1864 Accelerator FinTech Ideas Coming to Fruition
The clock is ticking for the 8 finalist teams of the fall 2016 of the 1864 accelerator program. For the upcoming 3 weeks, the start-ups will showcase their sales pitch in a series of events for different audience groups including Barclays Egypt management team, the Flat6Labs management team, the mentors and the wider community of FinTech in Egypt and the MENA region.
These pitches aim to inspire the audience to see the value and commercial potential behind those teams’ business aspiration.
The startup with the most votes from the Barclays Egypt executive committee members will have the chance to obtain business deals and strategic partnerships that will greatly help bring their business start-ups to the next level of business growth.
More than 180 online applicants from 12 different countries had signed up for the program in hope for a chance to make it through. The selection process that was challenging and fast-paced with diligent procedures for choosing between talents. We have come to find out that what make these finalists stand out and earn their chance of a life-altering business opportunity are their innovative thinking, vision, and commitment to pursue their vision.
Global investment in FinTech ventures tripled to $12.21 billion in 2014 and overall growth reached 75% in 2015, exceeding $22 billion in funding. The banking industry is hungry for creative value to add to their customers, engage with society in a constructive manner, and be able to empower more segments that are in desperate need of new tools. The industry is creating new businesses within their structures and cooperating with businesses with new and innovative models to meet new challenges every day. These Fintech start-ups thought along these lines and were able to come up with business models and solutions to provide these means. The finalists’ hard work and dedication has got them to where they are today; a step closer to their lifetime goal of creating a profitable business.
Accelerators as a concept is now catching up on a local scale and a number of entities are walking along the same path that we paved back in May 2016.
Our finalists are well-prepared and ready to introduce their innovative products to the market. We wish them the best of luck as they embark on their new journey. We are also proud of the fruitful relationships that we formed with the cycle finalists through the 1864Accelerator program.
I am very much looking forward to the conclusion of this first of a kind FinTech cycle in Egypt and can’t wait for the next program cycle kick-off.
About the author
Senior Manager, Digital Channels, Barclays Bank Egypt
For the past 15 years he has had the pleasure of sitting on both sides of this table. While at some point BFSI gave a lot of ground for technology to thrive, the tables have turned towards end of last century and the industry is now breathless in trying to keep pace with technological advents. It is in this race track where he functions and where he gets his adrenalin pumping. No matter which role he assumes. Badr’s BFSI experience is made of his current role at Barclays Egypt’s digital channels’ enablement and as a senior business analyst for the reinsurance department at FFIC (Novato, CA). Between these two roles, he has the technology exposure on the solution side of system integrators specializing in banking and payment solutions; Intercom Enterprises and CIT Global (Cairo, Egypt).
Badr has a proven capability to identify effective business solutions and align stakeholders around them from exploration to implementation. His skills have been polished with global work experience and academic training in Information Systems Analysis and Design at UC Berkeley. His Business Analysis experience covers multiple industries and domains including BFSI, SDLC, Hospitality & Tourism, BPR , and Strategy Formulation, with real appreciation for workplace diversity and learning organizations.