Recently, I had the pleasure of sitting down with Margreet Magdy for a great conversation on ???The Shawaly Show Podcast??? about entrepreneurship in the MENA region.
Margreet has been a powerhouse in the startup world for quite some time, playing a key role in shaping the landscape by supporting startups and creating partnerships that fuel innovation. What really struck me was her unique perspective on building a thriving entrepreneurial ecosystem—and why not everyone needs to be the one in the spotlight to make a big impact.
- Ecosystem Builders: Margreet made a great point about the unsung heroes of the startup world—ecosystem builders. These are the mentors, advisors, and partners who help startups grow, often without getting any recognition themselves. It’s a refreshing reminder that success isn’t always about being in the spotlight; sometimes, it’s about enabling others to shine.
- Entrepreneurship: Risk and Reality: Margreet and I talked about the real meaning of entrepreneurship. Spoiler alert: it’s more than just securing that flashy CEO title. According to the Global Entrepreneurship Monitor (GEM) 2023 Report, fear of failure still holds back 40% of entrepreneurs globally, with MENA facing even steeper barriers due to economic instability. Margreet’s emphasis on taking calculated risks couldn’t be more timely—entrepreneurs must solve real problems, not just chase the next big thing.
- Calculated Risk: Margreet highlighted that entrepreneurship is about finding opportunities and tackling challenges strategically. According to McKinsey’s Global Startups Report, 44% of successful entrepreneurs focus on improving existing products or services rather than reinventing the wheel. It’s about smart risks and calculated growth, not reckless gambles.
- Fundraising is Not the Goal: Fundraising is often over-glamorized, and Margreet believes building a solid business foundation is far more critical. This aligns with data from the Harvard Business Review, which shows that around 70% of startup failures aren’t due to lack of funding but rather poor market fit and flawed business models. So, while raising money might seem like the goal, it won’t fix the core issues of a shaky business.
- The Need for Diverse Roles: Lastly, Margreet shared how the entrepreneurial ecosystem needs diversity—not just in gender or background, but in roles. Founders are important, but so are mentors, investors, and advisors. The World Economic Forum notes that the MENA region has one of the fastest-growing startup ecosystems, yet the support infrastructure (mentors, accelerators, etc.) needs to grow to meet demand. Margreet is a prime example of how crucial these roles are.
For anyone considering starting a business or playing a role in the startup world, this conversation with Margreet is packed with insights. From taking smart risks to focusing on building a support network, it’s a reminder that entrepreneurship is about more than just the title or the funding—it’s about building something meaningful and sustainable.
Listen to the full episode ??. I’d love to know—are you an entrepreneur, a mentor, or somewhere in between? Let’s chat in the comments!
