Regional impact-centered accelerator Changelabs brings its flagship MENA Fintech Accelerator to Egypt for the first time and announced that the applications are now open for the Fintech for a Future Accelerator, which aims to identify and scale promising fintech startups.
The program, in partnership with SANAD Entrepreneurship Academy, FMO, Disruptech Ventures, and InDrive New Ventures, will provide a dynamic platform for early-stage ventures to scale their innovative financial solutions that empower individuals and businesses across Egypt.
“We’ve teamed up with global transportation leader Indrive’s VC arm and Egypt’s premier fintech VC Disruptech to create a unique program that will shortcut the fintech journey providing startups with direct access to existing fintech leaders, introducing them to new customers, building partnerships, and co-developing products and services for maximum success.” shares Karim Samra, Founder and Managing Director of Changelabs. Karim believes that fintech startups are at the core of increasing access to products and services for Egyptian consumers and businesses, and that they represent a significant proportion of the unicorns coming out of Africa in the last decade.
The Fintech for a Future Accelerator is designed to accelerate the growth of participating startups through:
- Funding Opportunities: Financial investment to support the development and launch of innovative fintech solutions.
- Partnership Leads: Opportunities to connect with potential investors, partners, and customers.
- Coaching & Mentorship: Guidance and support from experienced industry leaders, investors, and entrepreneurs.
Kim Reichel, Chairperson of the SANAD Technical Assistance Facility, said: “The SANAD Technical Assistance Facility is proud to partner with Changelabs to support an acceleration program for innovative fintech companies in Egypt, reinforcing our commitment to fostering fintech ecosystems in our investment countries. Through TAF’s tailored accelerator programs, we empower the most talented start-ups and entrepreneurs to create positive impact, driving innovation and economic growth”.
The program will be offered in a hybrid format, combining online and in-person elements, covering relevant topics such as value proposition, customer acquisition, commercialization, market positioning and milestone planning. Participating startups will receive $25k of AWS funding, tech support as well as design services and more. Upon completing the program, startups will have the opportunity to pitch to investors during Demo Day and will be connected with the ecosystem’s vast network of international investors, industry experts, and partners.
“At DisrupTech, we recognize the necessity of early-stage guidance, making us firm believers in extending 360 support that goes beyond capital injection. We’re proud to be extending such vital mentorship to Egyptian startups with our long-standing partner, Changelabs, as our shared visions work to drive innovation and pave the road to a thriving local fintech ecosystem,” says Mohamed Okasha, Managing Partner at DisrupTech Ventures.
The Fintech for a Future Accelerator is actively seeking applications from fintech startups with disruptive solutions and the potential to revolutionize the financial landscape.
Applications are open until August 1st 2024.
Apply here: https://form.typeform.com/to/M2jHc6y8
