists to help interview and assess the candidate companies, donating their expertise and time to help Endeavor select its next cohort of high-impact entrepreneurs.
At the LSP each candidate has one interview session with each assigned Panel, and each Panel interviews two-to-three candidates in succession. When all interviews are completed, Panelists engage in a moderated deliberation session around the eligibility of the company to move on to the final stage. Candidates will not pass to the ISP if they do not receive unanimous approval.
Since launching its operations in Egypt, Endeavor has screened over 300 candidate companies and today Endeavor actively supports 26 companies led by 45+ High Impact Entrepreneurs in Egypt, collectively generating EGP2.2 billion in revenues and 6K+ in jobs since selection.
Upon selection, Endeavor Entrepreneurs gain exclusive access to Endeavor’s network of 4,000+ global business leaders, industry experts and peer entrepreneurs across the 26 countries where Endeavor has presence. Additionally, Endeavor Entrepreneurs get access to talent, mentorship and smart capital programs designed to help scale their businesses.
Endeavor Egypt’s 26th Local Selection Panel is scheduled to take place this summer in August 2017.
Learn more about on our candidate entrepreneurs who passed the 25th LSP:
Company: Go Bus
Candidate Entrepreneurs: Mona Nassif and Fady Nassif
Description: Descendant of one of the first privately owned transport companies in Egypt, Go Bus is a leading transportation company that provides B2C travel and services and parcel delivery. Go Bus has leveraged its family businesses’ 80+ years of experience in transportation and has become the first Egyptian private company to enter, compete and push the standards at which the government B2C transportation companies operate.
Candidate Entrepreneurs: Alain Hajj, Mostafa Menessy and Islam El Shawky
Description: PayMob serves the underserved and unbanked users, by being a Payment Service Provider with the aim of converting cash into electronic money through value-added integrated payment solutions leveraging all existing payment channels. These channels include banks, mobile operators and Master Card. With only 10% of the growing Egyptian population having bank accounts, the company has a huge market that is looking to be served. PayMob is tackling the issue of cash circulation both from the merchant’s side and the consumer’s side.
Candidate Entrepreneurs: Wael El Shenawy, Khaled Badr and Hussein Abou Bakr
Description: With US is trying to diversify its supplier portfolio and Egypt having a competitive edge due to its climate, location and irrigation systems, Plantform spotted a market gap and started serving it. Plantform is a demand driven food processing exporting company, mainly to the US. The company has three main product lines; canned food, pickles and dehydrated veggies. The global processed food market, including both canned food and dehydrated fruits and vegetables constitutes to around $20 billion.