We invest in up to 10 startups per year through two cycles of the Accelerator. The number of companies selected for the direct investment track every year will depend on our ability to identify highly qualified applicants.
Early-stage and seed-level startups are eligible to receive up to EGP 1 million in funding through our Accelerator program while later-stage startups can apply for up to EGP 5 million in funding through our direct investment track.
We interview teams and assess them based on idea quality, market size, team readiness and approach.
We require each startup to have at least two founders, one of whom must be committed to the project full time.
No, you don’t have to be Egyptian. Our only requirement is to have a presence in Egypt.
Complete our online application form.
Please submit your business idea and pitch deck to us via email at apply@efgfintech.com
Visit our website regularly for the latest announcements and updates about the application cycles or follow us on social media.
It takes time to fairly review every application in detail. If we select your business during the initial review stage, we will contact you to schedule an interview. If your business was not selected, we will let you know this via email. Please do not contact us to ask about the status of your application.
The EFG EV Accelerator program lasts four months and culminates with a Demo Day at which top-performing startups pitch to investors for additional funding. We work with our direct investment companies over a longer period of time to help them achieve the series A funding stage.
We identify the key needs of each of our startups in the areas of processes, management, and funding. We work to help you meet these needs.
For the duration of the program, our startups will receive four months of shared office space with high-speed internet. Our full-time support staff will be available to help you develop our capacities in areas from business development to HR management to growth strategy. We also connect you with high-profile mentors in a variety of fields and facilitate numerous training sessions. Additionally, our support staff will advise you on issues related to company incorporation, taxation, and other legal issues. We also offer advice and strategize to help you with your fundraising efforts.
Yes, to ensure that our startups have the ability to take full advantage of all resources and support offered through the program, we require you to be primarily based in Cairo for the duration. The EFG EV Accelerator program is a major commitment that all companies must undertake in order to receive funding.
Hood provides a device for users’ cars that is synced with Hood’s mobile application. The app informs the user when an error is detected and whether it is minor or requires immediate attention.
Users can also check and clear the code of the engine light, track their trip history, locate the nearest car shop, keep their gas expenses in check, monetize the car’s movement and have a big cloud of data of every mile driven.
Hood provides insurance companies and executives regular customized reports of their clients’ most recurrent car breakdowns, allowing them to determine their best insurance policy. The app’s smart dashboard displays new offers, specials discounts and loyalty programs to customers.
Various business and organizations now are requesting their customers/users to verify their accounts or at services requests to submit their official Arabic Documents. This process is currently operated manually, consuming a lot of time and resulting in high operational cost and hindering organization’s ability to increase their sales or on-board new clients due to long process of members verification.
Verified is a software solution that instantly checks and extract data from Arabic Official documents Using Machine vision and OCR technology, targeting online marketplaces that connects user to user, Government e-services and Banking and Insurance industries.
Noqood is a fintech startup working to increase financial inclusion and promote financial literacy across Egypt. The company provides a free financial platform that aggregates financial information from various banks, insurance companies and brokerage firms available in both Arabic and English. The platform provides users with the knowledge needed to compare products and services and make more informed, efficient decisions about their money. Additionally, Naqood’s platform offers channels through which users can reach out to various financial institutions directly.
X-Pay is a revolutionary electronic payment solution that allows closed communities – such as residential compounds, schools and clubs – to digitize payments and payment collection. Additionally, X-Pay provides it users with a variety of value-added services that make it easier to manage payments and settle recurring bills. Through the company’s mobile application, users can create a “family wallet” and transfer money within a network to facilitate easy spending control. Through another channel on the application, users can communicate with other members and access financial management solutions that help groups who struggle to control expenses optimize their daily operations.
Paynas is using technology to integrate SMEs into Egypt’s financial system. The company has built a cloud-based HR and payroll management platform that allows Egypt’s small businesses to provide their employees with benefits. By providing HR features such as employee and payroll management, Paynas is helping SMEs optimize their workforces. Paynas also serves as an intermediary between SMEs and the banks that often consider them to be “high risk” clients. The fintech company provides SMEs with access to bank accounts.