Ayman Ismail ‘95, ‘97, the Abdul Latif Jameel Endowed Chair of Entrepreneurship, associate professor in the Department of Management and founding director of the AUC Venture Lab, and Heba Elsewedy, founder and chair of Ahl Masr Foundation, will be speakers at AUC’s midyear commencement ceremonies. Ismail will be speaking at the graduate ceremony on February 15, and Elsewedy will be speaking at the undergraduate ceremony on February 18.

Watch all commencement speeches live here. 

Ayman Ismail

Ismail is an international expert in entrepreneurship and venture capital with a focus on economic development in the Middle East. He leads a research team that analyzes global entrepreneurship across more than 100 countries and is designing programs to promote entrepreneurship in the Middle East. 

Ismail encourages an entrepreneurial spirit in Egypt as the founding director of the AUC Venture Lab, Egypt’s first university-based startup incubator and accelerator. The Venture Lab was recognized as a high-impact university business incubator in Africa (2014) and MENA (2015) by UBI Global. Under his leadership over the past eight years, the lab has accelerated more than 250 startups, raised more than EGP 3 billion in investments collectively and created more than 8,000 jobs. 

Ismail is a former research fellow at the Harvard Kennedy School and received a PhD in international economic development from Massachusetts Institute of Technology, where he also received a master’s degree in city planning and geographic information systems. He earned a bachelor’s in engineering and an MBA from AUC. 

Heba Elsewedy

Elsewedy founded the Ahl Masr Foundation in 2013 with the goal of treating, preventing and researching trauma and burn injuries. With a background in business and entrepreneurship, Elsewedy was inspired to begin community service work after witnessing an increased number of injuries during the events of January 25, 2011. 

Elsewedy’s foundation is the biggest nonprofit of its kind in the Middle East and Africa –– a testament to her dedication to civil service and humanitarianism. Elsewedy has helped more than 4,000 victims in Egypt and assisted families of victims from conflicts in Libya. In 2016, she began building the Ahl Masr Hospital as the first specialized nonprofit treatment and research center for burn and trauma injuries in the Middle East and Africa. 

Elsewedy holds a bachelor’s in English literature from King Abdul Aziz University and was awarded an honorary doctorate from Cape Breton University, Canada, in 2016.

“MICT has granted me opportunities in almost all fields of a successful business. Whether it is sales, supply chain, marketing, HR, or IT they all depend on analyzing data. It has given me opportunities to do internships in FMCGs such as PepsiCo, as well as the office of the Minister of Youth and Sports. The major has given me the capabilities of being a Project Manager, which requires you to understand both the business and the technical aspects of the project. I am currently a graduating senior in my last semester, and I can’t wait for the opportunities yet to come.” - Ahmed Yakout, MICT undergraduate student.

Since 2009, the AUC School of Business has been offering the Bachelor of Business Administration in Management of Information and Communication Technology (MICT) in collaboration with the AUC School of Sciences and Engineering. The program provides its students with a balanced blend between business and technology – something that the School saw as incredibly vital for the job market and the economy of this day and age.

Graduating senior Yakout recounted the story of how he ended up majoring in MICT.

“At the beginning of my journey in AUC, I declared computer science as I have been a technology and gaming fanatic since a very young age,” he began. “But, as time passed by, during my sophomore year I realized that I was also interested in business, and I wanted to explore that field, especially as AUC School of Business has the Triple Crown Accreditation and is considered among the top 1 percent of business schools in the world.”

He recalled: “I remember the day when a friend of mine, an MICT graduate, introduced me to professor Dina Rateb, one of the pioneers of the MICT major at AUC and who jointly introduced the major in the academic year 09/10. I met her at a time where I was lost in terms of what I want to do in my career and what major I wanted to study. She introduced me to the world of MICT, and I realized that it perfectly combines business administration and computer science. It made me utilize my passion for technology and start thinking of it from a business perspective, which opened for me a lot of doors and opportunities in both fields.”

Hana ElMalky, also a graduating senior majoring in MICT, shared a similar vision.

“MICT is a great major that bridges between business and computer science. It provides students with an array of diverse skills that are vital for today’s business from programming, using sophisticated programs to promote business objectives, understanding and analyzing customers and business needs, up to launching projects,” she explained. 

“I chose this major because the knowledge and skills being taught open up many opportunities in my career. I am not constrained in working in certain jobs but rather free and equipped to work in many different areas,” she underlined.

The combination of two disciplines allows the students to tap into different fields. For Hana, MICT provided her with the advantage of understanding different perspectives from both the business and the developers’ points of view.

“In one of my past internships, I had to use both my business knowledge and technical computer  skills to create a new management system for a company. At another internship, I used my business knowledge to create a marketing plan for a launch of a new product,” she told us, adding: “In terms of career, this major equips me with a sound foundation, in which I am free to explore different opportunities.”

“Technology has become a vital part of business in order to adapt and survive in the increasingly competitive market. Thus, it has become more and more important for students to have a basic understanding of technological advancement before entering the workforce,” highlighted ElMalky.

Ahmed also echoed this thought: “I believe that the MICT major is crucial in this day and age as almost all businesses rely on information systems and data analytics. Without data analytics, it is extremely difficult to make a well informed business decision, especially for big corporations.” 

“I believe that those who grasp both the business and technical aspects are those who will become the leaders of successful businesses of the future,” he concluded.

Learn more about the Management of Information and Communication Technology major at AUC School of Business here.

Many firms around the world consider the marketing function to be the powerhouse of their enterprises, whether it is providing firms with advertising and communication efforts or a pipeline for new product innovations that can allow businesses to address evolving consumer preferences and capture new markets, or providing valuable consumer insights that can be of benefit on a cross-functional level. Marketing is indispensable and should be at the heart of any business, guiding its commercial activities.

“Doing business without advertising is like winking at someone in the dark. You know what you are doing but nobody else does.” – Steuart Henderson Britt, professor of marketing and advertising. 

“When I heard this quote for the first time in one of my marketing-related courses, I truly recognized the importance of marketing,” highlighted Salma Ghanem ‘22, a recently graduated business and marketing alumna. She continued: “The business world is all about selling products and providing services. You cannot achieve this if you do not have a sound marketing strategy that helps your product penetrate and be known to your target market, only then will you be able to capture sales and have a thriving business.”

It is worth noting that Ghanem was recognized amongst the top-performing business students during the 2022 Recognition of Excellence Ceremony (REC) as she earned the highest GPA in Marketing for the class of Spring ‘22.

Noreen Zenhom, a business and marketing undergraduate student, also had similar views on the importance of marketing. She stated: “I believe that marketing is a core function of any business, even if a business’ line of work is technical, like construction companies, for example, they would still need to market for their services and products and communicate their unique selling point.” She added: “In essence, if no one knows about a business, then the existence of this firm will be idle no matter what field it operates in.”

Decisions concerning which university to attend are pivotal in the eyes of any high school graduate’s life, and they usually entail a lot of thought and deliberation. “When I was considering which business school I should pursue my bachelors from, I found that AUC School of Business was the most reputable and credible option, from my point of view, due to the School’s prestigious triple crown accreditation,” said Ghanem.

Zenhom also expressed similar thoughts stating: “I chose to study marketing at AUC School of Business because it is well renowned, and I believed it to be the top business school in Egypt.”

She also elaborated on what she believes is special about studying marketing at the School. “I believe what’s unique about studying marketing here is that we get very hands-on experience through business simulations that are a requirement in some courses, which mimic real-world situations, and through examining real business case studies,” she explained.

“While taking on a recent internship, I noticed how the quality of education at the School has allowed me a head start and an edge, knowledge-wise, compared to other interns from different universities. I felt much more prepared because of what I had already learned throughout my time at AUC School of Business so far,” continued Zenhom.

Ghanem also shared a similar sentiment. “I believe what is exceptional about studying marketing at AUC is that there is an emphasis on learning topics and concepts that are actually applicable to life after graduation and in the workplace,” she said, adding: “Reports I have worked on for marketing-related courses have landed me several internship opportunities as the employers that asked for samples of my work, were surprised by the level of quality with which those reports were produced.”

“I believe the AUC School of Business is keen on cultivating a culture of integrity, self-expression, curiosity, and creativity in its students,” said Ghanem.

“My time at AUC so far, which included working in groups on projects and assignments and needing to think outside the box sometimes, has pushed me towards growth,” stated Zenhom.

Author’s Note:

To conclude, I would like to briefly share my own personal thoughts about being a marketing student at the AUC School of Business. I believe that all the marketing-related courses further ignited my long-standing passion for marketing I have taken at the School so far. Additionally, my knowledge was truly enriched. Similar to Ghanem and Zenhom's experiences, having gone through internships, I can also testify to the applicability of the knowledge we learn through the courses and how they truly make you stand out amongst a crowd of candidates. I believe by the time I graduate; the School will have fully equipped me to enter the job market as a knowledgeable, agile, and well-rounded individual.

Learn more about the Marketing major at AUC School of Business here.

Studying finance allows one to understand the principles of making sound investments, how to manage one’s assets, how to evaluate financial resources, how to acquire the maximum return on investment, and more, which are all essential when navigating through and trying to succeed in our prevailing overall capitalist world system. 

“The importance of finance to businesses has increased as a result of the spread of innovative technological services, the extraordinary expansion of banking, and the interconnectivity of the world's economy,” stated Farah Mouneer, business and finance undergraduate student. 

She also added: “In addition to being vital for today's job market, specializing in finance greatly impacts how a person's career develops if their interests lie in creating budgets, forecasting, borrowing, and investing which is what makes finance interesting for me.”

Engy Ghoneim, a business and finance undergraduate student, also chimed in with her views on the importance of the study of finance. “Sometimes, I am surprised at the fact that I never learned about financial principles during my time at school. I wonder how I would ever be able to manage in this world without having some of this vital financial knowledge I do for my personal and professional life,” she elaborated.

She continued: “This is why I believe that majoring in finance helps to broaden one’s mind, aids them in becoming more financially mature, and allows one to think outside the box when it comes to finding sources of income.” 

Another remark was made by Mouneer relating to the importance of studying finance. She stated: “Finance is at the core of every business, whether it is a start-up or a large corporation, as it is about knowing how to allocate the money available in the most efficient way.

She further added: “Studying finance will not only help you improve your analytical skills; moreover, it will help you understand the policies applied by the government.” 

“I chose to study Finance at AUC School of Business specifically because of how prestigious the school is, having a triple-crown accreditation and top-tier professors from the field, including former ministers of finance and even chairmen of international banks,” explained Ghoneim. 

She continued by stating: “We truly get to grasp a real-life experience relating to the field by learning from our professors or the numerous opportunities that AUC provides us as students to attend conferences, talks, and workshops with industry leaders.”

“I believe that studying finance at the School will offer me various employment opportunities that will aid me in my dream of becoming a financial analyst.” Expressed Mouneer. 

Moreover, Ghoneim touched upon the opportunities that were channeled to her through studying finance at the AUC School of Business. “The facilities and services provided by AUC to its undergraduate students allowed me to get internships at large corporations like Allianz Insurance and even the Ministry of Finance,” emphasized Ghoneim. 

She added: “Due to the summer abroad programs provided by AUC, I also had the chance to study finance abroad at the London School of Economics, which was an enriching experience.” 

“The mindset we adopt through learning financial concepts such as forecasting returns and building financial models has taught me to be persistent, accurate, and an overall critical thinker. These attributes are not merely applied to financial excel sheets but can be applied on a personal level in one's life as well,” highlighted Ghoneim as a closing remark. 

Learn more about the Finance major at AUC School of Business here.

“Economics is in everything around us, sometimes without us even realizing it. Economics takes part in helping us plan for the future, make decisions and try to understand the complexities of the power dynamics surrounding us.” – Jessica Michael, economics undergraduate student. 

The study and application of economic models and concepts play an instrumental role within various fields, whether in business, government, or social organizations. Economics allows us to make informed decisions about development plans, pricing strategies, and more within organizations. Additionally, economics is interrelated with matters that largely impact our daily lives, such as inflation, taxation, and societal inequity and aims to resolve and create policies that mitigate any predicaments that arise within these matters.

Hanya Sedky, an economics undergraduate student, very eloquently elaborated on the importance of the study of economics. She stated: “In our current times, all priority topics and issues have a close relationship with the field of economics. In fact, given its versatility, it relates to a plethora of other fields and would help build the analytical skills required in workplaces in the future.”

She added, "More specifically, in light of the ongoing conflicts and the pandemic, having an economic background would highly enhance one’s understanding and ability to anticipate future repercussions.”

Many individuals go into their high school years intending to major in a certain domain. Still, then their initial plans are derailed when they find out they are not well-suited for their major of interest or could potentially be better suited to a different field of study. 

This was Michael's experience. She highlighted: “Initially during high school, I wanted to be an engineer but then I realized I was more suited to pursue economics as my major. As cliché as it sounds, I now cannot imagine myself studying anything else besides economics.”

She continued: “From writing papers to playing with econometrics or doing some econometrics coding, during my study of economics, I have found myself doing a combination of many things that I enjoy.” 

Finding a major that allows you to channel your passions through it is of the utmost importance. 

Sedky touched on this matter. She explained: “I have been contemplating majoring in economics since I was in high school. It is very nuanced because its applications can range from quantitative to developmental fields.” She continued: “Thus, I felt it was a merge of two things I am very passionate about and had already started exploring at a young age: numbers and development.”

“Through my journey of studying economics, I was able to seize opportunities I believe I would never have had access to if I majored in anything else. I had the chance to participate in global events involving national and international ministries, and I have also had the chance to cooperate with reputable stakeholders such as the United Nations and the UNDP to conduct projects,” emphasized Michael's. 

Similarly, Sedky also underscored how she had reaped the benefits of studying economics. She stated: “I believe that the knowledge I am receiving from my major would be paramount in building a strong background that would help kickstart my career.” 

She continued: “The background I gained about issues like poverty, unemployment, inflation, sustainability, and their relevant reform policies, serves as a key factor that would allow me to perform efficiently in my career. I have been witnessing this during my internships, and most recently as a trainee in the Ministry of Planning and Economic Development.”

Furthermore, Hanya shared her thoughts on why she chose to major in economics at the School. “My initial plan was to travel abroad to continue my studies, but with the pandemic setting in, I stayed in Egypt after finishing high school. At that point, I knew that choosing the AUC would be the right thing to do given its esteemed reputation in economics studies,” Explained Sedky. 

She added: “Many peers of my age had also highlighted to me how fruitful their experience was as economics students studying at the School. Therefore, I was excited to join the major at the School with full trust that I would gain a lot of experience and knowledge.”

As a conclusion to her train of thought, Sedky stated: “Studying economics at the School has helped me improve my analytical skills. In addition, I believe that my experience in the major has been extremely eye-opening as I got to learn about a variety of topics that deeply influence our society and need to be addressed.” 

She finalized her concluding statement on a more personal note: “I believe that my passion for a career in development affairs has grown to an immense level as I grow fonder of economic and social issues while I navigate through the major.”

Learn more about the Economics major at AUC School of Business here.

“It is a common misconception that one must be born with typical ‘entrepreneurial’ qualities such as risk-taking and determination, however in actuality, entrepreneurship is a mindset that can be taught and integrated within education systems; drive, decisiveness, and determination are all qualities that can be fueled by programs that support youth and nurture this mindset.” – Yasmin Tarek, business and entrepreneurship undergraduate student.

According to the 2021 entrepreneurial spirit index published by IPSOS, 29 percent of Generation Z were ranked as having a very high entrepreneurial spirit. According to The Egyptian Ministry of Communications and Information Technology’s (MICT) 2021 Egyptian Startup Ecosystem Report, Egypt has the fourth largest startup ecosystem in Africa, with at least 562 tech startups in operation across the country as of September 2021.

These numbers are just a few of the endless statistics indicating the new generation’s huge appetite for entrepreneurship, especially in Egypt. But what does this mean for a business school? How can you study entrepreneurship? And what do educational institutions have to offer aspiring entrepreneurs?

Tarek is not only a business and entrepreneurship major, but she is also the CEO of the student-run Entrepreneurs' Society.

“Through my experience, I truly believe that regardless of a student’s predefined educational pursuit (whether you’re enrolled in a science or arts degree), entrepreneurship allows an individual to shed those extra layers of caution and rigidity, thus revealing someone authentic, agile, and autonomous,” articulated Tarek.

“At its core, AUC School of Business fosters creativity and innovation, transforming a student from a youthful bud with a thirst for knowledge to a flourishing confident adult that is well-rounded and courageous,” she continued.

Graduating senior Maged Khalaf, shared his thoughts on why he thinks it is important to study entrepreneurship in this day and age.

“Now is a time where there is a lot of innovation and shifts in consumer behavior as well as the structure of businesses and their purpose,” he said, adding: “Learning and studying entrepreneurship helps future managers and entrepreneurs to better themselves their community and the country as a whole by understanding pressing needs, innovating for a more sustainable future and avoiding malpractice.”

“As a student majoring in Business Administration (and concentrating in International Finance), I believe that my preexisting thirst for knowledge was flawlessly supplemented and supported by the School and its entrepreneurship courses, thereby allowing me to further unveil ambitious qualities and thrive within the entrepreneurial ecosystem,” said Tarek.

She added: “Within my educational pursuit, I found my path and my purpose, crafted meaningful connections with like-minded individuals, and infiltrated the entrepreneurial ecosystem — all in a short span of four years.”

“I've learned a lot from entrepreneurship, especially with regards to creating a new business or firm as well as entrepreneurial activities in mature industries,” expressed Khalaf.

He continued: “The focus shifts from traditional management to management of innovation and it has an effect on how I approach certain issues and problems, as well as the level of risk I can and am willing to take.”

To supplement her studies, Tarek made the best out of the realm of opportunities offered to the students of the School.

“Competitions, courses, and certifications have all played a crucial role in signifying my ambitious character; the opportunities are endless, and being a Business Administration major student means that I am immersed within an environment that enables me to craft my own version of success and flourish within the workforce or entrepreneurial ecosystem,” she explained.

Tarek concluded by stating how the AUC School of Business, in particular, has aided her career and ambitions.

“The School has created a nurturing environment, allowing me to excel in my academic pursuit and evince the entrepreneurial mindset. I have been able to flourish as an individual and unveil ambitious qualities within myself to reveal someone knowledgeable, open-minded, and capable of excelling at leadership. 

Learn more about the Business and Entrepreneurship major at AUC School of Business here.