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  2. AUC Venture Lab, Egypt Ministry of Planning Launch Training Program to Support Entrepreneurship

AUC Venture Lab, Egypt Ministry of Planning Launch Training Program to Support Entrepreneurship

Reem Abouemera
June 13, 2021

The AUC Venture Lab and the Ministry of Planning and Economic Development have collaborated to launch a capacity-building program for business incubators and accelerators

The newly launched program is part of the V-Lab's ongoing collaboration with Drosos Foundation and comes in tandem with the ministry’s Rowad 2030 project, aiming to stimulate and enrich the innovation process and empower entrepreneurs by creating a supportive startup ecosystem and opening up opportunities for job creation and youth participation. IncuDev will help individuals design and establish new incubators and accelerators or develop existing ones.

“We are thrilled to launch this new program in collaboration with the ministry to support the entrepreneurship and innovation ecosystems and empower fresh minds all over the country,” said AUC Venture Lab Director and Abdul Latif Jameel Endowed Chair of Entrepreneurship Ayman Ismail '95, '97. “This partnership is part of our continuous commitment to sharing the knowledge and experience we have acquired over the past eight years. We aim to help Egyptian startups better equip supporting organizations and encourage collaboration between the different entities, especially within Egyptian universities.”

Through the program, the teams behind incubators, accelerators and entrepreneurship support programs all over Egypt will be able to benefit from AUC Venture Lab’s experience as a leading accelerator that has supported more than 200 startups and created over 8,000 job opportunities. In addition, the program facilitates collaboration opportunities to streamline efforts, create a broader impact and allow participants to reach shared goals. The training curriculum offers participants tools and techniques for program development and design, operations and management, and capacity building for the founding team.

AUC Venture Lab is also committed to enriching the entrepreneurship space through training supporting organizations as part of its long-standing collaboration with Drosos Foundation.

“Drosos Foundation believes that supporting an enabling environment for youth to innovate and present viable business solutions to systemic social problems is key to sustainable development. The Foundation is proud to support the AUC Venture Lab to promote partnerships between policymakers and education institutions to pave the way for policy frameworks that enhance this enabling environment for young entrepreneurs,” said Wessam ElBeih, country director of Drosos Foundation.

In addition to the capacity-building program, the announced collaboration includes the expansion of Rowad Meter, a platform that brings together Egypt’s latest entrepreneurship-related data, figures and activities to measure the long-term impact of the program and the development of its participants.