AUC Venture Lab, funded by AAIB, is the first academic-based incubator in Egypt. Financing the Lab emanates from AAIB's belief system that subscribes to patriotism and empowerment as core values. VLab supports early-stage startups chosen by a selection process that judges aspects of the project such as its novelty, scalability, commercialization potential, and dedication of the team, empowering and facilitating inventive and committed entrepreneurs to reach their goals.
AUC V-Lab enables startups to capitalize on AUC’s world-class facilities and knowledge base, connecting innovative startups with AUC’s alumni network and fostering a thriving ecosystem of innovation, education and business. In 2014, AUC V-Lab has been selected among the top five most promising university incubators in Africa by Sweden-based UBI-Index.
"In 2013, The Arab African International Bank (AAIB) had the leadership and foresight to be among the first supporters of the AUC Venture Lab (V-Lab). Since then, V-Lab has accelerated more than 50 innovative startups creating more than 250 new jobs, and has grown to become the leading university-based incubator in Africa and the MENA region. This year, AAIB will extend its support to V-Lab, focusing on the fast-growing ecommerce vertical. AAIB will provide startups with mentoring and training on best practices in this area, along with the V-Lab services." said Ayman Ismail, Assistant Professor and Abdul Latif Jameel Endowed Chair of Entrepreneurship Director, AUC Venture Lab