Egyptian innovation on campus is to receive a boost in the right direction following the opening of the country’s first university business incubator the American University in Cairo (AUC).
The AUC Venture Lab, established by the institution’s School of Business, will look to assist in the commercialisation of technologies coming out from the university, as well as supporting startups. As with other incubators, the Venture Lab will provide access to mentorship, working space, business training, and potential avenues of fundraising.
Lisa Anderson, AUC president, said: “The business incubator at AUC’s School of Business provides a space for young Egyptian entrepreneurs to develop innovative business ideas and solutions to some of the most pressing problems in our community and around the world. AUC is proud to provide the mentorship and support network that will give these talented young people an opportunity to make their dreams a reality. Already, the Venture Lab has produced companies that have developed valuable products to address real-world problems.”
The incubator’s first four-month round will begin with seven teams later this month.
