Egypt’s first FinTech accelerator promotes 10 startups
Saturday, 06 01 2019, Category: Technology, Country: Egypt
Egypt’s first multi-partner backed FinTech accelerator program Startupbootcamp-Pride FinTech Cairo held its first Demo Day presenting 10 graduating startups to investors, industry experts and entrepreneurship ecosystem stakeholders on the 22nd of May.
SBC-Pride FinTech Cairo’s first Demo Day comes after three months of an intensive acceleration program, more than 180 one-to-one matchmaking sessions, awareness, engineering, validation, pitching, and growth-hacking modules, all resulting in 14 proof-of-concept engagements.
Building on the importance of financial inclusion and its effect on Egypt’s GDP, the 10 FinTech startups will take center stage and pitch their innovative business models and ideas at the Demo Day drumming up further investor interest, actualizing their aspirations in penetrating the Egyptian market.
“With the Government of Egypt’s commitment to financial inclusion and the recent focus on digital finance, FinTech is emerging as one of the key verticals in the country’s entrepreneurship ecosystem,” Managing Director of SBC-Pride FinTech Cairo Ahmed Elsherif says.
As a collaboration between global accelerator network Startupbootcamp and Egypt’s first FinTech-focused venture capital fund Pride Capital, the SBC-Pride FinTech Cairo program provides industry expertise, exposure, and exclusive access to a network of mentors and experts that most early-stage FinTech startups would not be able to access otherwise.
“We are proud to be showcasing the progress of our accelerated startups. We’ve got some innovative ideas and concepts among our 10 startups, from cloud-based retail management, peer- to – peer saving tools to micropayment mobile wallets and automated syndicate services” says Pride Capital Co-founder and CEO, Rami El Dokany.