Investigating the Educational Background of Successful Startup Founders in Egypt: An Exploratory Study

Abstract

Purpose: This exploratory study investigates the educational background of successful startup founders in Egypt. Building upon the human capital theory, the researcher predicts that factors such as university education and entrepreneurial experience will increase the founders’ prospects of success.

Design/methodology/approach: The researcher surveyed 51 successful startup founders from Egypt. The founders were asked to participate in a self-reported online questionnaire. Descriptive statistics were calculated to describe the sample. Next, Exploratory Factor Analysis (EFA) was performed to discover the underlying factors of the study variables. Additionally, multiple regression analysis was used to investigate the direction and significance of the relationships between the study variables.

Findings: The study found that half of the surveyed sample came from engineering backgrounds. Surprisingly, the findings revealed that the founders who viewed university education as highly valuable in determining the success of startups had less successful startups (B= -0.295, p-value= 0.075). In contrast, the founders who had higher entrepreneurial experiences and viewed this as highly valuable had more successful startups (B= 0.266, p-value= 0.086).

Originality/value: This study has significant implications for aspiring founders, support organizations, universities, and policymakers in Egypt. The findings emphasize the crucial role of entrepreneurial experience in shaping startup success in Egypt. Although this study does not underestimate the role of university education, it calls for a more balanced approach that integrates knowledge with practical experience.