Innovation Challenges
Startup Programs
Innovation
In a constantly shifting business landscape, empowering startups is increasingly recognized as a driver of innovation and economic growth. Through open innovation, startups gain the support needed to evolve from an initial concept to a sustainable, high-impact business. This raises an important question: How can startups and VCs benefit from open innovation programs as catalysts, providing access to external knowledge, resources, and collaboration? The answer lies in startup programs built on open innovation — offering the resources, mentorship, and exposure needed to turn ideas into successful businesses.
Benefits of Open Innovation for Startups and Ecosystem Growth
Startup competitions, hackathons, and open innovation challenges play a crucial role in fostering the growth of the entrepreneurial ecosystem, equipping startups with the resources and opportunities they need to thrive in an evolving economic landscape. Some benefits startups gain from participating in such programs:
- Startups gain valuable validation and feedback to guide their decisions on growth, expansion, or pivoting.
- Startups engage in a competitive yet collaborative environment, enabling them to tackle challenges while strengthening their confidence and resilience.
- Startups gain visibility and access to essential resources, including mentorship, funding, and strategic partnerships.
Startup Programs Powered by Untap
MINT Incubator by EG Bank
Overview
MINT Incubator, established by EGBANK, is a dedicated platform designed to nurture and accelerate early-stage startups. It offers a comprehensive 3-month program aiming at empowering young entrepreneurs with the resources and mentorship needed to thrive in the competitive market landscape.
Objectives:
The primary goal of MINT Incubator is to support startups in developing scalable business models and preparing them for investment readiness by providing access to industry experts, funding opportunities, and tailored mentorship.
Process:
Selected startups undergo an intensive incubation program, during which they receive hands-on guidance through workshops, one-on-one mentorship sessions, and networking events.
These activities are designed to help startups refine their business strategies, validate their ideas, and overcome early-stage venture challenges.
Impact:
Since its inception, MINT Incubator has successfully supported numerous startups in elevating their ideas from concept to market launch. Participants have capitalized on the program's resources to enhance their product offerings, expand their market reach, and secure crucial funding to sustain growth.
To date, MINT Incubator has run 13 cycles, supporting hundreds of entrepreneurs and helping them become investment-ready.
Acceleretha by Fintech Egypt - Central Bank of Egypt Initiative
Overview
AccelerateHA, an initiative by Fintech Egypt under the supervision of the Central Bank of Egypt, is a specialized program designed to empower female-led startups in the fintech sector. It focuses on equipping participants with essential knowledge, skills, and resources to drive innovation and growth within their businesses.
Objectives
AccelerateHA's primary objective is to foster gender diversity and empower women entrepreneurs in the fintech industry. The program aims to provide targeted support through mentorship, networking opportunities, and access to fintech solutions that can enhance business operations and scalability.
Process
Participants selected for AccelerateHA engage in a series of tailored sessions and workshops covering various aspects of fintech innovation and entrepreneurship. Powered by Untap, the program provided a seamless platform for application management, participant engagement, and feedback collection. Participants also benefited from mentorship by experienced professionals in the banking and financial services sectors, gaining insights into market trends and best practices.
During the program, participants refine their business strategies, pitch their fintech solutions to potential investors, and receive feedback to optimize their offerings.
Impact
The initiative has contributed to advancing gender equality in entrepreneurship and fostering a supportive environment for women-led businesses to thrive.
All participating startups were matched with coaches and potential partners to discuss their financial needs and incorporate fintech solutions in their startups.
Outcomes
Twelve startups were selected to attend the sessions and pitch their fintech business needs to women leaders in the banking and financial services sectors.
She works wonders by Injaz and PepsiCo Foundation
Overview
She Works Wonders, a collaborative initiative by Injaz and PepsiCo Foundation, is a transformative program designed to empower women to break barriers, thrive, and lead in the workforce.
Objectives:
She Works Wonders primarily aimed to prepare women for successful careers by equipping them with practical skills and knowledge through comprehensive training modules. The program was designed to bridge the gender gap in the workforce and empower women to achieve economic independence.
Process:
Participants in She Works Wonders engaged in a structured program that included work readiness training, technical skill development, and career coaching. Delivered through Untap’s platform, the program ensured a smooth experience from application to engagement, helping organizers manage participants, sessions, and feedback efficiently. Participants benefited from mentorship by industry professionals and gained access to internship opportunities with leading companies like PepsiCo Egypt and Vodafone Egypt.
Throughout the program, they took part in hands-on learning experiences — including workshops and networking events — all aimed at enhancing their employability and professional growth.
Impact:
The program ended with recruitment opportunities where graduates were matched with job placements aligned with their skills and aspirations. She Works Wonders had a profound impact on participants, empowering them to secure meaningful employment and break down barriers for women in traditionally male-dominated industries.
The outcomes in numbers:
- Work readiness training - 1200 participants
- Technical training and field visits - 550 participants
- Employability Bootcamp - 250 participants
- Career Summit for all - 1200 Participants
Conclusion
There is an increased awareness of the potential for successful startups to disrupt industries, create new markets, and drive innovation. Therefore, many organizations are now investing in building their startups and talent ecosystems.
If you are ready to discover groundbreaking startups in your industry and build strategic collaborations with future leaders, we encourage you to book a demo with our team. We will help you design the right program to achieve the best results.
