In partnership with the Economic Research Forum (ERF), we are pleased to announce the second round of the Youth Essay Competition, and the launch of the Call for Essays titled ‘Entrepreneurship: Tackling Social Challenges’. The Essay Competition is implemented as part of the World Bank’s Youth Engagement Technical Assistance, which aims to promote and mainstream youth inclusion in Egypt through the World Bank portfolio. The goal of this Competition is to give young Egyptians the opportunity to develop constructive and innovative solutions to address existing development challenges in their country.
Launched through the World Bank office in Cairo, this competition aims to support voice and agency of young Egyptians, whilst leveraging the ideas and innovations led by young people in tackling the social challenges in Egypt. The competition is open to all Egyptians up to the age 30, and invites youth to submit a 2,500 word solution-based essay (in Arabic or English) presenting innovative solutions to promote (social) entrepreneurship and tackle social challenges in their communities.
Finalists will be present their essays at an Award Ceremony in Cairo to an audience of policy makers, sector specialists and other stakeholders. The winners will be selected during the event. The five winning essays will receive a financial reward and essays will be published on the World Bank and ERF websites.
Deadline for submission is the 30th of March, 2017
A dynamic Private Sector and Entrepreneurship are vital for growth, economic development, and job creation. In the current socioeconomic context, social entrepreneurship can play an important factor in the growth recovery for Egypt. Social entrepreneurship builds on solutions that are driven by individuals, rather than the state. It responds to market demand and addresses the needs of people, thereby creating a social benefit.
Against this backdrop, the Economic Research Forum and the World Bank are pleased to announce the second round of the “Youth Essay Competition”. In this round, young Egyptians are invited to submit essays presenting innovative solutions to promote (social) entrepreneurship and tackle social challenges in their communities. Deadline for submission is March 30, 2017.
Problem Statement: International comparison, the rate of new start-ups per year is very low in Egypt and recent data shows that Early-Stage Entrepreneurial Activity is stagnating at a very low 7% between 2010 to 2015 (Global Entrepreneurship Monitor Survey).
Participants are encouraged to present solutions to promote entrepreneurship ideas with social impact. Ideas can address a range of topics, and should fall in one or several of the below categories:
· Fin-Tech: For example, new solutions for E-Payment, E-Banking, Finance and Micro-Finance
· Energy Efficiency: For example, how can a social enterprise help reduce the energy needs for providing goods and services? How can innovative techniques be applied to transform waste into a sustainable energy source?
· Infrastructure: For example, solutions that can help Egypt’s largest cities transition towards becoming smart cities. How can social enterprises connect and improve access to basic infrastructure and public services for marginalized citizens?
The essay competition offers recognition and financial awards. In addition to a certificate of achievement to all finalists, you will be able to present your idea to an audience of policy makers, sector specialists and other stakeholders. The best five essays will be published online by the World Bank and by the Economic Research Forum on their websites. The author of the best essay will receive 20,000 Egyptian pounds. The second, third, fourth and fifth place winners will be awarded 15,000; 10,000; 7,000 and 4,000 Egyptian pounds, respectively.
For more information please click "Further Official Information" below.
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