Meet Egypt's new entrepreneurship magazine: Ideaneurs
Entrepreneurship is about failure just as much as
it is about success. That's the idea behind Ideaneurs, a new monthly
magazine that launched last month to feature the ideas and
talents of 10 young “ideaneurs” in each issue. Each issue will
feature the failures that led these entrepreneurs to success,
says founder and CEO, Ahmad Issa of Invenst Ventures
Boutique.
Before supporting entrepreneurs, Essa began his career as an
industrial engineer. After working in the marketing field for
several international companies outside of Egypt, he returned to
Egypt, and founded Invenst in 2011. The support organization offers
training and services for ventures with a social impact, to help
them attract venture investment.
The main purpose of Ideaneurs, then, is to serve as an
entrepreneurship ambassador, revealing Egyptian talents to
foreigners and potential investors, while also hopefully inspiring
Egyptians to launch more startups. Essa hopes that by revealing the
team behind a given company, Ideaneurs will serve as a bridge
between investors and companies.
The current issue of the 110-page magazine includes 10 profiles of
entrepreneurs, a "Mentors Corner," which offers a advice from a
coach or investor, and articles on self-confidence and other skills
that any entrepreneur should cultivate. It also includes a job
offers section, popular projects in a “What’s Trending” section,
and finally a “Matchmaking” service to connect business owners and
investors. That last service allows business owners to directly ask
for funding, specifying the equity offered in return.
The current issue also includes an infographic on the
entrepreneurial journey, including its stages and the obstacles
founders face. Each issue is printed in English each
mid-month, and will be freely distributed in universities,
gathering areas and cafes in Cairo. The magazine will also be
available for download, and the
Ideaneurs team is trying to develop a volunteer distribution
network for outlying provinces, eventually scaling to other
countries in the region as well.
Why insist on print?
In a digital era, Essa maintains that print
hasn't lost its popularity yet, while websites are plentiful and
hard to differentiate. Numerous websites that achieved initial
success have rapidly closed, he points out.
The magazine, however, intends to quickly expand and build an
interactive community between readers. In its first stage, Invenst
will print 2,000 to 3,000 copies, intending to increase to 5000 in
the coming months. Despite his aversion to a fully online
publication, Essa intends to then build the website into an
interactive platform where those interested in entrepreneurship can
interact and form partnerships.
Thus far, the magazine depends upon advertisements for revenue; it
will break even by the third issue next July, Essa hopes.