AlexBank has signed a partnership agreement with Startupbootcamp (SBC) and Pride Capital to launch and bring the SBC-FinTech Cairo programme to the forefront of the world’s leading FinTech Accelerators.
The programme launch was announced during a press conference attended by CEO and Chairperson of Pharos Holding, Elwy Taymour, Chairman of Pride Capital, Rami El-Dokany, Cofounder and CEO of Pride Capital, Ahmed Sherif, CEO of SBC- Egypt, and AlexBank’s Head of Marketing and PR, Ramy Taha.
The Fintech accelerator programme is considered the first of its kind in Egypt, and will sustain 11 start-ups, both from Egypt and abroad, to accelerate the Central Bank of Egypt’s goal of making Egypt a global FinTech hub.
Through this partnership, AlexBank, is seeking to support the creation of an environment that nurtures FinTech start-ups and exposes them to real world banking challenges.
The intensive six-month programme provides 11 selected FinTechs, which were selected from over 100 applicants, with hands-on expertise in business model development, mentorship from industry experts, and access to a global network of investors and corporate professionals from across the financial industry. FinTech Cairo is highly focused on accelerating start-ups in the most challenging fields of payments and transfers, capital markets, consumer banking, microfinance and sustainable development.
Managing Director and CEO of AlexBank, Dante Campioni, expressed his pleasure to support the SBC-Pride Fintech Cairo programme, given the Egyptian government’s commitment to financial inclusion and to digital services’ promotion. “The programme can give rise to innovations able to significantly impact the Egyptian financial sector, as our goal is to bring to light the incredible potential of these FinTech solutions to banks’ customers and augment this via the power of big data and our unique multi-channel approach,” he added.
AlexBank has taken an active engagement role to ensure that FinTech Cairo grows into an active breeding ground that will see both financial and banking mentorship, business simulation mapping and systems integration come together, to achieve a high success rate of commercial Proofs of Concept (POCs). AlexBank is also taking a marketing driven approach in providing day-to-day documentary coverage, entrepreneurial profiles, vlogs, and much more.
“Collaboration is crucial in this present innovative space, in order to achieve momentous results. For this reason, Pride Capital joined forces with SBC to establish Egypt’s first of its kind multi-partner backed FinTech accelerator programme, SBC Pride FinTech Cairo,” said Cofounder and CEO of Pride Capital, Rami El-Dokany.
He added that AlexBank was the first to back the program once it was implemented. “AlexBank is not just a branding partner, but rather an execution partner which mentors, supports and executes POCs with the start-ups. AlexBank shares our vision of elevating this growing ecosystem, to ensure financial access to the population currently and in the future.”
The programme is supported by industry-giants, AlexBank, Ayady, Export Development Bank of Egypt, the German Agency for International Cooperation and Sustainable Development (GIZ), Pharos Holding, SANAD, and Visa in order to ensure a true industry-driven accelerator programme.