Thematic areas: Crowd- funding, innovations.
There are a big number of innovators in the Arab World with creative ideas for new products but there is no mechanism of financial support and suitable marketing for their products. One of the main difficulties facing innovation in the Arab world is the absences of a platform through which innovators can identify the needs of community environmental and industrial challenges even work to resolve it and get at the same time the funding and support needed by the market.
In 2012, Istebdaa’Inc (not Profit Company) launched Yomken. Yomken is an open-innovation and crowd funding platform for the Arab World that tries to bridge the gap between the challenges faced by micro-and small entrepreneurs (the informal MSEs) working mainly in low-tech and informal manufacturing industries (designing new products and upgrading current products and production process) and the innovative ideas and skills of potential problem solvers (graduation projects, innovative solutions from recently graduated engineers, designers, researchers who are looking for a job, the Arab diaspora).
Yomken offers two main Services, which are:
1) Platform for innovation participatory, local companies and government agencies and non- government organizations and small enterprises and micro serve low-tech micro as well as NGOs, where they can put the challenges they face. These challenges range from the development products, modifying the production lines and the use of alternative raw materials.
2) Market, where innovators and creators can publish their projects and innovative patents of their own, as well as market studies because they are tied up with financial institutions for support and/or the required investments, as well as other collaborators and the people of expertise to assist in the development of their projects.
Yomken other services are:
- Innovation and Management Innovation:
- Consulting on innovation and management innovation.
- Follow- up and evaluation of projects.
- Economic analysis at the micro, medium and macro level.
- Technology foresight for business planning.
- Action “generates ideas” of the various blocs to identify the links and possible gabs workshops.
- Data analysis using social network analysis tools, econometrics and other advanced tools.
- Open Innovation Services:
- Design, management of innovation competitions in product design ideas and machining.
- Care calls for other organization to seek as a problem has been studied well and you need a certain party or organization to solve them.
- Create a call to ask for challenges revolve around the subject and that the civil societies and non-governmental organizations working in a particular industry or a specific place or with a certain age group, where Yomken is providing a solution challenges by various sponsors.
The key achievement of Yomken as far as now:
- 78 Projects and inventions have been funded to solve specific challenges in the society. For example, The Egyptian cotton machine and the foldable bike.
- Five different training modules have been established by Yomken for students, innovators, potential entrepreneurs, NGOs, and Civil servants.
- In 2014, Yomken established with governmental bodies such as the Academy of Scientific Research and Technology and the Women Business Development Center.
- In 2015, established a partnership with Assuit University, and signed an MOU with PWC.
- Nahdet El Mahrousa.
- Misr El Khier/ GESR.
- Sadko, Redec, INJAZ Egypt, Catalysis, ARC, Al Maqarr, V-vvorx, Egycom, Schaduf, NEP, GIZ, Violet, Acacias For All and Federation of Economic Development.