PHOTO
Cairo:
Changelabs, a program run in partnership with Blom Bank Egypt, FMO, Amazon, Fekretak Sherketak and the Entrepreneurship Academy by SANAD, is proud to announce the graduation of ten startups from its first cohort in Egypt.
The six-week program provided training, mentorship and support to the ten selected innovative startups, helping turn their ideas into investment-ready businesses. The ten graduating startups (chosen from 300+ applications) experienced a world class curriculum, a network of global mentors, diverse speakers, and ample opportunities to test and pitch during the program. Companies will be pitching for up to EGP 2,000,000 in funding on August 22nd in Cairo.
The Demo Day will take place at the Ministry of Investment to celebrate the successful graduation of the first cohort with the presence of leaders from the ecosystem including, Shorouk Zidan, Shehab Marzban, Jeroen Hartevelt, Dalia Ibrahim, Walid Hassouna, Mohamed Morsy and Walid Hassouna.
Changelabs founder Karim Samra, commented on the Demo Day, “ We believe entrepreneurship can change the world. The ten startups we’ve chosen here in Cairo are the embodiment of that vision, as they represent brilliant Egyptian youth becoming part of the solution, taking responsibility for their own and their country’s future.”
The ten startups will showcase the culmination of hard work and collaborative effort of the past six weeks in front of a judging panel of investors, partners and representatives from FMO, the Egyptian Ministry of Investment and the European Union in Egypt. On the Demo Day, up to EGP2,000,000 will be deployed in seed funding.
Jamal Khayat, Changelabs Managing Partner said, "There's a market gap in supporting early-stage impact-centered startups resulting in massive untapped potential, Changelabs is designed to address this gap."
The ten graduating startups come from a variety of industries covering Education, Transportation, AgriTech, Real Estate and Health/ Wellness. The ten startups are:
● Cyyan: a long-term shared economy rent services platform.
● Youspital: a medical services mobile application.
● Lendor: an online goods sharing platform.
● Nash2: a parenting services & products platform.
● Presto: an on-demand courier service for small and home businesses
● Proteinea: an insect-based fish food company
● OTO: a one on one online English language tutoring platform.
● Vlaby: an online lab experimentation platform.
● The Rent: a rent collection mobile application.
● Well.Fit.Go!: a personal weight loss coaching application.
Under the theme of “Design, Test, Iterate” Changelabs strives to support a new wave of entrepreneurship in the Egyptian ecosystem, enabling our startups to develop their ideas with meaningful experiments and time for iterations. The Changelabs program is set to accelerate the growth of Egypt’s promising social entrepreneurs, educate them, and prepare them to compete in the market.
-Ends-
About Changelabs:
Changelabs is a program that educates, inspires and ignites young entrepreneurs to make sure
their startup is market and investment ready while delivering lasting impact. Over the last ten years, more than 100 startups have graduated from Changelabs program across multiple countries, with 35% on average securing funding. To date, more than $45,000,000 have been raised in early-stage funding, with many of these companies creating a significant financial return.
Website: https://www.changelabseg.org/
About Blom Bank Egypt:
BLOM Bank Egypt is a commercial bank offering banking and financial services, with a paid-up capital of EGP 2000 Million. The vision is to be widely recognized in the market by increasing its
market share and improving its product offering to provide more value to its clients in the Egyptian market and thus growing the balance sheet.
Website: https://www.blombankegypt.com/BlomEgypt/
About Entrepreneurship Academy by SANAD:
The SANAD Entrepreneurship Academy, an initiative of the SANAD Technical Assistance Facility, encompasses a range of programs to support startups throughout SANAD’s target region. By working together with local organizations that drive incubation and acceleration projects, the Entrepreneurship Academy provides entrepreneurs and their businesses with guidance, resources, mentoring, networking opportunities, the chance to receive financial backing, and other means necessary to turn good ideas into successful enterprises. In this way, the Entrepreneurship Academy and its partners help create an environment where entrepreneurs can thrive – ultimately supporting SANAD’s mission of promoting economic development and employment in the Middle East and North Africa.
Website: https://www.sanad.lu/
About Amazon:
Amazon is an American multinational technology company that focuses on e-commerce, cloud computing, digital streaming and artificial intelligence. Amazon is committed to helping small businesses and entrepreneurs grow sales and reach new customers. Today, more than 1.9 million businesses, content creators and developers in the U.S. use Amazon products and services to follow their dreams and reach customers.
Website: https://aws.amazon.com/
About Changemaker:
For 10 years now, the Changemaker team has been delivering game-changing initiatives that empower and inspire youth, driving positive change around the world. The world's most ambitious students have come to us to launch their startups and become budding entrepreneurs with business concepts, multi-disciplinary teams, and a focused pathway to changing the world. We’ve designed and run several accelerators and incubators across many themes including; energy, water, food security, transportation, and more.
Website: https://changemakerlb.com/
About Fekretak Sherketak:
Fekretak Sherketak is a startup accelerator created to support and empower entrepreneurs and the start-up ecosystem in Egypt. Our aim is to support and accelerate the growth of Egyptian entrepreneurs to develop innovative businesses for today’s competitive economy.
Website: http://www.sherketak.com/
© Press Release 2019Disclaimer: The contents of this press release was provided from an external third party provider. This website is not responsible for, and does not control, such external content. This content is provided on an “as is” and “as available” basis and has not been edited in any way. Neither this website nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this press release.
The press release is provided for informational purposes only. The content does not provide tax, legal or investment advice or opinion regarding the suitability, value or profitability of any particular security, portfolio or investment strategy. Neither this website nor our affiliates shall be liable for any errors or inaccuracies in the content, or for any actions taken by you in reliance thereon. You expressly agree that your use of the information within this article is at your sole risk.
To the fullest extent permitted by applicable law, this website, its parent company, its subsidiaries, its affiliates and the respective shareholders, directors, officers, employees, agents, advertisers, content providers and licensors will not be liable (jointly or severally) to you for any direct, indirect, consequential, special, incidental, punitive or exemplary damages, including without limitation, lost profits, lost savings and lost revenues, whether in negligence, tort, contract or any other theory of liability, even if the parties have been advised of the possibility or could have foreseen any such damages.
