If the Nile river represents the blood of Egypt, then coral reefs represent its heart. Generating around USD 7 billion a year from diving and snorkeling-related activities, Egypt’s coral reefs are not just an important source of tourism revenue, but also an important source of life for marine ecosystems; protecting coastlines from storms and erosion, providing habitats and shelter for underwater organisms, and providing essential nutrients for the marine food chain. Globally, over half a billion people across different industries also rely on coral reefs for food, income, and protection. Entering the vast marine industry market is now no longer limited to large companies, but also young entrepreneurs. Budding entrepreneur Aly Magdy, 28, who is the founder and CEO of Seavo, is one of the few who are rethinking marine electric mobility – a topic that is rarely discussed or advertised in comparison to electric urban mobility. As the first designer and manufacturer of environmentally friendly watercraft, Seavo’s vision, according to Magdy, is to become the “marine version of Tesla”; to provide an eco-friendly alternative to fuel-based marine products, which are more affordable and more accessible to a wide range…
How Egyptian Startup Seavo Is Leading the Shift Towards Electric Water Vehicles
June 4, 2022
