1. What is the Venture Lab?
The AUC Venture lab is the first university-based incubator/accelerator in Egypt. We provide support to early stage startups that have innovative businesses, based on a rigorous selection process.
2. How do I apply for an acceleration cycle?
The AUC Venture Lab program runs two cycles per year. Our process starts with an online application that you will have to fill out as well as a screening process and an interview that you will have to attend, followed by another screening process. After that, you will have to pitch your business idea to a panel. If you’ve made it until here, you will get accepted into our acceleration program, followed by our incubation program. To apply to our next cycle, please follow this link.
3. When will the application form for the next cycle be online?
Like our Facebook Page, AUC Venture lab and follow us on Twitter @AUC_Vlab to know when the applications are open.
4. Do we need to write a business plan for applying?
No, it is not one of our requirements. However, you will have to know different aspects about your buisness, such as your market size, your target market and value proposition.
5. Will you sign an NDA? How do I know my idea won't be stolen?
No, we do not sign an NDA. Your business idea will be shared within a small group of your peers and mentors for the sake of improving your business model. We expect our community to respect the intellectual property of our entrepreneurs. We also believe that execution is more important for the success of the startup.
6. What are the required criteria to apply to one of your cycles?
The AUC Venture Lab targets startups in their early stage, who have made progress on the launch of their products/services, rather than those with just an idea. We focus on three main categories in selecting our incubated startups; the innovation of the idea, the team's background relevance to the startup as well as the team's dedication and willingness to learn.
7. Our group has two ideas. Can we submit two applications?
Yes, you can submit two applications but whichever one that gets accepted will require you to work full time on it. We also target startups in their early stage, who are about to launch their products/ services, rather than those with just an idea.
8. Will you fund multiple startups working on the same idea?
We never accept startups that tackle the same problem in an identical way. We always make sure the problem is tackled from a different angle.
9. Can we do it without moving to where you are?
Unfortunately, you will have to be committed to work from our co-working space for the duration of the acceleration cycle.
10. Do we have to be AUC students or alumni?
No, we welcome entrepreneurs from all over Egypt.
11. How can we get funding for our startup?
AUC V-Lab provides a small seed fund to help in the early stage of the launch. After the demo day, we connect promising startups with our angel investor network as well as venture capital firms and other investors.
12. We don't want to be accelerated, but will you give us advice?
Yes, but it depends on the time of the needed consultation and on our availability. You can always contact us through our social media pages.
13. I'm starting a startup. Can I meet with you?
Yes, but it depends on the time of the needed consultation and on our availability at that time. You can always contact us through our social media pages.
14. Do you accept late applications?
We usually open a late application round, howver the selection process in that round becomes more rigorous.