FinYology’s American University in Cairo (AUC) team has won first place in the first edition of the Arab FinTech Challenge for universities at GITEX Dubai 2023.
“FinYology – Fintech For Youth Initiative” was first launched by the Egyptian Banking Institute (EBI) of the Central Bank of Egypt in Feb 2020 to foster and enhance the capabilities of the youth in financial technology. It answers an invitation of a presidential directive to support young entrepreneurs and encourage innovation as one of the pillars to achieve the sustainable development goals of Egypt’s vision 2030.
The Challenge is sponsored by FinTech Egypt which is powered by the Central Bank of Egypt (CBE), and is the first of its kind to be launched for university students in the Middle East. GITEX is the the most established large scale exhibition in the world providing a gateway for collaboration of technology creators, investors and enthusiasts.
The Challenge aims to promote the concept of financial technology by supporting and stimulating innovation among university students in Egypt and Arab countries, technically qualifying and supporting them to launch fintech startups. The Egyptian Gulf Bank, EGBank’s MINT Incubator offered Egyptian participant teams in the Challenge a programme of comprehensive technical support to help them qualify for the competition.
The winning AUC team had qualified for the Challenge together with another Egyptian FinYology team, that of the Chinese University in Egypt. There was also strong competition with teams of universities from UAE, Lebanon, and Jordan.