AUC's Venture Lab Holds Demo Day for 13 Startups and Celebrates Fifth Anniversary

The School of Business’s Venture lab (V-Lab) at The American University in Cairo held a Demo Day on Monday April 30 to showcase the products and services of 13 incubated startups graduating from V-Lab’s two programs, the Arab African International Bank Cycle 10 and the Spring'18 FinTech Cycle, in celebration of its fifth anniversary and the incubation of over 100 startups.

The incubated startups in the Arab African International Bank Cycle 10 are CubeZy, VIA, DentaCarts, INDOTS, YallaSa7el, FilSekka, Sports of Egypt, Badgewell, Owls, and Pixellion. Three startups, Q-Less, Hood, and YallaPay, incubated in the Spring'18 FinTech Cycle, also showcased their products and services.
Dean of the school of business Sherif Kamel said that the Venture Lab will continue to engage with the ecosystem’s various constituents through developing partnership agreements and collaborating with associations, networks, mentors, investors and sponsors as well as capitalize on AUC’s intellectual capital across different fields and disciplines on and off campus to support young and promising entrepreneurs who can make a difference.

“The collaboration between AAIB and AUC Venture Lab marks a unique alignment between financial and academic institutions for the interest of entrepreneurs. We strongly believe that innovative youth are the key drivers of Egypt’s future growth,” said Hassan Abdalla, Chief Executive Officer of the Arab African International Bank, “As a main driver in the Egyptian economic scene, the financial sector must play a role in empowering the entrepreneurship ecosystem in the country.”

AUC Venture Lab is the first university-based incubator in Egypt that aims to commercialize technologies and innovations developed by Egypt-based startups into commercially viable ventures. It also allows the startups to use the facilities of AUC and the database of the University to create a link between the alumni network and the startups. On the Demo Day, startups present their work and are evaluated based on milestones achieved during incubation.