Dave McClure sees big opportunities in Egypt

As investor and co-founding partner of Silicon Valley venture capital seed fund and start-up accelerator, 500 startups, Dave McClure talked to Daily News Egypt to explain his interest in the Egyptian market. He also outlined the investments his company has already made and the process of selection that potential candidates go through.

How are you planning on helping start-ups in Egypt?

Egypt is a very big country with growing opportunities so we think that there are a lot of entrepreneurs here that we’ll be able to explore, create businesses and we’d like to be part of that.

Do you see that there are start-ups in Egypt that have potential?

There are 90 million people in this country, there’s got to be some start-ups who have got their act together.

What do you think is missing in the Egyptian market when it comes to start-ups?

Probably a lack of investing capital that’s available. Probably a need for more mentorship and experience in the region but I think that’s probably manageable, but I don’t think that there’s too much missing. People make excuses about waiting for things to be perfect and so, but I think you’ve got a very fast growing country and lots of people interested in buying products and services.