Mohamed Abul-Naga Nagaty: Startup Growth is a Journey, Not a Leap, and AI is Reshaping the Future of Work

In a world where entrepreneurship is changing super fast, entrepreneur Mohamed Abul-Naga Nagaty shared that building a startup isn't about quick jumps. Instead, it's about steadily gaining experience and working consistently, which might seem slow at first but can lead to sudden, game-changing growth when you least expect it. Nagaty explained this during a panel discussion at The Marketers League event, held at the Grand Egyptian Museum. He highlighted that building companies doesn't follow fixed plans or perfectly predictable paths. It's more about making gradual progress through small steps that add up over time to make a real difference in a company's journey. He pointed out that some tough, unexpected moments can actually become turning points for startups. He gave the example of Careem's early days in the Egyptian market, where unforeseen challenges actually helped them expand their reach and strengthen their presence. He added that entrepreneurs can't always pinpoint the exact timing of a “big opportunity.” However, continuously working and improving the product remains the most crucial factor for achieving rapid growth. Moving on, Nagaty also talked about how Artificial Intelligence (AI) is impacting the business world. He firmly believes AI will reshape startups in the coming years. He expects to see “unicorn” companies emerge with incredibly small teams, perhaps just three or four people, or even a single founder, all thanks to the growing reliance on AI tools. He noted that these changes will help speed up company building and cut down on operating costs. But at the same time, they'll create big challenges for the job market, as the need for some traditional roles within organizations decreases. Nagaty shared an experience from one of the companies he's involved with. After implementing AI-powered updates, about 100 jobs were no longer needed due to reduced operational requirements. He clarified that this decision was a response to changing market dynamics, not an aim to cut staff. He stressed that AI has lowered the “barriers to entry” for starting new businesses, leading to an unprecedented increase in competition. He mentioned that companies can now achieve rapid growth if they successfully reach what's known as “product-market fit.” He also highlighted several successful examples of Arab entrepreneurs in global markets, especially with the current boom in the AI sector. He noted the expanding use of AI agents in customer service centers, explaining how they can perform tasks more efficiently and reduce human errors, prompting companies to rethink their operational teams. Nagaty recalled another part of his experience with Careem, explaining that building trust in the brand was one of the most important growth factors. This was especially true through strategic partnerships, like their collaboration with Vodafone, which helped boost Careem's image in the Egyptian market early on. He pointed out that seeing both brands together helped solidify customer trust in Careem at a time when its business model wasn't fully understood. This played a big role in speeding up its expansion and supporting its position later on. Nagaty concluded by emphasizing that the shift towards AI is redrawing the global entrepreneurship map. Success is no longer tied to team size or resources; instead, it's all about how quickly you can adapt and build products that compete in a market changing at an unprecedented pace.