Changelabs, the regional impact-centred accelerator, is expanding its MENA Fintech Accelerator to identify and scale fintech startups in Egypt.
The Changelabs fintech accelerator programme looks to provide a dynamic platform for early-stage ventures to scale their innovative financial solutions that empower individuals and businesses across Egypt. Changelabs has joined forces with SANAD Entrepreneurship Academy, FMO, Disruptech Ventures, and InDrive New Ventures, to deliver the programme.
Chaneglabs also explained that it believes that fintech startups will play a crucial role in increasing Egyptian consumers’ and businesses’ access to products and services.
Karim Samra, founder and managing director of Changelabs, said: “We’ve teamed up with global transportation leader Indrive’s VC arm and Egypt’s premier fintech VC Disruptech to create a unique programme that will shortcut the fintech journey providing startups with direct access to existing fintech leaders, introducing them to new customers, building partnerships, and co-developing products and services for maximum success.”
Applications for the programme are open until Thursday 1 August, with participating startups set to benefit from $25,000 of AWS funding; networking opportunities with new potential investors, partners and customers; as well as coaching and mentorship from experienced industry leaders, investors, and entrepreneurs.
Kim Reichel, chairperson of the SANAD Technical Assistance Facility, also commented: “The SANAD Technical Assistance Facility is proud to partner with Changelabs to support an acceleration program for innovative fintech companies in Egypt, reinforcing our commitment to fostering fintech ecosystems in our investment countries. Through TAF’s tailored accelerator programs, we empower the most talented start-ups and entrepreneurs to create positive impact, driving innovation and economic growth.”
Backing Egyptian fintechs
The programme will combine online and in-person features, covering value proposition, customer acquisition, commercialisation, market positioning and milestone planning.
Alongside funding, participating startups will receive tech support as well as design services. After completing the programme, startups can pitch to investors during a ‘Demo Day’ and will connect with the ecosystem’s network of international investors, industry experts, and partners.
“At DisrupTech, we recognise the necessity of early-stage guidance, making us firm believers in extending 360 support that goes beyond capital injection. We’re proud to be extending such vital mentorship to Egyptian startups with our long-standing partner, Changelabs, as our shared visions work to drive innovation and pave the road to a thriving local fintech ecosystem,” added Mohamed Okasha, managing partner at DisrupTech Ventures.
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