AUC Venture Lab Awarded Top Challenger in Middle East & North Africa 2019-2020 by UBI Global
Publicized on November 6 at the World Incubation Summit, the announcement came under the World Benchmark Study 2019-2020, a worldwide study that includes the World Rankings Report and marks quality and achievement for business incubators and accelerators.
The regional Top Challenger Award is granted to incubators and accelerators that stand out due to impressive overall impact and performance achievements related to respective regional peers. The ranking granted to the V-Lab is based on the value provided for client startups and the local ecosystem as well as the overall attractiveness of its programs. Holding three previous UBI recognitions, AUC Venture Lab is the only Egyptian accelerator recognized among 1,580 programs assessed this year.
“Following a rigorous data-driven approach, we assessed and benchmarked incubation programs across the world,” said Holger Meyer, director of research at UBI Global. “Our World Benchmark Study 2019 - 2020 is in tune with the multiple facets of the international incubation ecosystem and illustrates key challenges and opportunities faced by the participating programs.”
UBI Global is a Sweden-based research company specializing in mapping, highlighting and connecting the world of business incubation. Since 2013, UBI Global’s World Benchmark Studies map the proliferation and assess the impact and performance of business incubators and accelerators in the global entrepreneurship ecosystems. Their research empowers participating organizations to benchmark their capacity to create value for their ecosystems, their client and alumni startups, and for themselves.
Since its founding in 2013, AUC Venture Lab has graduated more than 170 startups spanning sectors including energy, e-commerce, fintech, healthcare, and creative industries. Through intensive programs and business coaching, V-Lab helps passionate innovation-driven entrepreneurs turn their solutions into viable businesses. It has helped in the creation of more than 1,500 jobs and its startups have raised more than 1.5 Billion EGP worth of investments.
“Egyptian entrepreneurs are reshaping the Egyptian and regional economy through their innovative and daring startups. V-Lab is proud to be a part of the support ecosystem and to accelerate cutting edge solutions and growth aspirations of its entrepreneurs”, comments Ayman Ismail, AUC Venture Lab director on the award.
Such recognition stands to testify the V-Lab’s impact and performance and further motivates them to work harder and raise the bar not only for themselves but for the AUC School of Business as well, which will continue to have entrepreneurship at the core of its mission.