Read the full Your Mark on the World article and watch the interview here: http://bit.ly/1TF2AFO. Subscribe to this podcast on iTunes by clicking here: http://bit.ly/ymotwitunes or on Stitcher by clicking here: http://bit.ly/ymotwstitcher. Steve Grizzell, one of the most experienced venture capitalists in Utah is heading to Egypt to help create an ecosystem for entrepreneurship to provide more jobs for young, educated people. He hopes that the model they create in Egypt can be exported to other developing countries. Steve, who runs InnoVentures Capital, says, “Traditional businesses are not creating enough jobs anywhere in the world. This is particularly true in developing countries with a large population of young educated people. The solution being pushed is entrepreneurship. But entrepreneurship occurs within a much larger system. How do you create the system?” He says he’s designing a system to fund entrepreneurs. “I’m attempting to create a funding structure from seed to private equity. I am also trying to put in place the components necessary to mentor entrepreneurs to build significant companies.” Steve, who has lived and worked around the world, makes the case that solving this problem is vital for the future of the world. “Much of the unrest in the world is caused by the lack of opportunity and the subsequent loss of faith that your life will ever get better. Hopelessness leads to revolution which is usually violent like we see in the Middle East today,” he says. Read the full Your Mark on the World article and watch the interview here: http://bit.ly/1TF2AFO. Please consider whether a friend or colleague might benefit from this piece and, if so, share it.
#350: VC To Help Egypt Develop Startup Ecosystem