January 17th, 2016
Almasaodi review Yemeni success story
Imad Almasaodi , a young Yemeni entrepreneur and the founder of Aqarmap in Egypt, met with the Yemeni Businessmen Club members at YBC on Thursday 3/1/2013.
He stated the importance of entrepreneurship to the economy and that it’s important to differentiate between the two kinds of entrepreneurship. Micro and High Impact entrepreneurship. The Micro one is widespread in Yemen and the High Impact entrepreneurship is not yet. This type has right from the beginning a big vision and can sweep the market in a period of 2-3 years, needs great expertise and skills, and is a high risk.
Venture Finance is a solution to such types of entrepreneurship. There are three types of Venture Finance; Angel Investing, Venture Capital and Private Equity. Mr. Almasaodi gave a brief explanation about the three types.
He also talked about the success story of Aqarmap which he heads mentioning the main factors contributing to their success represented in excellent expertise and skills, a professional balanced work team from businesses and engineers and the most important thing is their insistence facing the different challenges.
At the end of the meeting he encouraged the Yemeni Businessmen to consider seriously the importance of High Impact entrepreneurship specifying the technology field for the long run.
There were many discussions which reflected the interest of the attendees from YBC members. Mr Fathi Abdulwas, YBC Chairman thanked Mr. Almasaodi and said that YBC will take in consideration such initiatives.