February 1, 2023,
Cairo – The Venture Lab (V-Lab), the university-based accelerator of The
American University in Cairo (AUC), has been recognized as MENA’s Top
Challenger by UBI Global World Rankings 2021-2022 of business incubators and
accelerators. UBI Global, a Swedish-based innovation intelligence company and community
specializing in assessing and mapping business incubators and accelerators, has
released the list of the top challengers as assessed by its World Benchmark
Study 2021-2022. The regional Top Challenger Award is granted to incubators and
accelerators that stand out among respective regional peers and offer
exceptional value for their startups and the local ecosystem.
“Following a rigorous data-driven approach, we
assessed and benchmarked incubation organizations across the world,” says
Joshuah Sowah, head of research at UBI Global. “Our study is in tune with the
multiple facets of the international incubation ecosystem and illustrates
critical challenges and opportunities the participating organizations face.”
Ayman Ismail, founding director of AUC Venture
Lab and Abdul Latif Jameel Endowed Chair of Entrepreneurship at AUC School of
Business, said: “At AUC Venture Lab, we work hard to offer our entrepreneurs a
world-class experience during and after the program. Our offerings have
expanded gradually over the years to serve entrepreneurs at the different
stages and ensure they get the support they need to survive challenges, develop
their businesses and grow as founders. We are grateful to UBI Global for
recognizing the quality of our work and helping us showcase our growing
community’s impact.”
The MENA’s Top Challenger Award marks the eighth
international recognition for the V-Lab and the fifth from UBI Global. The
first university-based accelerator in Egypt also celebrates its tenth
anniversary this year.
Since its founding in 2013, AUC V-Lab has been
committed to helping entrepreneurs launch, grow and scale their innovative
startups while providing a platform for the AUC community to engage with
entrepreneurs. To date, the V-Lab has supported thousands of founders to turn
their business solutions into viable, scalable, investment-ready tech startups.
The incubator graduated more than 300 startups from its flagship accelerators
that created 12K+ job opportunities and raised more than 5 Billion EGP in
funding across fintech, logistics, ed-tech, F&B, e-commerce, mobility,
green economy, health-tech and more.
For the full World Rankings Report 2021-2022 of
business incubators and accelerators, visit www.ubi-global.com/rankings/
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