Fintech Galaxy, the UAE-based open innovation platform, is teaming up with the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) to launch a new accelerator program aimed at preparing Arab tech start-ups for cross-border expansion.
The Yalla Xtech program – which will initially focus on Egyptian and Jordanian tech start-ups – is aimed at supporting entrepreneurs and tech start-ups to grow beyond their borders, adding to the start-up ecosystems and especially to innovation, competition and employment efforts in the host countries towards the Sustainable Development Goals (SDGs). The program will help promote cross-border inclusion and knowledge sharing and provide start-ups with the necessary tools, resources, and network contacts to help them expand to Jordan or Egypt successfully.
Powered by Fintech Galaxy’s cloud-based open innovation FinX22 platform, the program will also help speed up the financial inclusion of local communities and businesses in Egypt and Jordan. The FinX22 platform complies with the best international technical standards and will offer an open banking API sandbox that will enable tech start-ups in Egypt and Jordan to develop, test and deploy their apps.
During the two-month Yalla Xtech accelerator program, selected start-ups will be provided with coaches, legal and regulatory guidance, networking opportunities and other tools that will help them prepare effective expansion strategies and master their growth journey across country borders.
Speaking about the launch of Yalla Xtech, Mirna Sleiman, Founder & CEO, Fintech Galaxy, said: “We are proud to team up with GIZ to be able to support entrepreneurs and start-ups across the ecosystems of Jordan and Egypt and their ability to expand across borders. The Yalla Xtech program highlights our commitment to creating a common regional digital space for better connectivity that helps speed up the process of digital transformation and moves the needle in financial inclusion through collaborative innovation.”
The accelerator is open to technology and tech-enabled start-ups that are based in Jordan or Egypt, have a genuine or competitive product or service offering in their home market, and ready to expand.
