Following its successful launch in Jordan in 2018, Arab Bank has launched its fintech-focused corporate accelerator program “AB Accelerator” in Egypt.
The bank’s strategic initiatives to encourage and support innovation in the fintech industry in order to offer responsive and agile banking solutions in line with the increasing demands and expectations of clients across various segments have resulted in the establishment of this program in Egypt.
“AB Accelerator is unique in a way that applies a venture client as well as a venture capital model. “AB Accelerator” provides early-stage startups with a banking and commercial collaboration that not only helps them gain credibility and validate their product, but also allows them to instantaneously tap into multiple geographies. As such, “AB Accelerator” programme encompasses the essence of what a strategic investor is.” said Hala Zahran, Lead of AB Accelerator.
“Over the past two years, we have invested in a global portfolio of startups from the US, Europe and in the Mena region, including startups like Seclytics (Cybersecurity), Tabby (Buy Now Pay Later) Hala Insurance (Digital Insurance).”
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Here Is What You Need To Know
- The “AB Accelerator” initiative seeks to help entrepreneurs scale their market-ready fintech firms across the Mena region by accelerating the adoption of innovative technologies and solutions within the Arab Bank.
- The “AB Accelerator” program, which is driven by this goal, aims to integrate into Egypt’s startup scene by investing in early-stage fintech and related technology verticals, such as cybersecurity and artificial intelligence (AI), with a focus on startups that demonstrate strategic alignment with Arab Bank.
“We are very excited about this new opportunity to connect with promising fintech startups in Egypt, which has one of the region’s most thriving ecosystems for innovation,” Habiba Helmy, Innovation Lead at Arab Bank — Egypt said. “Egypt is home for talented and passionate entrepreneurs who we are eager to collaborate with and, eventually, help in expanding their footprint both locally and regionally.”
The Benefits Of Joining The Accelerator
“Not only will startups be able to receive funding of up to $500,000, but they will also be entitled to a host of unique benefits as part of their collaboration with Arab Bank. These benefits include: creating a customised Proof of Concept to test solutions which could potentially lead to a pilot agreement with the bank, as well as instantly accessing customers and markets across Arab Bank’s regional and global network,” AB Accelerator programme, Helmy said.
How To Apply
Egyptian entrepreneurs interested in joining Arab Bank’s “AB Accelerator” portfolio of startups can apply online at www.abaccelerator.co/apply-now or by emailing hello@abaccelerator.co, which was created exclusively to handle enquiries and application forms.
Arab Bank Egypt Accelerator Arab Bank Egypt Accelerator
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer