DMZ Cairo and EBank Team Up to Launch Fintech Bootcamp to Empower Egyptian Startups

- DMZ Cairo, tech startup incubator operated by and located at Universities of Canada, has joined forces with the Export Development Bank of Egypt - EBank in an official signing ceremony attended by EBank's Chairman, Dr. Ahmed Galal and Universities of Canada's (UofCanada) President, Dr. Ramy Sallam. This strategic partnership aims to provide fintech startups with an unparalleled platform for growth by combining DMZ Cairo's established ecosystem with EBank's profound industry knowledge.

Participating startups at the DMZ Cairo Fintech Bootcamp, powered by EBank, will have access to comprehensive support, mentorship, and a vibrant network. In addition to the chance to compete for a cash prize totaling up to 200,000 EGP and fast-track entry into the upcoming DMZ Cairo incubator program, participants will receive in-kind perks and access to exclusive online content. This includes access to a pool of seasoned business and strategy experts, including experts from EBank, who will provide invaluable guidance to startups. These industry veterans will assist in refining strategies, overcoming challenges, and seizing market opportunities, ensuring a well-rounded and transformative experience for all participants.

In an unprecedented move, EBank has partnered with DMZ Cairo by Toronto Metropolitan University to offer selected startups the opportunity to pilot their fintech solutions within a real banking environment. This collaboration allows startups to gain valuable feedback, refine their products, and establish a solid foundation for successful market implementation.

To facilitate collaboration and innovation, selected startups will enjoy the state-of-the-art co-working spaces and meeting facilities at the UofCanada Campus in the New Administrative Capital. This vibrant ecosystem and access to UofCanada's cutting-edge facilities and innovation labs will provide startups with a conducive environment to ideate, collaborate, and bring their innovative ideas to life.

Startups with a minimum viable product (MVP) or proof of concept (PoC) are encouraged to submit their applications before July 15, 2023. Priority will be given to startups whose solutions address money circles, savings schemes, microfinance, instant cash, and portfolio management.

From his side, Dr. Ahmed Galal, EBank’s Chairman, said, “It’s an added value to sign such a collaboration with DMZ Cairo at UofCanada; this agreement reflects our interest in the digital field and supporting startups.”

Dr. Galal added, “Such collaborations will support fintech programs as one of the fastest-growing areas which can enhance our digital programs and solutions.”

Dr. Ramy Sallam, UofCanada President, expressed his enthusiasm for this collaboration, stating, "We are thrilled to partner with EBank to launch the fintech track with DMZ Cairo. This program represents our commitment to fostering innovation, supporting startups, and driving fintech advancements in Egypt. Together with EBank, we believe we can empower startups, provide them with the necessary resources and opportunities, and help shape the future of fintech in the region."

The collaboration between DMZ Cairo and EBank signifies a significant milestone in the fintech ecosystem of Egypt. By combining their expertise, networks, and resources, both entities are poised to create a thriving environment for startups, spur innovation, and contribute to the nation’s economic growth.