Finalist

Entrepreneurial University of the Year Award

The American University in Cairo

Finalist of the Entrepreneurial University of the Year Award

The American University in Cairo - Egypt

"Building the region’s next generation of entrepreneurs"


Engage on social media

https://www.facebook.com/aucegypt
(Official AUC Facebook page)
YouTube: https://www.youtube.com/user/auc
(Official AUC Youtube channel)
@AUC
(Official AUC Twitter account)
https://eg.linkedin.com/company/auc-venture-lab
(Linkedin page for the AUC's startup accelerator )

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Summary

Since its establishment in 1919, the American University in Cairo (AUC) has been at the center of the intellectual, social and cultural life in Egypt through high quality education, scholarly research and partnerships with various institutions locally and internationally. The university offers 40 undergraduate, 52 master’s and 2 Ph.D. programs rooted in liberal arts education encouraging students to think critically and find creative solutions to business, economic and social challenges facing the region. As the first private university in Egypt, AUC has been committed to being at the heart of society through various activities that integrate professionals, practitioners, policymakers and learners from different paths and to graduating community members who are engaged beyond the walls of the campus. Nearly a century after it first started, with a growing youthful population in the country and thousands of alumni, AUC recognized how its multi-faceted role as an educational institution to innovators, a leader of a growing community of bright leaders and an accredited institution that corporates and NGOs trust, offered a unique advantage in the entrepreneurship ecosystem. Since 2010, the university has led various entrepreneurship and innovation programs and activities to build the ecosystem in Egypt and inside the university to advance and empower the country’s nascent entrepreneurship space and engage various stakeholders including building a startup accelerator, initiating an innovation hub, offering multiple courses and degrees, fostering research, supporting student initiatives and more.

Key People


Dr. Sherif Kamel
Dean of the AUC School of Business
The American University in Cairo (AUC)



Dr. Ayman Ismail
Abdul Latif Jameel Endowed Chair of Entrepreneurship and Associate Professor at AUC School of Business
The American University in Cairo (AUC)



Dalia Abd-Allah
Senior Director at AUC Innovation Hub
The American University in Cairo (AUC)


Images

AUC Innovation Hub Futures Lab Initiative

Graduating managers of incubators and accelerators from the capacity building program

Corporate visit to AUC Innovation Hub

Partnerships with international universities (including CBS) to facilitate knowledge sharing and make top-tier talent and expertise accessible for startups

Roundtables integrating various stakeholders to discuss opportunities, challenges and collaborations.

Hosting discussions featuring industry experts, academics, entrepreneurs and professionals covering the most timely topics

Regularly organizing retreats for entrepreneurs to network, exchange expertise and acquire useful skills and garner resources

A group photo of the latest accelerator cohort's demo day

IMPACT STORY

Impacting lifes

When Hashim Ibrahim, Saeed Talaat, Walid Abdelnour & Youssef Galal registered for an Entrepreneurship class at AUC, they did not realize that they would start building a business that would serve 20M students!
300B EGP circulate across Egypt’s education sector & few digital solutions cater to such vast movement of funds. Public & private schools rely on parents to adhere to school installments several times a year to maintain their cashflows. Delayed payments, lack of digital payment methods for parents & slow accounting processes make it challenging for schools to manage their cash flows & cover capital expenditures. Seeing the opportunity, Klickit, an online payment management platform, was founded in 2017.
After initial research, validation & MVP development, the team realized they had found a problem worth solving & joined the university accelerator AUC V-Lab to get further support with business design, investment readiness & growth plans.
At V-Lab, Klickit developed its model to offer a secure payment management system for educational institutions & a hassle-free payment experience for parents. They created a comprehensive platform to improve financial processes & empower schools’ financial systems while making payments more flexible for parents.
Klickit’s story showcases the value of AUC’s network in the innovation space. AUC-born technology enabler Paymob was among Klickit’s earliest partners. To-date, 55K schools & 400 private educational institutions with more than 20M students use Klickit’s system, with more than 1B EGP processed through the platform.
Klickit’s founders remain committed to helping aspiring founders & giving back to the AUC community by offering mentorship & participating in classes.

LEARNINGS

Lessons learned

Entrepreneurial institutions are characterised the most with entrepreneurial spirit, a growth mindset and an appetite for innovation. Entrepreneurship support organizations that stand out most are those that remain as agile and as customer-centric as their best startups and keep re-inventing their offerings.

Educational organizations have so much to offer to entrepreneurs beyond traditional classrooms. While knowledge is invaluable, connections to the alumni network, collaborations with the corporate world, investment and exposure opportunities in addition to cutting-edge research can open a lot of doors for entrepreneurs.

FUTURE PLANS

What's coming?

We intend to develop further cutting edge programs and effective interventions to support the growing entrepreneurship ecosystem from the early idea stage and all the way through investment. This year, we also intend to launch the AUC Innovation Hub which will serve as a platform for connecting entrepreneurs with the corporate world and foster corporate innovation.

For previous successful initiatives, we are currently considering different approaches to replicate them across the continent out of our commitment to developing the region and sharing knowledge.

Also, producing further influential research remains high on our agenda, to provide insights, use cases and case studies that empower policy makers, development program designers and investors, helping them understand market needs, and design quality interventions.


KEY STATISTICS

320+

Number of startups accelerated through university accelerator since 2013

$250+ Millions

raised by accelerated startups in investments

12K

jobs created by graduated startups

$1.3 Millions

Invested by angel investment network in early-stage startups and 60 accomplished professionals educated on angel investment and connected with relevant investment opportunities

50

local and international partnerships empowering entrepreneurs with unlimited opportunities

120

managers of national incubators, accelerators and entrepreneurship centers received capacity building program & support

30+

published papers

80K

Arabic-speaking participants from around the region registered for free MOOC

50%

Students attend at least one entrepreneurship course during their enrollment

5

large scale regional summits

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