Eight start-ups graduated from the 1864 Accelerator programme, a joint programme directed at financial technology (fintech) start-ups between Barclays Egypt and Fla6Labs, according to a press statement.
The start-ups that concluded the business acceleration cycle were Bees365, Card Switch, Save it, Olly, Yala Nsadar, Carsurance, Entej, and Moneyfellows.
Managing director of Flat6Labs Cairo Willie Elamien said that the first cycle of the accelerator highlighted the remarkable existing talents in Egypt, and the huge opportunities present in the field of financial technology.
The statement added that the participating startups received training programmes and mentoring sessions to help them implement their ideas, as well as financial and technical support, office space, technical supervision, and legal consultation.
Nancy Bassiouny, head of digital channels and innovation at Barclays Bank Egypt, stated: “The programme aims at supporting and encouraging emerging businesses and projects, as well as contributing to the development of creative ideas introduced by young businesses in different fintech services.”
The final ceremony of the programme, known as the 1864 Accelerator Demo Day, was held in conjunction with RiseUp Summit, an entrepreneurship event that took place from 9-11 December in Cairo.