Whether seeking guidance about careers, academics, creativity, entrepreneurship or life in general, students in all stages of their AUC journey — as well as alumni — can find help in the form of a mentor under the University’s Life Mentorship Program (LMP).

Launched in 2017, the program connects AUC students with faculty and alumni mentors, forging powerful relationships that last well beyond University. Michael Hanna ‘20 joined LMP initially as a work-study video editor and director, but shortly thereafter began to be mentored by Hakim Meshreki (MBA '05), assistant professor and CEMS Master in International Management academic director. Hanna is now an electrical engineer in Orlando, Florida.

“My first impression of Dr. Hakim was how accessible and relatable he is,” Hanna recalled. “I felt like he was an older sibling, a really smart one.”

After undergoing a revamp following the coronavirus pandemic, the LMP was relaunched last November by May Ramy, senior director for cocurricular programs at AUC. It now operates under five clusters: entrepreneurship, civic engagement, arts and culture, athletics and well-being. In addition to one-on-one matches, the LMP is also offering group mentoring sessions as an introduction to the program.

“The program complements everything that happens inside of the classroom,” Younes explained. “It aims to build well-rounded mindsets and skill sets that will help students jump-start their careers. Moreover, it is a lifelong relationship — people always remember a mentor who has helped them realize their potential and overcome challenges.”

Though Hanna studied electronics and communications engineering at AUC, working with Meshreki, who teaches in AUC’s School of Business, taught him the importance of making connections and being relatable in conversation. “I ended up taking Dr. Hakim’s Introduction to Business course, and later on, he recommended me as a teaching assistant to different professors.”

This interdisciplinarity is a key component of the program, Ramy explained. “The LMP engages AUC learners from different disciplines in quality mentoring relationships and development experiences that create meaningful and sustainable connections and enable them to lead an intentional and professional life,” she said.

Making a Mentor

Intelligence, empathy, experience — according to Meshreki, these are three characteristics that are essential in being a good mentor. Having been with the program since 2018 and mentoring students on his own before joining, Meshreki sees mentorship as an invaluable practice.

“We're living in an era of instability, so talking to others and building relationships with more experienced people will open up ideas and opportunities,” he said. “Having a mentor can help students discover their full potential and steer them toward better avenues for personal growth.”

Hanna reflected on what made Meshreki an ideal mentor. “He's young at heart and knows how to immediately connect with students,” he said. “Dr. Hakim consistently provided helpful, relevant information, continually exercised critical thinking, was willing to be proven wrong and loved being challenged.”

Hanna is grateful for the program’s impact on his career trajectory. He’s also still in touch with Meshreki, who is taking on new mentees with the program’s relaunch. Since November, nearly 300 mentors and mentees have signed up for the program. “This is a network, and the benefits of a network are huge.” Meshreki said.

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Follow the LMP on Instagram.

Debate your hearts out! AUC’s Cairo International Model United Nations (CIMUN) swept the National Model United Nations in New York last month. Representing Nigeria and Montenegro, the 37-person team took home an impressive 14 awards, making AUC the most-awarded university at the conference.

Within those achievements, the team won two Outstanding Delegation Awards — the highest award a university can achieve— for their group representation of Nigeria and Montenegro. In addition, the AUC delegates won 12 individual awards across multiple councils, including the Human Rights Council, General Assembly, UN Environment Assembly, UN Economic Commission for Africa, International Atomic Energy Agency, Commission on the Status of Women, and Commission Crime Prevention and Criminal Justice. 

"The amazing team of delegates we had this year led AUC to become the university with the highest number of awards at the NMUN conference this year, as well as the only university to receive not just one but two Outstanding Delegation Awards. I believe this team raised the bar for many years to come," said Ali Hussein, economics major and CIMUN organization committee head.

Getting ready for this conference took more than six months of practice and a rigorous selection process that included interviews as well as mock conferences and position paper writing. The preparation phase comprised general training sessions for the delegation overall as well as more specific training and strategies for the different councils, in addition to researching foreign policy and identifying key international agreements to support the team's stance. There were also simulations to fully prepare the team for all aspects of the conference as well as a comprehensive process for writing the position papers, "which is a very important aspect of the NMUN conference and yielded many awards for us," explained Hussein. "This year, the majority of our delegates were freshmen and had never experienced a conference of this scale before. This made the preparation process longer and more challenging, which made the victory at the end even more rewarding. That was what was most special about the CIMUN victory this year."

Farid Hani, economics major with a minor in international relations and CIMUN undergraduate academic adviser, echoed similar sentiments. "Working with each and every one of our delegates in training, selection and writing position papers builds a personal connection, and we were eager to see them shine in action. Indeed, they passed our expectations and demonstrated great leadership, presentation, research, analytical and diplomacy skills," he said, adding:

"This year marks the 35th CIMUN team, and it was our target to truly make an impact and prepare the next generation of leaders to partake in this rigorous and prestigious conference. What really made a difference despite our delegation's young age was their spirit, dedication and eagerness to learn. To me, seeing their hard work come into play and their development over the months of training was the true victory."

Walid Kazziha, political science professor and CIMUN's faculty adviser, commended the hard work put in by all those involved. "My sincere thanks goes to all colleagues and staff members who helped prepare CIMUN for its great success," he said. "Above all, we owe our students and their High Board a word of gratitude and true recognition for the relentless efforts they have made to maintain the high standards we always demand of them.”

For participating students, the conference taught them valuable lessons both personally and professionally. "Attending the NMUN conference this year as head delegate has taught me a lot of new skills and lessons," reflected Hussein. "The key lesson I learned was how to properly strategize and plan ahead with my fellow High-Board members in order to reach the best outcome possible, which we thankfully succeeded in doing. Other important skills that were reinforced, thanks to this experience, included discipline, leadership and diplomacy. I am now assured that if I put my mind to something, plan accordingly, trust the process –– and most importantly my team –– I will reach the goal that I had set out from the beginning."

As Lara Radwan, economics major and CIMUN secretary-general put it, "Year by year, our goals for NMUN increase, and this year, we were able to win the highest amount of awards amongst all competing universities. With the competition becoming stronger and the MUN scene growing day by day, we had to prepare our team to become the top competing university in this year’s conference. The process has definitely been challenging, but the amount of knowledge we gained en route and the experience of getting to meet participants from all over the world is indescribable!"
 

International student Sara Carere has never experienced a month quite like Ramadan in Egypt. Living in wust el balad, or downtown Cairo, Carere has fasted with friends from Assiut, eaten suhoor on the street with her neighbors and watched hours of musalsalat (Ramadan TV series). 

“I was most surprised by how special and collective fasting feels,” Carere says. “Back home in the Netherlands I had some Muslim friends who fasted, but seeing Ramadan on a country-wide scale is incredible.”

Carere fasted the first two days of Ramadan to understand what her Muslim friends and neighbors were feeling firsthand. “It was really hard for me,” Carere recalls. “Maybe it's because I haven’t done it before, but not drinking water was so tough. That first iftar was incredible, though; water and dates have never tasted so good.” 

As a Middle Eastern studies student from the University of Groningen, Carere has spent her study abroad year at AUC making friends from all over the world. Her iftars have included traditional Egyptian foods and sweets, like molokhia, mahshi, kunafa and atayef, in addition to international foods, like Spanish omelets and pasta bolognese.

“I’ve really enjoyed this month because my roommates and I always have dinner together at iftar. Planning the meals, going grocery shopping and visiting the local market in Sayeda Zaynab to see the lanterns has been a lot of fun,” Carere says. “The fresh fruit juice from the street vendors is so good. My favorite is the coconut drink, sobia.” 

Living in downtown Cairo has immersed Carere in the Ramadan spirit. “The first night we walked around downtown until suhoor. Everyone seemed so happy and energetic,” Carere recalls. “We spent the night playing dominoes at an awha (local coffee shop) and drinking tea. It’s been a great chance to practice my Arabic.”

Ramadan has also highlighted some amusing cultural differences between the Netherlands and Egypt, particularly with regard to watching musalsalat. “In the Netherlands, we usually watch a show in silence and discuss it after,” Carere explains. “Watching the shows here with my Egyptian friends involves a lot more commenting and asking questions. I like it; it's more engaging. My favorite shows so far are Al Maddah and Al Soffara.”

At other times, the month feels bittersweet for Carere. “Seeing everyone breaking fast with their families and spending so much time together does make me a little homesick,” Carere says. “Thankfully, my dad is coming to visit next month, and I am so excited to show him how special Egypt is during Ramadan.”

While a business school education can be the foundation for a young entrepreneur's career, nothing matches hands-on industry experience. Courtesy of AUC's Center for Entrepreneurship and Innovation (CEI) and Shorooq Partners, one of Egypt's leading investment firms, AUC students were invited last month to test their mettle in a competitive venture capital investment simulation, the first of its kind in Egypt, and likely the entire Middle East.

The competition was designed to accurately simulate the tough, high-stakes world of private investment. Although most competitors were from AUC’s School of Business, ultimately it was Ghoroub Partners, a team of computer scientists from the School of Sciences and Engineering, who took first prize, winning an impressive $2,000. If they are as talented with computers as they are with investments, all members (Nourhan Nada, Ahmad Ashraf, Lobna Aboudoma, Tamer Osman, and Mohamed Moghazy) have bright futures ahead of them.

"It was an honor to win first place in this competition," said Nada, a computer engineering student and Ghoroub Partners team member. "Our team conducted thorough research and analysis on the startup we were investing in, putting in a lot of hard work and effort. It was incredibly rewarding to see that pay off."

Nada attributed her team's success to the experience and ability of each member. "We have participated in more than 12 competitions and have won several of them, which gave us a competitive edge," she added. 

Honorable mentions went to the second and third-place competitors, Alpha Team and Agora, who took home $1,500 and $500 respectively.

Following the announcement of the competition in January, students were invited to form teams and tasked with hypothetically investing $100,000 in real startups, just as Shorooq investors deal with in the real industry. These were summarized into memos for judges. Although the investment risks for students were merely hypothetical, the rewards were not; $4,000 in cash prizes were up for grabs for the three most talented teams.

All in all, 27 teams and four individuals, some 122 AUC students from various departments submitted memos to participate. Students had to perform their due diligence, analyze the investment prospects and devise investment plans just like any investment fund does in the real business world. Over successive rounds of elimination, students were offered industry training by professional investors at Shorooq Partners, met with real startups, and narrowed the field to 22 teams, then 16 and finally eight for the final round. At this stage, the finalists presented and negotiated their investment proposals with judges.

“Being a part of this competition was a new experience for me,” says Nada. “It pushed me to expand my knowledge of the entrepreneurial ecosystem and venture capital, and I’m grateful for the opportunity.”

Aside from being the first of its kind in Egypt, the CEI-Shorooq VC competition provided fantastic professional experience for students. Risk assessment; management of time, money and people; data analysis and decision making were all necessary ingredients of success for participants, just as they are for professional investors. "We were treating them as real venture capitalists like those who are hired at Shorooq Partners," says Nadine Ramadan, senior officer of performance optimization at CEI and the competition’s manager. "Accordingly, this competition gave them a chance to experience how this ecosystem works and what could be their role and daily work as venture capitalists if they are interested in pursuing their careers in that field." 

AUC's liberal arts approach to education, allowing students to pursue interests and classes across disciplinary boundaries, "enables us to know something of everything," says Ramadan. Well-rounded students like those of the competition's winning teams were able to adapt what they learned in their studies, whether in business, engineering or psychology, to new contexts and practical problems.

The 2023 CEI-Shorooq VC competition is what venture capitalists might call the "initial public offering" for something much larger and much more exciting. Organizers plan to open up the competition to public and private universities across Egypt in 2024 and beyond, bringing together more teams and more young business professionals to hone their skills, and of course, compete for the top prize.

If the competition’s first edition at AUC is any indication, it will be well worth their time.

“This competition not only honed our venture capital skills,” says Nada, “but also deepened our passion for entrepreneurship. It was an incredible experience overall."

With three currency devaluations in the last year and rising inflation, Egypt’s economic outlook for 2023 is riddled with uncertainty. News@AUC reached out to Sherif Kamel, dean of AUC’s School of Business, to identify the top three obstacles facing the economy at this time.

Here’s what he had to say:

1. Global Recession, Rising Inflation

In 2023, Egypt’s economy will be challenging, given the expected repercussions of the global recession and the rising inflation, which has already crept in over the last several weeks. This will add more pressure on the government to take some structural reform actions and provide a more conducive environment for business and investments. Businesses will need to adapt to navigate these difficult times, while individuals must adjust and prioritize to absorb the impact on their lives and livelihoods.

2. Currency Uncertainty

Today, the U.S. dollar is valued at 30.68 Egyptian pounds compared to 15.71 on the same day last year, losing 50 percent of its value in one year. This value is one of many indicators of the economy, but the question is––is the pound still overvalued? Does the current value reflect a complete float? Or is there more to come? It is worth noting that the Central Bank’s objective is not devaluation itself but rather reaching the actual value of the Egyptian pound, which would have multiple implications on several other economic elements. 

3. Towards Transformation

The overall economic indicators have put more pressure on society. Therefore, in 2023 and beyond, the government is expected to make some timely decisions, including:

• Transforming its role in the economy into an enabler, regulator and supporter of the private sector, helping it to grow and become more competitive.
• Expediting structural reform and optimizing efficiency levels across the board through multiple approaches, including but not limited to digital transformation.
• Making the country more inviting as a business destination for international investors, which can yield foreign direct investments across different economic sectors — not only in oil and gas.
• Rationalizing public spending and focusing on sectors such as education and health.
• Transforming export revenues by investing in critical sectors and industries where Egypt has a competitive edge, such as tourism. 
• Leveraging cross-border trade in addition to working on reducing national debt.

In Conclusion

The list is long, but it is doable, and it could be a game-changer for a large and growing society with limited purchasing power yet enormous potential that is mostly untapped. The government is already discussing these issues. It is time to take action supported by economic policies and an empowered private sector that will act as a catalyst for foreign direct investments and create a wide range of economic opportunities for different segments of society.

Read more from Kamel on Egypt’s economic outlook in the Nile View

Ayman Ismail ‘95, ‘97, the Abdul Latif Jameel Endowed Chair of Entrepreneurship, associate professor in the Department of Management and founding director of the AUC Venture Lab, and Heba Elsewedy, founder and chair of Ahl Masr Foundation, will be speakers at AUC’s midyear commencement ceremonies. Ismail will be speaking at the graduate ceremony on February 15, and Elsewedy will be speaking at the undergraduate ceremony on February 18.

Watch all commencement speeches live here. 

Ayman Ismail

Ismail is an international expert in entrepreneurship and venture capital with a focus on economic development in the Middle East. He leads a research team that analyzes global entrepreneurship across more than 100 countries and is designing programs to promote entrepreneurship in the Middle East. 

Ismail encourages an entrepreneurial spirit in Egypt as the founding director of the AUC Venture Lab, Egypt’s first university-based startup incubator and accelerator. The Venture Lab was recognized as a high-impact university business incubator in Africa (2014) and MENA (2015) by UBI Global. Under his leadership over the past eight years, the lab has accelerated more than 250 startups, raised more than EGP 3 billion in investments collectively and created more than 8,000 jobs. 

Ismail is a former research fellow at the Harvard Kennedy School and received a PhD in international economic development from Massachusetts Institute of Technology, where he also received a master’s degree in city planning and geographic information systems. He earned a bachelor’s in engineering and an MBA from AUC. 

Heba Elsewedy

Elsewedy founded the Ahl Masr Foundation in 2013 with the goal of treating, preventing and researching trauma and burn injuries. With a background in business and entrepreneurship, Elsewedy was inspired to begin community service work after witnessing an increased number of injuries during the events of January 25, 2011. 

Elsewedy’s foundation is the biggest nonprofit of its kind in the Middle East and Africa –– a testament to her dedication to civil service and humanitarianism. Elsewedy has helped more than 4,000 victims in Egypt and assisted families of victims from conflicts in Libya. In 2016, she began building the Ahl Masr Hospital as the first specialized nonprofit treatment and research center for burn and trauma injuries in the Middle East and Africa. 

Elsewedy holds a bachelor’s in English literature from King Abdul Aziz University and was awarded an honorary doctorate from Cape Breton University, Canada, in 2016.

The Egyptian pound weakened against the dollar again last Wednesday in a second dip since the Central Bank of Egypt announced the flotation of Egypt’s currency on October 27, 2022. The pound has devalued by more than 70% since March 2022, a problem that has been intensified by Egypt recording its highest inflation rates in five years. 

The Central Bank is moving toward a free-floating pound in order to receive financial assistance from the International Monetary Fund (IMF), but what does this mean for average Egyptians? 

How Many Exchange Rates Exist Right Now?

First, it is important to note that not every industry in Egypt uses the official pound-to-dollar exchange rate. The Egyptian government sets an official rate but other industries may use a parallel rate, also known as a black market rate. As of mid-January, the official government rate is about 29 pounds to the dollar, but certain areas in the private sector, such as auto dealers, use a rate of around 35 pounds to the dollar, says Hany Genena, adjunct faculty member in the Department of Management.

This most recent dip in value should not impact those private sectors that already maintain a weaker exchange rate. “The private sector already prices its products and services using an exchange rate of 30 to 35 EGP to one USD, depending on industry. So, on the margin, the recent moves shouldn't add much to an already high inflation rate,” explains Genena.

Meanwhile, Egypt’s dollar shortage is causing some prices to continue to rise. “Producers of food and beverage are facing a decline in their inventories of raw materials and finished products due to dollar shortage. So, the limited supply is triggering an upward increase in the selling price,” Genena says. 

In the public sector, government subsidized commodities, like fuel and food items, will change prices as well. “The price of goods and services from the government will change, since they follow the official exchange rate. Hence, inflationary pressures will likely continue to grow and hopefully peak by the second financial quarter of this year, which is April 1 to June 30,” Genena states. 

What Does the Future Hold?

How much lower can the pound’s value go? Hopefully, it should be stabilizing soon, Genena says. The government is slowly staging down the value of the pound to match the real market value, otherwise known as free-floating. If the government sticks to schedule, the pound should reach its final, lowest value by the second financial quarter of 2023, Genena forecasts.

“I believe the EGP may overshoot temporarily to 32 or 33 pounds per dollar before appreciating during the second half of 2023 to around 28 pounds per dollar,” he predicts. 

This should open up more channels for imported goods, an area which Egypt has been struggling with since the beginning of the war in Ukraine. 

“The first benefit of floating the pound is that Egypt will receive official funding from multilateral partners like the IMF, who required the decision for their collaboration agreement,” states Genena. “The second benefit is that once the government scales down the value of the pound to its real market value, it will simplify the foreign exchange into a single rated currency. This will encourage private imports that should alleviate the import shortage.” 

While the government and international organizations are initiating this long-term plan, Genena states that the average Egyptian still has to cope with the short-term fallout. “While inflation may not increase substantially with this last devaluation, it remains high — putting financial strain on families across the country, particularly those in the middle or lower classes who do not own USD, properties or stock,” he says. 

What Can Egyptians Do?

Some banks are encouraging Egyptians to save money by offering certificates of deposit. A certificate of deposit allows an individual to deposit money in the bank, under the assumption that they will not withdraw that money for an entire year. In return, the bank will apply an increased interest rate on that money, compared to the interest rate on a normal deposit that could be withdrawn at any time, making it a better long-term investment. This should improve inflation rates in the long term, as it did when certificates of deposits were used during the currency devaluation of 2017.

Genena advises that low-income families should take advantage of support programs from the government, while middle-income families should invest whatever they can from their savings into inflation-proof assets, such as gold coins, stocks, or the certificates of deposit. 

Thankfully, there is a light at the end of the tunnel for Egypt, according to Genena. “It is important to remember that a key strength Egypt possesses at this stage is that banks are well-capitalized and capable of absorbing shocks. Egypt should be able to sustain growth - no matter how anemic - despite the magnitude of the financial shock,” he concludes.

The U.S. Agency for International Development (USAID) has awarded The American University in Cairo (AUC) $86 million for USAID Egyptian Pioneers, a new program that provides scholarships and training to Egyptian students with emphasis on sectors that can advance Egypt’s climate goals. Through a nine-year cooperative agreement, AUC will administer the program in coordination with the Ministry of Higher Education and Scientific Research, the Ministry of International Cooperation, and private and public sector institutions. Prioritizing women’s empowerment, diversity, inclusion and climate resilience, the USAID Egyptian Pioneers will build and develop the capacity of a cross-disciplinary network of public, private and academic entities. The program includes:

• Scholarships for at least 700 young Egyptians (50% women) from underserved communities to obtain undergraduate degrees in Egypt
• Scholarships for at least 60 midcareer government professionals to obtain master’s degrees in the United States or Egypt
• Scholarships for at least 50 midcareer government professionals to pursue postdoctoral studies in the United States
• U.S. and Egypt-based technical training for at least 280 midcareer Egyptian government professionals and at least 220 mid-career professionals from non-public entities

Accordingly, more than 500 Egyptian women will engage in leadership and professional training, undergraduate and postgraduate scholarships, and study-abroad programs in the United States.

AUC President Ahmad Dallal said, “Leading the USAID Egyptian Pioneers program is a great honor for AUC. We commit to extending our longstanding leadership and excellence in education, capacity development and training to ensure the sustainable integration of the public, private and academic sectors. Egyptian Pioneers will surely leave an enduring impact on Egyptian society, advancing Egypt’s economic development and progress toward its Vision 2030. We thank the U.S. government and the Ministry of Higher Education and Scientific Research as we endeavor together on this partnership journey,” 

USAID Deputy Mission Director Margaret Sancho stated, “Climate change is an enormous challenge for all people, all over the world. But we also know that women and girls bear a disproportionate burden of its impact. Despite this, women and girls are leading climate change solutions in their communities. That is why USAID’s Egyptian Pioneers program will include leadership and professional training, undergraduate and postgraduate scholarships, and study-abroad programs in the United States for more than 500 Egyptian women."

For the first time, AUC’s School of Business hosted the 2022 CEMS Annual Events and Master of International Management (MIM) graduation ceremony at the Pyramids of Giza, celebrating the graduation of more than 1,200 CEMS graduates representing 78 nationalities from 34 business schools around the world. 

“We are honored to host such a great event for the first time in Africa and the Middle East,” said Hakim Meshreki (MA ‘05), assistant professor and CEMS MIM academic director at the School of Business. “This event brings together all the CEMS family once again after two years off due to COVID-19.”

CEMS Global Alliance in Management Education is an international network comprising 34 of the world’s top business schools, 70 multinational companies and eight NGOs that together offer the CEMS Master in International Management. 

AUC joined CEMS in 2017, becoming the first business school from the Middle East and Africa to join the alliance. The University welcomed its first CEMS MIM cohort two years later. Today, 16 students have graduated from the first two cohorts, with the third cohort graduating this year. 

“We are proud to be the first business school from the Arab region and the African continent to join the CEMS network,” said Sherif Kamel '88, '90, '13, dean of the School of Business. “The CEMS program, with its unique mix of global exposure, rigorous syllabus and powerful combination of theoretical knowledge and experiential learning, is a perfect fit with the school’s goals and aspirations in developing truly global responsible citizens.” 

The CEMS Annual Events featured a series of plenary sessions, networking and corporate meetings for the CEMS global network and social events, which took place on and off AUC’s New Cairo campus.

Learn more about the CEMS network at AUC.

Watch the full graduation ceremony

The first of its kind in Egypt, Eltoukhy Learning Factory for Innovation and Entrepreneurship brings together AUC students, faculty, entrepreneurs and industry. It will help students strengthen their multi-disciplinary and problem-solving skills, preparing them for careers in diverse professional sectors. Modelled on learning factories at other universities worldwide, the Eltoukhy Learning Factory will be located in AUC’s School of Sciences and Engineering on the New Cairo campus. 

Made possible through the generous support of AUC Trustee Atef Helmy Eltoukhy '74 and Fofa Eltoukhy, the Eltoukhy Learning Factory is a new innovative teaching and workshop environment to allow students to take ideas from the classroom and develop creative solutions to real-world problems.     

“This region presents complex challenges not limited to one professional sector or industry,” said AUC President Ahmad Dallal. “We are extremely grateful to Dr. and Mrs. Eltoukhy for this transformational gift, which will create a unique collaborative and multi-disciplinary learning environment at AUC. We are excited to see the entrepreneurship and creative projects that will result.”

As part of their “capstone projects” at the culmination of their studies, students will be empowered to develop their ideas, and bring them to fruition, by accessing the resources of the Eltoukhy Learning Factory and the expertise of AUC faculty. It will combine classroom teaching, hands-on learning and teamwork, and real-life applications. The students will also benefit from interaction with representatives from industry and other sectors that may bring partnerships or industry-sponsored challenges. 

“My family and I are proud to have had a long association with AUC” said Eltoukhy. "As Egypt's leading university, AUC plays a critically important role in preparing the next generation of leaders and problem solvers. It is essential that we provide them with the links to real-world problems and industry, well before they graduate. We are pleased to be able to support those experiences, and give students an opportunity to fully explore their ideas, and to realize projects through the Learning Factory."

If students are to have the competitive skills and knowledge that are required upon graduation, they will need experience with the latest technology and equipment. The Eltoukhy Learning Factory will allow students to develop their projects, benefiting from state-of-the-art equipment and diverse tools. The Factory will feature new equipment such as laser cutting, bench-top Computer Numerical Control (CNC) machines, waterjet, and 3D printing. Additional equipment will include various electronic control and testing equipment, and Internet of Things capabilities. The students will be supported by AUC faculty members from diverse departments including computer engineering, electronics and communications engineering, and mechanical engineering. Other AUC disciplines may also be involved, including arts and graphic design.

AUC graduates have a strong track record of generating successful startups. The Eltoukhy Learning Factory will be closely linked to the AUC Venture Lab that will help prototype startup ideas, and transform successful projects into new startups. AUC’s newly developed Virtual Reality lab will also be integrated with the Learning Factory, to allow for virtual prototyping prior to fabrication and testing.

An AUC Trustee, Eltoukhy is an Egyptian-American entrepreneur, former University of Southern California professor, scientist and the Founder and Chairman of Aurum Capital Management, an investment management firm. Eltoukhy has also authored many patents and publications in semiconductor and magnetic thin film technology. He is Chairman of the Eltoukhy Family Foundation, and he and his family have been philanthropic supporters of education in Egypt and the United States.    

Dean of the School of Sciences and Engineering Lotfi Gaafar, said, “We are very excited about the new Eltoukhy Learning Factory for Innovation and Entrepreneurship. It will significantly improve students’ experiential learning through expert supervision and better access to materials, tools, and equipment. This promises to have a substantial impact on students in the various sciences and engineering majors, and those from other disciplines across the University.”  

Describing the transformative impact of the lab, Board of Trustees Chairman Mark Turnage said: “The Eltoukhy Learning Factory draws upon international best practices. It will empower our students and enable AUC to remain at the forefront of innovation and practice in Egypt, and relevant to the needs of industry. We are very appreciative of this visionary gift from Atef and Fofa Eltoukhy.”