As a partner, the VC firm will contribute to the programme’s success.
During this fall’s Demo Day of the AUC Venture Lab accelerator programme, an announcement was made commiting Modus Capital to join the team of partners and investors at AUC Venture Lab. Modus Capital is a hybrid Venture Capital (VC) firm originated in New York City, and have recently set-up their operations in Cairo. In addition to investing in startups, they help solve operational & technical pain-points the startups face and support them to reach their next milestones.
"We are very proud to partner up with AUC Venture Lab. We are committing a combined one million dollars to startups that graduate from AUC Venture Lab in the coming cycles over the next three years. We will also be collaborating with V-Lab on their workshops, training opportunities and events. We look forward to working with startups coming out of V-Lab and to forward collaborations," says Aly Khairy, Venture Associate at Modus Capital.
AUC Venture Lab also works closely with AUC Angels, the region's first university-based angel investment network, which is focused to support the venture lab’s effort with investment gained from various angel investors enrolled in the network. As part of their mission to fill the gap in the investment industry, AUC Angels offers early-stage startup with much-needed initial funding. AUC Venture Lab is Egypt's first university-based startup accelerator, with over 170 startups graduated under its belt, through its Startup Accelerator and Fintech Accelerator programmes. Their 16-week programme supports early-stage, scalable and innovative startups in a variety of industries including financial technology, e-commerce, energy and environmental sustainability, health innovation, creative, and more.
"We are producing a lot of startups but we're also losing many of them to competing markets that are competing for our talent and the reason we are doing that is because we are not able to offer them an environment that will help. We have a gap in the early stage investments. We have several VC funds that are starting to put money in the market but we have a gap in the early stage 200,000 - 500,000 dollar investments," says Ayman Ismail, AUC Venture Lab Director.
Two Egyptian startups and graduates of the programmes, Jinni and DentaCarts, have already gained follow-up investment, just within a month, which attributes to the dedication and support they have received upon successfully exiting.
AUC Venture Lab offers entrepreneurs intensive business training, one-on-one coaching, industry mentorship and through its newest partnership with Modus Capital, the chance to tap into exclusive investment opportunities for 0% equity.
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