Introduction
Regional impact-centered accelerator Changelabs is launching its flagship MENA Fintech Accelerator in Egypt for the first time. Applications are now open for the Fintech for a Future Accelerator, a program designed to identify and scale promising fintech startups. This initiative is in partnership with SANAD Entrepreneurship Academy, FMO, Disruptech Ventures, and InDrive New Ventures, providing a dynamic platform for early-stage ventures to develop their innovative financial solutions for individuals and businesses across Egypt.
Unique Partnership
"We’ve teamed up with global transportation leader Indrive’s VC arm and Egypt’s premier fintech VC Disruptech to create a unique program that will shortcut the fintech journey,” shares Karim Samra, Founder and Managing Director of Changelabs. "This program will provide startups with direct access to existing fintech leaders, introduce them to new customers, build partnerships, and co-develop products and services for maximum success."
Karim believes that fintech startups are crucial in increasing access to products and services for Egyptian consumers and businesses. He highlights that these startups represent a significant proportion of the unicorns emerging from Africa in the last decade.
Funding Opportunities
The Fintech for a Future Accelerator is designed to accelerate the growth of participating startups through financial investment, supporting the development and launch of innovative fintech solutions.
Startups will have opportunities to connect with potential investors, partners, and customers, facilitating strategic collaborations and growth.
Participants will receive guidance and support from experienced industry leaders, investors, and entrepreneurs, providing invaluable insights and advice.
Tailored Support
Kim Reichel, Chairperson of the SANAD Technical Assistance Facility, stated: "The SANAD Technical Assistance Facility is proud to partner with Changelabs to support an acceleration program for innovative fintech companies in Egypt. Through TAF's tailored accelerator programs, we empower the most talented start-ups and entrepreneurs to create positive impact, driving innovation and economic growth."
Program Format and Offerings
The program will be offered in a hybrid format, combining online and in-person elements. It will cover relevant topics such as value proposition, customer acquisition, commercialization, market positioning, and milestone planning.
Additional Resources
Participating startups will receive $25k of AWS funding, tech support, design services, and more. Upon completing the program, startups will have the opportunity to pitch to investors during Demo Day and will be connected with the ecosystem's vast network of international investors, industry experts, and partners.
Extended Support
"At DisrupTech, we recognize the necessity of early-stage guidance, making us firm believers in extending 360 support that goes beyond capital injection,” says Mohamed Okasha, Managing Partner at DisrupTech Ventures. “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.”
Call for Applications
The Fintech for a Future Accelerator is actively seeking applications from fintech startups with disruptive solutions and the potential to revolutionize the financial landscape. Applications are open until August 1st, 2024.
