Cairo, Egypt (April 30, 2012) -- In the presence of representatives from Sawari Ventures and the American University of Cairo, School of Business, Entrepreneurship & Innovation Program (EIP),  Flat6Labs celebrated the end of its second cycle with its teams' Demo Day. In line with the startup accelerator's aims, the event was a final opportunity for its cycle's seven teams to present and demonstrate the potential of their respective projects to an audience of entrepreneurs and investors.

In attendance at the Demo Day were the Flat6Labs mentors and staff, reputed IT figures from the region, and investors who were keen on witnessing the progress of the cycle's teams. Mr. Ahmed El Alfi, Chairman of Sawari Ventures, was the first to take the floor. He emphasized the progress Flat6Labs had made in the second cycle. Dr. Ayman Ismail, Assistant Professor and Abdul Latif Jameel Endowed Chair of Entrepreneurship, at the American University in Cairo, commended the teams on their excellent fruitful efforts, and thanked the teams and the AUC faculty and mentors  for their dedication to the program and their efforts which have expanded from those in the first cycle. Mr. Ramez Mohamed, Flat6Labs' CEO, rounded up with an introduction about the seven teams, during which he noted the diversity of the teams' targets and in which he praised the teams' hardwork and dedication to the program.

GyroLabs was the first team to step forth, outlining their vision of the possible collaboration between the worlds of television and Internet, one that they are have already taken strong steps towards implementing. Eshtery  followed with their plan to revolutionalize the shopping experience as known to the Egyptian society, allowing people to shop for groceries using smartphones without losing anything from the joy of the shopping experience. AskNative demonstrated how it plans to serve the adventurous, knowledge seeking public through a question-answering platform that serves to facilitate travel experiences. 2ogra illustrated their plans that are intended to revolutionize Egyptian transportation by developing productive experiences between customers and taxi drivers. Yadget explained their vision of a social experience that is centered around items and places and not just people, wherein people can leave virtual notes anywhere and everywhere. Crowdsway spoke of their desire to facilitate the virtual existance of artists in a platform that allows for talents to grow and be hired. Finally, Nafham brought the team presentations to a close with their vision of an oline system that aids in developing the educational system in Egypt by helping students in their education process away from the world of private tutors.

Afterwards, Mr. Hany El-Sonabty, Managing Partner of Sawari Ventures, gave closing comments, during which he mentioned that Flat6Labs' next cycle will begin by early June 2012. 

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Flat6Labs
A startup accelerator launched by Sawari Ventures in conjunction with the AUC School of Business. Every three months, it funds and mentors five carefully selected startups, providing them with the tools and office space they need to translate their ideas into realities.

Sawari Ventures
An international venture capital firm that invests in people turning visionary ideas into market-leading companies in the Middle East and North Africa (MENA).  

AUC School of Business - EIP
In collaboration with different stakeholders within AUC and partners within the community and the region, the School of Business established the Entrepreneurship and Innovation Program (EIP) to help realize the school's mission 'to create an environment that fosters the development of principled and innovative business leaders and entrepreneurs who can make a difference'.

The program aims to foster entrepreneurial awareness at a national level. Its goal is to filter and select the brightest potential ideas and entrepreneurs and provide them with an array of mentorship and training programs to help them further polish their skills. Throughout the program, participants are given access to a wide network of investors, venture capitalists and angel investors to facilitate funding for their ideas. The most promising entrepreneurs are admitted into incubators where they take part in an intensive business development program enabling them to further develop their ideas, construct their business plans and market their product / idea. The program also aims to provide its participants with the best exposure needed for them to mature in their entrepreneurial process. whether it be taking part in international competitions or even get offered training or job shadowing opportunities in top notch corporations.

For more information about EIP, visit: http://www.aucegypt.edu/Business/eip/Pages/home.aspx

© Press Release 2012