Cairo – Egypt-based early-stage VC and accelerator Flat6Labs has launched "Makers", a construction-tech Innovation Programme to foster startups operating in the construction technology (ConTech) solutions in Egypt.
Makers was launched in collaboration with SIAC, a leading regional private construction firm, and Dar-Al-Handasah (Dar), an international consulting company in engineering, according to a recent press release.
The pre-Seed programme is tailored to provide selected startups with hands-on assistance, unlocking their potential to raise funding. It will enable startups to test and formalise their ideas to both SIAC and Dar, with the possibility of being selected to run a pilot programme with both companies.
Moreover, the pre-accelerator programme aims to shed light on the significance of the construction revolution and the adoption of new digital technologies in the construction sector, bringing the construction industry one step closer to a more sustainable and technologically advanced environment.
Albert Malaty, Managing Director of Flat6Labs, Cairo, said: “A shift toward digitising construction solutions is becoming increasingly important in order to achieve safer and more productive results. Using robotics and data analytics to digitise construction processes for construction sites and industrial plants, data assembly, transactions, and city design, companies will be able to save labor costs, address labor shortages, and improve safety.”
The new Makers ConTech business models will assist engineers and the construction sector in particular in building, designing, and growing in a cost-effective, sustainable, and safe manner.
Some $17 billion was raised by ConTech companies with venture capital firms backing, according to the crunchbase data. Additionally, 24 venture-backed construction firms were acquired and 125 venture-backed real estate companies were acquired in 2021.
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