What We Do
AUC Venture Lab is Egypt’s first university-based incubator and accelerator at The American University in Cairo. The lab enables startups to capitalize on AUC’s intellectual capital, world-class facilities and research capacities. It connects innovative startups with AUC’s network that includes alumni, faculty, mentors and investors. Through this, it fosters a thriving ecosystem of innovation, education and responsible business.
The mission of the AUC Venture Lab is twofold: to help Egyptian startups commercialize their innovative technologies and business models into viable ventures that contribute to economic growth, competitiveness and job creation; and to provide a learning and research platform for the AUC community to connect with entrepreneurs.
AUC Venture Lab targets startups that are high-growth and innovation-driven. These are selected through a rigorous process based on the novelty of the idea, scalability and commercial potential as well as the team’s track record, cohesion, tenacity and commitment to success. Selected startups play an active role in the AUC community, sharing their entrepreneurial experience with students and staff. They also contribute to Egypt's growth and competitiveness.
The AUC Venture Lab acceleration program runs in two cycles per year where each cycle includes around ten startups. The Lab provides these startups with an intensive acceleration experience for three months, followed by a longer incubation cycle of a year.
- Co-working space at AUC New Cairo, with access to campus facilities
- Extensive business training by AUC faculty members and industry experts, starting with an intensive boot camp
- Mentoring and coaching from AUC’s extended network, including access to faculty as mentors and/or consultants for frequent consultations
- Frequent networking events with industry leaders and eco-system partners
- Assistance with professional services such as HR and recruitment, communication, operations, marketing, governance and legal assistance
- Access to students: for testing products, class projects, and interns
- Access to other AUC facilities upon request and agreement, such as the AUC library, engineering labs, multimedia labs, film/production labs, and other services
- Access to the AUC professional network: includes faculty, alumni, mentors and investors
- Access to potential investors through the AUC network
- LE 20,000 seed capital award
AUC Venture Lab in numbers (as of April 2017)
- Eight acceleration cycles completed
- 85 startups accelerated
- 1,470 mentoring and training hours by 122 mentors
- LE 43 million generated in revenues by startups
- LE 27 million raised in funding by startups
- 432 jobs created
For more information, visit our FAQ page