The AUC Venture Lab at the American University in Cairo (AUC) has graduated 12 incubated startups from its fifth cycle, with the ventures showcasing their products and services to investors and other stakeholders.
Launched in 2013 as the first university-based incubator in Egypt, the AUC Venture Lab has so far worked with 46 high potential startups and helped them launch their businesses.
The latest cycle saw 12 incubated startups – Azamoka, Chalkfii, Dshirts.me, Escape HD, Frien10, Korsatk, Koshk Comics, Omash.com, Payme, Pesos, Rakna and Windrose – graduate, with the AUC Venture Lab describing them as “innovative and promising startups driven by excellent teams”.
Karim Seghir, dean of AUC’s School of Business, who attended the event, said the VentureLab had been launched to translate technologies and innovations into commercially viable and scalable ventures, thereby contributing to economic development and job creation.
“I am glad that, despite its young age, the AUC Venture Lab has incubated very promising and innovative startups which will definitely become successful, scalable and impactful businesses in Egypt and the Arab region,” Seghir said.