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AUC's Venture Lab Challenge: A step towards the incubator

The American University in Cairo (AUC) is planning to launch the first university business incubator in the Middle East.

In support of Egypt’s entrepreneurial sector, the Entrepreneurship and Innovation Program (EIP) of the AUC School of Business is launching the Venture Lab Challenge; a competition that aims at recruiting innovative teams and welcoming them in the university’s incubator, which will be launched in the summer. Winning teams will also receive LE100,000.

Teams participating in the challenge need to pass four stages: First, apply online under, and second, prepare a prototype of the team’s product and pitch it at the demo day to potential investors. The third stage is about finishing the business write-up at the Venture Lab, and in the final stage, teams will have to pitch their business ideas to the judges.

The winning team will be fast-tracked to the Intel International Competition. It will be provided with office space, access to hi-tech labs, facilities and to the investment community of the AUC. The winner will also have access to faculty members, industry experts and legal and technical consultants.

The application deadline is May 18th. Apply here.