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The Venture Lab, AUC’s accelerator/incubator program, has recently opened the door for submissions for yet another cycle. The 'Cycle 3, Fall 2014' program will pick eight to ten of the most promising startups around. The Venture Lab is currently undergoing its second cycle with seven startups looking to complete the twelve months journey, consisting of a two months selection phase, followed by five months of acceleration, and another five for incubation. The demo day is scheduled for September.

The Venture Lab was launched in June 2013 as part of the Entrepreneurship and Innovation Program at AUC and focuses on early stage and growth stage startups. Its mission is to commercialize technologies and innovations developed by Egypt-based startups into commercially viable ventures. AUC Venture Lab companies are expected to contribute to economic growth and job creation in Egypt.

The program offers its startups unique assets and resources by capitalizing on AUC’s intellectual capital, world-class facilities and research capacities, network of alumni, faculty, mentors and investors. For instance, Venture Lab startups can access AUC’s students for products testing, class projects, and interns. The startups also play an active role in AUC community, sharing their entrepreneurial experience with students and faculty.

The first cycle carried six startups, we had reviewed four of them: Alkottab, El-Shāhbandar, Mubser, and Zimoro. Now the second cycle includes seven, they are:

Tatweer: a social business whose mission is to upgrade and develop underutilized trade channels, starting with the street kiosk. Its first venture, Project "Kiosk Uplift," will establish the largest network of kiosks across Egypt with modern retailing and merchandising. Tatweer will design and manufacture a new kiosk that optimizes branding and sponsorship for kiosk suppliers and maximizes profits for kiosk owners. It will leverage the kiosk’s public location and professional appearance to spread awareness of public recycling campaigns and community initiatives as well.

Madad: an online platform that provides a directory of sustainable development projects in Egypt. The platform provides potential donors with a gateway to financially support projects that appeal to them, and in turn track the use of their donations and follow the execution of the projects. Madad effectively behaves as a connection between project managers and donors, identifying high impact sustainable development projects, creating promotional videos and marketing materials for the projects, all of which are listed on the platform. It brings transparency and accountability to Egypt’s civil society sector, and improves the chances of long-term strategic development contributions.

EduTKs: EduTKs develops interactive educational tools for children that are both fun and engaging. Its first product is “Boody”, a talking teddy bear appropriate for ages one and up. The robotic teddy bear is programmed in such way that its mouth and body mimic human motion with words and music. Boody is programmed with six different lessons, three in Arabic and three in English.

Axology: or the “Science of Accessories”, is a product innovation firm that designs and builds accessories to optimize security and efficiency in cargo handling. The firm is a major supplier to Vodafone, for whom it designed custom-made locks to protect its custom display units from theft in 300 stores across Egypt. Additionally, Axology developed an anti-shock protector for the same company that keep mobile devices safe while being shipped across Egypt to its maintenance center in Cairo.

Bus Pooling: a subscription based busing service that transports commuters between home and work. After submitting a request, Bus Pooling matches individuals living in the same area who share a similar work location and working hours and supplies them with a bus scheduled to meet these needs.

DoubleVee: short for verification and validation, is the first Egyptian company that specializes in software testing. DoubleVee performs functional, performance, operational, and security testing services according to international best practices and standards. Additionally, the firm provides training for companies looking to do internal testing and develops test automation services for products and applications available across multiple domains.

Singleclic: a creative digital agency that builds bespoke websites, develops software, delivers mobile applications, and assists with online marketing strategies and implementation. Singleclic primarily targets real estate development firms and event management companies which require management technology to enhance organization and technical synchronization during events.

The Third Cycle

Venture Lab applications for Cycle 3, Fall 2014 are currently open. The latest batch of startups will be comprised of eight to ten of the most promising teams. Applicants will be judged based on the novelty of the idea, the team’s track record and cohesion, scalability, and the potential for commercialization as well as the team’s tenacity and commitment to success.

Selected teams will receive 20,000 Egyptian pounds in addition to all the perks and privileges we mentioned above. Those include office-space and business trainings, as well as free transportation. To apply, simply follow this link.