Following its successful launch in Jordan in 2018, Arab Bank has recently launched its FinTech-focused corporate accelerator program “AB Accelerator” in Egypt.
The bank’s strategic efforts to foster and support innovation in the FinTech sector in order to offer responsive and agile banking solutions in line with the evolving needs and expectations of clients across various segments have resulted in the launch of this program in Egypt.
The “AB Accelerator” program aims to help entrepreneurs scale their market-ready FinTech startups across the MENA region by accelerating the adoption of emerging technologies and solutions within Arab Bank. With this goal in mind, the “AB Accelerator” program 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 particular focus on startups that demonstrate strategic alignment with Arab Bank
“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,” said Hala Zahran, lead of AB Accelerator.
From her side Habiba Helmy, Innovation Lead at Arab Bank – Egypt remarked: “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.” She added: “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.”
Selected startups will receive up to US$500,000 in funding, as well as a slew of other benefits, including a custom Proof of Concept to test solutions that could lead to a pilot agreement with the bank, and instant access to customers and markets across Arab Bank’s regional and global network.
Egyptian entrepreneurs interested in participating in the program can apply here.