Cairo, 4 October, 2023: DMZ Cairo, the renowned startup incubator and innovation hub, hailed great success of Demo Day 2023. The event, which was held on September 20 2023, at Founders Spaces in Downtown Cairo, marked a significant milestone in the Egyptian startup ecosystem. The evening witnessed the showcase of groundbreaking startups that participated in DMZ Cairo’s Incubator Cycle 2 in partnership with the Academy of Scientific Research and Technology (ASRT) through the National Program for Technology Incubators (INTILAC), and Fintech Bootcamp powered by Export Development Bank of Egypt (EBank).

10 startups took the stage to pitch their innovative ventures to a diverse audience of potential investors, partners, and customers. The success stories of these startups, with 5 emerging as winners and receiving well-deserved prizes, are not just inspiring but also a testament to the thriving entrepreneurial spirit in Egypt.

Tutoruu and Credify, two standout startups from the Incubator Cycle 2 were among the 10 captivating presentations, earned the opportunity to fly to Toronto, Canada, in June 2024 to attend the prestigious DMZ YYZ program. DMZ YYZ is an intensive soft-landing program designed to help international growth-stage startups explore, launch, and grow their businesses in the North American market.

In addition to this, the Fintech Bootcamp powered by EBank rewarded the top-performing startups with cash prizes, recognizing their outstanding contributions to the financial technology sector in Egypt. The 1st place went to Vlens with a prize of 100,000 EGP, while Rentool secured the 2nd place with 60,000 EGP, and Hwala claimed the 3rd place with 40,000 EGP.

During the event, Dr. Ramy Sallam, President at Universities of Canada in Egypt, said: “The Demo Day 2023 event was a lively gathering of the startup ecosystem, showcasing the incredible pitches from the 10 participating startups. As we celebrate their achievements, we are excited to announce that applications for Incubator Cycle 3 will be launched soon, promising even more opportunities for budding entrepreneurs. The applications will be announced through DMZ Cairo’s official social media channels and website. Together with our partners, ASRT’s INTILAC and EBank, we are not only growing businesses but also igniting a powerful wave of transformation in the tech industry.”

“DMZ Cairo will keep supporting tech startups in Cairo with our upcoming Cycle 3, providing them with access to one-on-one guidance from Program Leads and mentors, peer-to-peer sessions, expert-led workshops, networking opportunities and more,” Dr. Hadia Hamdy, VP of Strategic Initiatives & Academic Development at Universities of Canada in Egypt (UCE), elaborated. “We are also looking forward to pursuing new partnerships per our vision to continue boosting the Egyptian startup ecosystem.”

“We are thrilled to welcome the winning startups to DMZ YYZ program. Their journey is a testament to the potential and talent within the Egyptian startup ecosystem, as well as exemplifying the global reach and impact of DMZ Cairo’s initiatives,” Abdullah Snobar, Executive Director of DMZ HQ in Toronto, Canada, stated.

It’s worth mentioning that DMZ Cairo’s Incubator Cycle 2, in collaboration with ASRT’s INTILAC, featured four promising startups: Tutoruu, Finvo, Credify, and Payllion, whilst the Fintech Bootcamp powered by EBank brought together six innovative startups: Vlens, Kashnow, Hwala, SWNT, Rentool, and Analyze That. These startups have not only demonstrated their potential but have also established valuable connections within the financial technology sector.