Raya launches corporate accelerator for customer experience-focused startups
- Raya Customer Experience (RCX), a subsidiary of Raya Holding, has launched its corporate accelerator, Raya FutureTECHm in Cairo, aiming to invest in and work with early-stage startups that offer tech-enabled solutions to address challenges facing the customer care field across all sectors. The programme will run in partnership with venture builder and accelerator Openner.
- After the selection process and a three-day bootcamp, 10 startups will be selected to receive funding of up to EGP 1 million ($64,000) as well as access to mentorship and network connections.
Raya Customer Experience (RCX), one of Raya Holding’s companies, has announced launching its first Corporate Accelerator “Raya FutureTECH”, powered by the venture builder, Openner.
Raya FutureTECH will power early-stage tech startups that have a minimum viable product or a solution that addresses a problem in the customer experience field across all industries. The accelerator’s mission relies on Raya CX’s strategic vision to drive innovation and digital transformation of its services and solutions to keep up with the evolving customer expectations in digital-oriented industries via implementing CX best practices.
Raya FutureTECH has opened the call for its applications till July 31st on its website www.rayafuturetech.com. After going through the selection process and a three-day bootcamp, Raya FutureTECH will announce up to 10 startups that will each receive a cash investment of up to EGP 1M alongside hands-on support to scale their business from Openner, the program’s main partner, in addition to gaining access to Raya CX’s technical capabilities, customer experience expertise, and its wide and diverse client base.
The accelerator also provides hands-on design sprints, technology support, tailored growth plans, and 1-1 coaching for startup founders, guided by Openner’s expert team. In addition, Raya allocated a team to work hands-on with participating startups to facilitate more cooperation between Raya’s stakeholders and the founders.
“We are thrilled to announce the launch of Raya FutureTech in parallel with Raya CX's new vision, which aims at encouraging and enabling more digital transformation and fueling innovation. We started from the comprehensive development of our internal operations, increasing the share of technology, and activating more solutions to revolutionize the customer experience, and now we continue this journey by launching a startup accelerator that supports emerging technology startups and stimulates innovation, in addition to enhancing cooperation between tech corporations such as Raya CX and the startup landscape,” said Ahmed Refky, CEO of Raya CX.
He also added that the collaboration with Openner will help in achieving the accelerator's goals through co-investment, designing the best selection criteria for the participating companies, and providing well-rounded hands-on support to the future founders.
Raya Holding’s Head of Venture Investments, Mohamed Nazir stated that, “The goal of establishing FutureTECH is to power techstartups and fuel entrepreneurship in the Egyptian Market. We are looking to welcome the founders that have a vision on how to contribute to the improvement of customer experience across all industries. The program comprises all the tools and workshops needed for these startups to scale their businesses in addition to the investment that will enable the application of this knowledge turning it into tangible outcome.”
Openner’s Managing Director Ahmed Elsherif expressed his thrill about the partnership with Raya CX, “Along with Raya CX, Openner aspires to build a unique portfolio of tech startups through FutureTECH. We are also looking to power the growth of founders to enable them to positively contribute to the domain’s needs and future.”
Elsherif also pointed out, “This partnership comes in light of Openner’s focus on partnering with leading corporations to help them identify new business models and investment opportunities. We work with our partners to co-create, co-invest in, and launch a continuously evolving pipeline of domain-specific tech startups.”