SolarizEgypt - Egypt
Is created to address the energy crisis in the Middle East and Africa by providing a viable alternative to conventional power.
Weight Class: Middleweight
How was your idea born?
Yaseen Abdel-Ghaffar: “Previously I worked for ExxonMobil and our cofounder worked for Shell. However, we soon realized that there was something fundamentally wrong in Egypt with how we provide people with energy. So we quit our jobs and started SolarizEgypt. Now we have more than 50 projects, also in Sudan and Oman.”
What have you learned so far at Get in the Ring?
“I have had so many great experiences here but I think the main thing that I learned was how to shed light on things that really matter in my business. I feel a lot more confident about important parts of my project that I need to focus on.”
What makes your startup different from other solar energy companies?
“Solar energy used to be a big investment for consumers, but we have found a model that cracks the code. Our consumers take a loan at the bank, which gets paid off with the money they save on their electricity bill in 7 years. After that our customers will profit for another 18 years! Our product is also technologically better than other solar products, we combine off and on the grid technologies.”
Is your startup involved in government projects?
“We are involved with a government programme but this is only around 5% of the projects that we are involved with.”
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About Get in the Ring Foundation
The Get in the Ring Foundation is an organization that gives startups a fun and global podium to make valuable connections to innovators to grow and scale up their business. We are active in 100 countries and work together with leaders of entrepreneurship ecosystems around the world. Get in the Ring is known for its innovative format where startups face off in a boxing ring.