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During her participation in the Narrative Summit’s Digital Talks “Reshaping Norms”, Injaz Egypt’s Founder & CEO Dina El Mofty: The current period applies to the survival of the quickest versus the fittest.

May 10th 2020, Cairo, Egypt – Founder and CEO of Injaz Egypt Dina El Mofty has predicted that the Middle East region will witness a huge leap in digital transformation in the coming period. Investment in digital transformation, across all fields, is no longer a luxury but an urgent necessity, especially in the digital education sector. Schools have resorted to distance learning during the COVID-19 pandemic despite not being ready for this step. Thus, it has become necessary for the state to join forces with the private sector to formulate educational curriculums and programs that are in line with the global trend of digital education and distance learning at all school stages.

Dina El Mofty’s statements were made during her participation in Narrative Summit’s digital talks “Reshaping Norms” on the global impact of the COVID-19 crisis and ways to create a new reality and a different future in Egypt and the world.

El Mofty added that for the first time, the entire world is facing a common challenge.  Start-ups are facing one of the hardest challenges in managing financial income amid predictions that the coronavirus crisis will persist for a year or more. Thereby, the coming period will witness a practical example of the survival of the quickest versus the fittest, meaning that companies which are the quickest to deal with the crisis – by examining their financial incomes, managing worst-case scenarios, and limiting expenditures as much as possible to maintain cash flow for the longest time possible –  will be able to survive the crisis with their investments intact. El Mofty stressed that companies that cannot cover their costs should firmly continue their business and float until the crisis passes instead of taking further measures which can contribute to more losses.

El Mofty stated that through her work at Injaz Egypt, she offers support and financing to Egyptian entrepreneurs and help them develop their skills to equip them for the labor market. She strongly stresses that start-up companies, during this period, should reevaluate their capabilities, points of strength and the added value they can provide to their clients through innovative products.  Start-ups, by their nature, face challenges with innovation and out-of-the-box ideas, particularly with the new trend of using digital transformation and solutions in businesses. Out of every crisis, a new opportunity is born, which can be observed in start-up companies that witnessed the 2008 financial crisis, and how they are some of the major companies today.

El Mofty affirmed that one of the positive outcomes for small and medium enterprises from the current crisis is the experience in dealing with similar crises and how to manage finances and investments. It will also make companies and entrepreneurs more cautious in setting their priorities and show more persistence and perseverance in achieving success in their projects.

Sources:
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