Egypt,Cairo: Flat6Labs, the leading regional early-stage Investment Company and accelerator, holds its tenth Demo Day in Cairo with ten new start-ups graduating from its first cycle of fiscal year 2018.
Flat6Labs Cairo’s tenth cycle commenced on February 13th in 2018 and welcomed ten promising new teams, filtered from about 400 applications, who are now excited to launch their businesses to the general public. This cycle has entrepreneurs coming from all across Egypt and the startups are working across various industries, from FinTech, Medicine, Training and Development to Transportation, and Insurance and Retail, offering innovative online and digital solutions set to disrupt the market.
Attending the Demo Day are Flat6Labs investors, mentors, top government officials, reputable technology experts and influencers from the region, and press, who are keen on witnessing the progress of the start-ups and the latest innovations in the region.
Flat6Labs Cairo fosters and invests in bright and passionate Egyptian entrepreneurs with cutting-edge ideas, and supports them by providing access to a vast network of local and international investors, industry experts, partners and corporations. With a fund size of EGP 100m, Flat6Labs Accelerator Company (FAC) aims at investing in up to 100 early-stage startups and 300+ entrepreneurs, during its five years investment period. Every six months, Flat6Labs Cairo provides seed capital to ten new startups, each company receives up to EGP 500K in funding for 10% equity.
Moustafa Khater Flat6Labs Cairo Managing Director says “I am proud to witness such bright and passionate entrepreneurs, representing an exquisite display of diversity”. He adds, “With a bustling population shortly at the 100 million mark & 50% below the age of 30 and tech savvy, Egypt is poised to be one of the fastest growing entrepreneurial hubs in the world. We realize this opportunity and would like to encourage entrepreneurs through their critical first steps of their development. We are now ready for the Eleventh cycle and look forward to welcoming new, innovative and disruptive technologies in Egypt”
The ten graduating startups that are showcasing their technologies and business ideas at Flat6Labs Cairo Tenth Demo Day include:
- 7aweshly: A mobile application for micro-savings that aims at helping people getting committed to save from their recurring income.
- Arza2: A platform targeting blue-collars, aimed at promoting training and development programs as well as jobs for self-employed individuals.
- Chefaa: An on-demand application to scan and deliver prescriptions to patients, locate the nearest pharmacy, and order from pharmacies online.
- iSagha: The first online jewelry marketplace and the go-to platform for gold and silver price checks in the region.
- Med Misr: MedMisr is a digital third-party administrator that provides Medical Insurance companies with innovative online paper-free solution with fraud controls.
- Mosawer: A platform aims at connecting photography professionals to clients around the MENA region.
- Tombeely: A digital platform aimed at being a one-stop shop for everything car-related.
- Transpooler: A platform that aims at giving parents, schools and fleet companies the right tools to ensure safe and convenient transportation for the next generations.
- Wasel: A transportation platform connecting passengers between governorates with professional drivers.
- Weelo: A platform that connects users to their nearest supermarkets to facilitate grocery shopping.
Flat6Labs is a regional startup accelerator program and seed investment company that fosters and invests in bright and passionate entrepreneurs with cutting-edge ideas. It provides seed funding, strategic mentorship, a creative workspace, a multitude of perks and entrepreneurship focused business training. In addition, it directly supports startups through an expansive network of partner entities, mentors and investors. Flat6Labs, alongside its notable investors- the International Finance Corporation, MSME Development Agency, Egyptian American Enterprise Fund, and Egypt Ventures; has created an environment where entrepreneurs can advance their company in incredible pace and in a short period of time. Flat6Labs currently has accelerator programs and seed funds in Cairo, Jeddah, Abu Dhabi, Beirut, Tunis and Bahrain.
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© Press Release 2018