Yahoo! invests $500k in Egyptian innovation
'Social Innovation Starts with YOU' campaign hopes to support young Egyptians in transforming their ideas into reality
Yahoo! and Egypt-based NGO Nahdet El Mahrousa have launched a campaign called ‘Social Innovation Starts with YOU' that hopes to inspire and motivate young Egyptians to be social entrepreneurs.
The campaign is in line with the U.S. Presidential Summit on Entrepreneurship that will take place on April 26 - 27, 2010 in Washington D.C., where Yahoo! co-founder Jerry Yang will deliver a keynote speech on how the Internet can positively transform lives, societies, and economies in Arab communities.
Starting this April, two Egyptian social entrepreneurs between the ages of 21 and 35 years will be featured on the campaign's website, sharing their stories and offering advice to future entrepreneurs. This will continue till June so that up to ten entrepreneurs are featured, with visitors voting for the entrepreneur that they think has made the biggest impact on their communities.
The winner will be invited to be a judge for the campaign's Social Innovation Competition, which is also expected to kick off on June 2nd. For the contest, Yahoo! and Nahdet El Mahrousa will invite people across the country to be the next generation of innovators based on new ideas in the fields of education, health, environment, and a special ‘wildcard' category.
Yahoo! has revealed it plans to contribute $500,000 to the campaign, providing nearly $250,000 in monetary grants to the ten winners selected as part of the Social Innovation Competition, who will also be receiving training and mentoring support over the course of three years to ensure their ideas are transformed into reality.