Startups
InternsValley enables startups and students to exchange experience and efforts
Entrepreneurs and SMEs can now rely on talented employees who believe in their mission and form a team on a single mission.
On May 31, 2017, the InternsValley team announced the launch of the second version “BETA” of its matching web platform InternsValley.com, following the success of the initial release “ALPHA”, which began early last year and has attracted 74 emerging projects and 4,900 university students to date.
InternsValley platform aims to connect university students and fresh graduates with entrepreneurs, start-ups and medium-sized companies to work together and exchange experiences. The platform provides students and graduates with opportunity to apply what they have learned in a real world in a practical training, and entrepreneurs on the other hand to build a proactive, passionate team with the ability to challenge flexibly without the cost being a constraint.
While the university student or graduate is looking for a real job opportunity in the field in which he aspires to work in the future or on a specialization that suits his passion and gives him the experience that backs up his academic studies, it becomes difficult to achieve this in practical terms due to the overcrowding of the job market with hundreds of thousands of graduates who are looking for jobs, too.
On the other hand, entrepreneurs of emerging startups are struggling to reach human resources, especially good calibers who can work on their projects without affecting their limited financial resources. Most entrepreneurs avoid building a human resources department during the early startup stages, neither outsourcing the recruitment process altogether to third parties, to save fund for more priority activities. Since financial resources are usually the biggest challenge to growth and stability of any emerging business, reducing the initial labor costs is one of the most creative ways to push these projects forward.
The integration of entrepreneurial market and academic environments in universities helps reduce obstacles for startups, and provides students with opportunities to know and learn about the job market before graduation and the practical skills required for work.
InternsValley.com provides businesses with the ability to post their needs of young talents who are willing to participate in their projects as “interns/trainees” for a period ranging from one to three months or up to 6 months and sometimes up to 12 months. In many cases, permanent employment contracts are subsequently concluded with the employers if the trainees prove their worth, which is also an additional advantage that contributes to opening employment to university graduates based only on professional competence.
According World Bank studies on emerging markets – as in Arab countries, 4 out of each 5 opportunities available in the job market, are provided by small and medium enterprises. Therefore these environments provide great opportunities for training besides easy access to them in contrast with major and global companies.
InternsValley platform is providing a variety of training opportunities through the participant companies from different fields.
Through the initial release of the website, InternsValley team has already been able to achieve this goal in an excellent way and to have great interaction between students and companies on the platform, and to gain appreciation of our effort to connect them to work together. According to the companies that posted training opportunities (Internships / Traineeships) on the our website, the number of applicants was very sufficient, and the candidates were very close to their requirements, which enabled them to choose the best people within a short period of time of “Call for interns!” ad.
The team was able to monitor and evaluate the interaction of users, and to collect their observations and suggestions during the trial period and to take them into consideration during the development phase of the next release, to improve site characteristics and maximize the benefit to them.
The new version enables both student and entrepreneur to reach his goal more efficiently and in less time; here is a brief of the new improvements:
New user interface; featuring a very smooth experience to the user in a simple and easy way, in addition to the enhanced compatibility with most browsers to ensure design consistency for all users.
New student profile; serves as a brief resume that is more appropriate for university students and recent graduates and at the same time replies to questions of the startup and mid-sized companies who are looking for the right candidates. The new profile replaces traditional CVs and expresses the skills of the student in simple and clear way.
New Dashboard: “student’s account”; now includes a notification system that shows updates continuously to the user, such as the status of his application for a particular opportunity, informing him of the transition from the waiting state to reviewing, determining whether it has been shortlisted or has been excluded from the opportunity.
InternsValley team hopes that the new website will appeal to its users and help convey our vision as a link between the academic community and the business world, especially entrepreneurial, to boost interaction between them and to increase employment rates in our countries, release youth energies for learning and innovation, to become a source of talents that contributes to the rise of startups and med-sized companies in the near future, as a means to economic growth of our societies to evolve and flourish.
Al Nashmiah Farms, committed to aiding women burdened by debt and facing the threat of incarceration, offers a novel solution for them to earn their way to freedom. Under the leadership of Razan Harb, motivated by her family’s financial struggles, the farm has become a pivotal force in rescuing those ensnared in the debt trap, providing them with employment and a sense of purpose.
Harb, observing the plight of many women who took loans in hopes of improving their families’ fortunes, only to be overwhelmed by unfortunate circumstances, economic downturns, and oppressive taxes, has established a farm that serves as both a source of employment and a supplier of high-quality produce to major markets.
The farm’s operations include the provision of household essentials, emphasizing the importance of quality through methods such as nitrogen sterilization and the use of healthy packaging. Additionally, Harb has initiated work-from-home opportunities, enabling women to engage in the packing of vegetables and fruits for market and direct sales, thereby offering a sustainable model for economic independence and recovery from debt.
Selina Bieber, the Senior Director of Global Markets at GoDaddy, has predicted a significant increase in Egypt’s e-commerce revenue. By 2028, it could reach $9.88 billion.
Godaddy is forming strategic partnerships and launching initiatives to help local entrepreneurs. These efforts align with Egypt’s digital transformation goals and its Vision 2030.
In an interview with the Arabic financial news “Amwal Al Ghad,” Bieber spoke about GoDaddy’s plans and how they match Egypt’s 2023 strategy. She highlighted the company’s aim to provide effective, easy-to-use digital tools and services. By 2024, GoDaddy wants to serve more customers in Egypt by making its digital tools more widespread.
The company is working closely with the Egyptian government, especially the Ministry of Planning. They are offering training programs to improve the digital skills of startups and existing businesses. GoDaddy’s services in Egypt include domain registration, web hosting, e-commerce solutions, and digital marketing tools.
Recent surveys support Bieber’s positive outlook for e-commerce in Egypt. They show a clear trend towards digital strategies among small businesses. Many are realizing the importance of having an online presence for their growth and success.
As GoDaddy continues its partnerships and supports government digital initiatives, its influence on Egypt’s digital landscape is growing. The company is committed to sustainability and reducing its carbon footprint. It aims not just for business growth but also to contribute to a sustainable and thriving digital economy in Egypt.
The 2028 projection indicates a vast potential for e-commerce, with GoDaddy playing a key role in this digital evolution.
Lendo, a Saudi Arabia-based shariah-compliant debt crowdfunding marketplace, has raised SAR 105 million ($28 million) in Series B funding led by Sanabil Investments, a wholly-owned company by the Public Investment Fund (“PIF”). The round saw participation from Shorooq Partners, AB Ventures and other investors.
Lendo is a Shariah-compliant, debt crowdfunding marketplace that helps pre-finance outstanding invoices for businesses in Saudi Arabia. The platform is a community of creditworthy borrowers and sophisticated investors looking for alternative investments. The platform is licensed by the Saudi Central Bank (SAMA). Lendo will use the funds to support its fast-growing customer base in Saudi Arabia which has grown 3X year-on-year, introduce more innovative financing products, and accelerate market expansion plans.
“With this funding round, we are going to expand into new markets, support new and current customers, and launch new Shariah-compliant products, all the while continuing to innovate the marketplace for digital lending. We are going to make financial services more accessible, affordable, and inclusive for everyone. I am excited to see what the future holds for our company,” said Osama Alraee, CEO, and co-founder of Lendo, who also disclosed its plans for an IPO within the next few years.
Alraee has also expressed his gratitude to SAMA (Saudi Central Bank), Fintech Saudi, MCIT, Misk, and Monshaat for their unwavering support, emphasizing the pivotal role they have played in advancing financial inclusivity and fostering innovation in partnership with Lendo to reshape the financial landscape. Their dedicated efforts in advancing financial inclusivity and fostering innovation have been invaluable to us. We greatly appreciate their partnership in our mission to transform the financial landscape
Commenting on the announcement, Sanabil Investments said: “Lendo is a leading fintech company that is transforming the financial services industry in their specialist area of Shariah-compliant digital lending for SMEs. The Lendo team, especially the founders, Osama and Mohamed, have achieved a significant amount in a relatively short period, and we are eager to join their journey of increasing access to flexible financial solutions in Saudi Arabia and the region at large.”
“The growing demand for alternative, agile, and accessible lending solutions presents a significant opportunity. At Lendo, we are well-positioned to lead the charge in promoting financial inclusion not only in Saudi Arabia but also beyond. By fueling SME growth, we aim to contribute to the realization of Saudi Arabia’s Vision 2030 economic goals and to create a ripple effect of opportunity throughout the MENA region,” said Mohamed Jawabri, COO, and co-Founder of Lendo.
Lendo previously raised a SAR 27 million Series A funding round ($7.2 million) in 2021 led by Derayah Ventures with participation from Seedra Ventures and other investors, bringing the fintech’s total funding to SAR 132 million ($35.2 million).
Since the inception of Dec 2019, Saudi fintech Lendo has processed more than 2,500 financing transactions on its platform, providing over SAR 1 billion ($300 million) in financing to SMEs and generating SAR 140 million ($37 million) returns for investors.
The Small and Medium Enterprise financing landscape in the Middle East and North Africa (MENA) presents a substantial market opportunity as limited financial access continues to restrict the growth of the region’s businesses, with commercial banks hesitant to issue loans to SMEs at scale, resulting in a high percentage of declined financing requests annually. According to the International Finance Corporation (IFC), the SME financing gap is estimated at SAR 19.5 trillion ($5.2 trillion) every year in developing countries.
Lendo’s debt crowdfunding platform aims to bridge the financing gap for SMEs, which aligns with the Saudi Vision 2030 to significantly expand SME lending from 4% in 2018 to 20% by 2030.
The total value of debt crowdfunding in Saudi Arabia surged from 1.4 million SAR in 2019 to SAR 771 million in 2022, marking a remarkable 430% growth, according to SAMA’s annual fintech report 2022.
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