UBI Global, a Swedish-based innovation intelligence company and community specializing in assessing and mapping business incubators and accelerators, has released the list of the top challengers evaluated by its World Benchmark Study of 2021-2022.
The Venture Lab, also known as V-Lab, the university-based accelerator of The American University in Cairo (AUC), has been recognized as MENA’s Top Challenger by UBI Global World Rankings 2021-2022 of business incubators and accelerators.
The regional Top Challenger Award is often granted to incubators and accelerators that stand out among respective regional peers and offer exceptional value for their startups and the local ecosystem.
Joshuah Sowah, head of research at UBI Global, said: Following a rigorous data-driven approach, we assessed and benchmarked incubation organizations across the world.
He added: Our study is in tune with the multiple facets of the international incubation ecosystem and illustrates critical challenges and opportunities the participating organizations face.
Ayman Ismail, founding director of AUC Venture Lab, and Abdul Latif Jameel, Endowed Chair of Entrepreneurship at AUC School of Business, shared: At AUC Venture Lab, we work hard to offer our entrepreneurs a world-class experience during and after the program.
The MENA’s Top Challenger Award marks the eighth international recognition for the V-Lab and the fifth from UBI Global. The first university-based accelerator in Egypt also celebrates its tenth anniversary this year.
Since its founding in 2013, AUC V-Lab has been committed to helping entrepreneurs launch, grow and scale their innovative startups while providing a platform for the AUC community to engage with entrepreneurs.
To date, the V-Lab has supported thousands of founders to turn their business solutions into viable, scalable, investment-ready tech startups. The incubator graduated more than 300 startups from its flagship accelerators that created 12K+ job opportunities and raised more than 5 Billion EGP in funding across fintech, logistics, ed-tech, F&B, e-commerce, mobility, green economy, health-tech, and more.