Innoventures, LLC was founded in 2010, as an innovation platform to bring the wealth of original Egyptian technology ideas to market. These ideas are potentially successful business ventures, with an innovative team behind them, but are missing the correct management and supporting business facilities, such as financing, marketing, etc. Innoventures adopts these project ideas, explores them further, and manages them until they are profitable, high-impact, growing businesses. As such, Innoventures defines its role as technology venture management.
At the core, Innoventures is a venture capital firm. However, we have taken the liberty of making some innovations to our own business model to be more compatible with the Egyptian and Middle Eastern market, to make more efficient use of VC money, and to more effectively identify and support only the most innovative and valuable business ventures. In contrast to a traditional venture capital firm, Innoventures takes a very hands-on approach, adopting many of the projects, during their earlier stages, into its own organizational hierarchy, and managing the details of the project very critically and directly, rather than just providing the owners of the idea with funding and superficial administrative support. Innoventures also provides a shared business resource center, and a support network of entrepreneurs, which affords lower costs for the start-up ventures, and increases their chances of success.
In terms of investment strategy, Innoventures focuses on technology projects, an area of significant attention in the Middle East, but that is still not as developed as it can be in terms of support for entrepreneurs. The founders of Innoventures also believe that innovative projects, rather than projects based around consumer services, will make the greatest economic impact, and so, while they are more risky, stand more of a chance of success in generating higher returns and higher growth in the long-run.