New NGO with a revolutionary concept - Alchemy World to trigger a step change in Ethiopian economy

    /24-7PressRelease/ - February 15, 2007 - Oxford/Addis Ababa - Poverty alleviation through social entrepreneurship, focusing - for the very first time in Ethiopian history - on Information Technology: This is the new revolutionary idea behind Alchemy World, a new Charitable Foundation based in Addis Ababa and Oxford. Launched today, the unprecedented concept behind this Non Governmental Organization (NGO) will radically alter the economic situation in the country.

By the development of an education to employment infrastructure Alchemy World will strengthen the economic self-sufficiency of the country. The goal of the organization is to establish a thriving Information and Communication Technologies (ICT) sector in the country that will drive the nation's exports in services and hi-tech goods to rival countries like India. Within five years it is estimated that Alchemy World will have spawned around 400 new software development and technology companies, providing wealth through employment to an excess of 6000 young Ethiopian men and women. Providing our funding targets are achieved by 2014 export sales through this initiative will have reached $1.2Bn.

"I have been carefully planning Alchemy World since the late nineties, when I could see how I could get the powerful and fast paced ICT sector to leverage in favor of developing countries. The initial feasibility pilots have already shown promising results in Debark and Bahar Dar", said Founder and President, Carlo Tortora Brayda di Belvedere. "Being half Ethiopian and having the means, I have always felt a strong sense of duty towards Ethiopia."

Tortora Brayda was born in Rome in 1969, from an Italian father and an Ethiopian mother. After his degree in the UK he founded Advanced Alchemy, the leading ICT sales development company covering the Europe, Middle East and Africa (EMEA) region. Tortora Brayda was awarded several UK Entrepreneurship awards, including a "Shell Livewire Young Entrepreneur of the Year Award" and others in 2000 and 2001. Advanced Alchemy client base includes IBM, Microsoft, Sun Microsystems, Sony and Nokia. These companies along with many others will be the key to the expected success of Alchemy World, the new charitable arm of Advanced Alchemy.

Through the distribution channels serving these global manufacturers, Ethiopian start ups will have immediate access to a worldwide sales network. From its office locations in Addis Ababa, Bahar Dar and Gondar, Alchemy World mentors will coach young entrepreneurs from poverty stricken rural areas in cutting edge business management and commercial strategies. Vice-President level personnel from the leading IT manufacturers have committed to volunteering as Alchemy World mentors. "Alchemy World will truly make an impact in the fortunes of Ethiopia. I'm happy to be part of this ambitious project", said Mike Englander, Former Vice-President Sales of Indigo (now Hewlett Packard Indigo).

"This initiative is has been well received countrywide and will have a powerful impact on the future of our country", said His Imperial Highness Prince Yokshan Makonnen Haile Sellaise, great grandson of the late Emperor, who is on Alchemy World's honorary board.

Alchemy World is a revolutionary non-governmental, non-profit organization fighting against the mechanics of poverty.

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