Yomken (Egypt)

Description:

Yomken is the only platform in the Arab region that is specialized in crowdsourcing ideas and solutions for the industrial and societal challenges faced by corporate, governmental and social organizations using its own “Open-Innovation” model.
Additionally, it provides a gateway for financial platforms (VCs, Crowdfunding platforms and others) to get innovative projects to support and/or invest in.

Mission:

To transform the “fahlawa” – which is an untranslatable Arabic word that combines wit with innovation, intuition, resourcefulness and experience – into an economic value added.

Impact and Success Stories:

Yomken received an award from The World Bank’s Youth Innovation Fund (February 2012).

Yomken was also awarded $10,000 at the Doha Prize for Economic Innovation. The prize was awarded to distinguished entrepreneurs or projects that (1) stimulated the business environment for small and medium sized enterprises (SMEs); (2) improved education and training to increase skills and employability; and/or (3) promoted public sector innovation and growth in the MENA region. The Doha Prize for Economic Innovation is one of the few competitions in the Middle East that promotes social entrepreneurship and offers a six-month mentorship program.

Yomken was honored with the World Summit Youth Award in the category “Fight Poverty, Hunger and Disease” in 2013.

Another one of Yomken’s innovation success stories is a project to develop a bike that can fold and be stored where real estate is very dense (which is often the case in crowded mega cities). This type of innovation is real, basic, and fulfills a need for many people but, until now, could not be nurtured and developed because of a lack of a real engine or platform to facilitate innovation.

 

 

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