1864 Accelerator
The 1864 Accelerator constitutes the first local financial technology focused ‘FinTech’ startup accelerator program of its kind in Egypt. Powered by Flat6Labs in partnership with Barclays Bank Egypt, the accelerator is a solid platform for fostering the ‘FinTech’ innovation space in Egypt through enabling entrepreneurs to transform their disruptive ideas into commercially viable solutions.
The program welcomes ideas and startups across all business areas related to financial services, including but not limited to; payments, digital banking solutions, banking relationships, machine learning, lending, trading, cyber security, data analytics, payments, cryptocurrency, insurance, wealth management, asset management, and capital markets.
WHAT TO KNOW BEFORE APPLYING
Once you are selected to join the Program, you receive mentorship, office-space, entrepreneurship-focused business training, subject matter one to one sessions and a multitude of perks and services from partners.
A couple of pointers you should keep in mind:
- You must be fully dedicated to the duration of the program.
- You must be based in the same city as the Flat6Labs Program you are joining during the program period.
SUPPORT & OFFERINGS
Funding
Mentorship
Coaching
Training
Industry Support by Barclays
Full-time support staff
Weekly Pitch Night
Perks & Services
Legal Support
Office Space
Business Networking Event
Demo Day
Cycle Process
- Selection
- 1st Month
- 2nd Month
- 3rd Month
- Demo Day
Selection
8 weeks before the cycle, 60 to 80 of the best teams were invited for a 30-60 min. interview. Based on interview results, about 20-25 teams were selected to participate in a 5 day bootcamp which is designed as an intensive workshop for each team to work on developing and testing their idea further and for us to better understand their business in more detail. After the bootcamp, each team presented in front of a selection committee which consisted of members from Barclays, Flat6Labs, and industry experts who selected the final teams. Up to 10 teams were selected to begin the 14 week program.
1st Month
After teams receive orientation and are setup, they gain access to mentors & begin training. They then spend the first month of the program building and iterating the minimum viable product
2nd Month
The second month of the program focuses on market access where teams enter the market, begin acquiring customers & measure response
3rd Month
By the third month of the program teams are growing their company and analyze data to decide if they will pivot or proceed.
Demo Day
At the end of the 14 week program, a Demo Day is held giving the companies the opportunity to pitch in a room full of accredited VC’s, angels, investors, entrepreneurs, mentors, partners, and the media.