AUC Venture Lab Hosts its First Virtual Demo Day Event and Graduates 24 New Startups
For seven years, AUC Venture Lab helped aspiring entrepreneurs get the knowledge, training, and funding they need to kickoff their startups. This November, a new round of startups graduated from the V-Lab accelerator programs at its first-ever virtual Demo Day event.
Since 2013, AUC Venture Lab has accelerated 210 startups at zero percent equity thanks to the support of its partners. The graduate startups have created more than 8000 job opportunities, raised 1.6 billion EGP in investments, and amassed 560 million EGP in revenues.
This year’s program, the Startup Accelerator's Arab African International Bank Cycle 14, was supported by the Arab African International Bank (AAIB), the Danish-Arab Partnership Programme (DAPP), Drosos Foundation, Modus Capital, Nestlé, Oxfam, and Shell. The program graduated 18 entrepreneurs who pitched on November 3, while the six Spring'20 graduates of the Fintech Accelerator powered by the Commercial International Bank (CIB) and in partnership with the International Finance Corporation (IFC) pitched on November 4.
“Over the past six months, we pivoted all our programs and activities to continue to support our entrepreneurs virtually. We helped our startups deal with tough questions: ‘How do they continue to operate in this environment? How do they manage their cash-flow? How do they pivot and adapt to new norms?’”, stated AUC Venture Lab Director and Abdul Latif Jameel Endowed Chair of Entrepreneurship Ayman Ismail.
After a rigorous selection process, months of dedicated work, and unprecedented challenges, the graduates pitched their innovative business ideas to a network of AUC alumni, staff, students, and community members as well as corporate partners, investors, and industry experts.
This year marked the biggest Demo Day event in Egypt featuring attendees from around the world and startups from a variety of emerging industries including Healthcare, E-Commerce, Financial Technology, Logistics, Sustainability, Creative Industries, AI, and more.
To know more about the 2020 graduates read Business Forward AUC’s exclusives on this year’s most promising FinTech and sustainability startups, or check out the full Demo Days brochures here (Startup Accelerator) and here (FinTech Accelerator), or take a quick look at the list below.
Startup Accelerator's Arab African International Bank Cycle 14 Graduates:
|A1SmartCam offers private end-to-end cloud-based Video Surveillance as a Service (VSaaS) for enterprises enabling them to analyze products, consumer behavior, and employee productivity, aiming to empower decision-makers in the retail industry.|
|Dopal is an online platform that offers both travelers and locals a curated selection of experiences and activities that enable them to discover the country’s true hidden gems with the help of hundreds of trusted activity providers.|
|WassalNow is a web and mobile-enabled delivery service provider that connects small and medium business owners with freelance delivery personnel, capitalizing on software optimizations that enable next day delivery, instant pickups, and two days cash settlement.|
|Sepia is an accessories brand that aims to keep the Egyptian identity and support local craftsmanship. Their unique designs are inspired by ancient Egyptian myths and beliefs, and their jewelry is made from gold and platinum-plated brass that suits today’s contemporary taste.|
|Logista is a fleet management and delivery solution for businesses, offering crucial insights, route optimization, and efficiency recommendations to digitize logistics and ensure hassle-free day to day delivery operations.|
|Wai is a smart water startup that aims to mitigate water scarcity threats via efficient water resource management. They design, manufacture, and service engineer solutions for water distribution networks using IoT and AI for real-time monitoring, leakage detection, and performance optimization.|
|DUCO is a boutique advertising agency and production house dedicated to urban art and illuminated hand-painted outdoor wall scapes. Through their projects, they help businesses achieve commercial outcomes while contributing to urban aesthetic development.|
|ClickMare is a subscription service offering the low-income segment and uninsured SMEs access to affordable healthcare services through a wide network of medical providers across Egypt. They also generate high-level data to help industry players serve this overlooked segment more efficiently.|
|V Pharmacies is a brand network empowering individual pharmacies in Egypt by offering them access to supply chain and operations channels as well as digital channels to acquire and retain customers, with the aim of increasing their competitiveness in today's market.|
|Duma Toys specializes in the production of soft Amigurumi toys for children, where every toy has a story for its character. By using an ancient Japanese knitting technique, they offer a safe handmade alternative to machine-made toys, free of dangerous plastics and artificial materials.|
|GreenCart.eco is a double-sided e-commerce platform offering a one-stop-shop for a wide range of sustainable alternatives to everyday lifestyle products. Their smart multi-vendor system provides an instant online store for vendors, in addition to marketing, business, and environmental consulting services.|
|The Kind Market is your go-to shop for all eco-friendly products and sustainable alternatives. They are on a continuous mission to create a better shopping experience for consumers and the planet alike.|
|WeCare Eco-Friendly Solutions is a manufacturer and seller of eco-friendly alternatives. The startup designs and produces its own products including biodegradable cutlery and organic food packaging material and sells them through its e-commerce portal and major retailers.|
|Scarabaeus Sacer specializes in sustainable, ethical, premium quality clothing for men and women made of 100% organic Egyptian cotton. The brand also advocates for social and environmental issues.|
|NINE & BEYOND redefines (expectant) motherhood fashion by providing fashionable, luxurious, and adaptable clothing that mothers can wear both during pregnancy and after delivery.|
|Grandyhome is an online store and distributor specialized in kitchenware, tableware, bathroom, bed and home accessories, lighting, and other household products. By capitalizing on a wide base of major brands and having deep ties with the brands' warehouses, they guarantee items are always in stock.|
|Medica Marts is a B2B online marketplace for medical supplies enabling medical institutions to have better access to a variety of products and an enhanced purchasing experience.|
|The Box provides hassle-free boxes for children's physical and mental needs delivered to your doorstep. By offering boxes of carefully selected items that guarantee optimal nourishment and engagement, the brand aims to support parents and help them raise healthy individuals.|
Spring'20 graduates of the FinTech Accelerator:
EddyPay is a payment solution provider that offers a mobile-based solution allowing subscription-based merchants to bill their clients seamlessly.
Pass|App is a mobile access control solution provider that aims to replace keys, plastic and magnetic cars, and all other physical means of identification, access, and payment through their unified mobile application, hardware, and software.
Delivery Shop is a delivery management platform that tackles the pains of the e-commerce sector by offering customized delivery solutions, flexible subscription models, and warehousing services managed through a merchant wallet-based payment solution.
Pianat.ai enables organizations to transform into data and AI-driven decision-makers by offering an easy and fast transformation management practice, a seamless and affordable subscription to a one-stop-shop along with reliable access to data, solutions, and relevant resources.
Mawelny is an online platform digitizing the lending process. It enables customers to inquire, compare, apply for, and secure credit finance deals from partners and financial institutions in an easy and convenient manner.
Goldady is a platform specialized in bullion gold trading. It allows users to buy and sell bullion gold completely online transforming the hitherto over-the-counter dealership business in the Middle East.