Cairo’s Flat6Labs Graduates Its Tenth Cycle Of 10 Startups, Each to Receive Seed Money Upto USD 28 K
Cairo based Flat6Labs held its tenth Demo Day recently, with ten new start-ups graduating from its first cycle of the fiscal year 2018. The startups who became the part of accelerator’s tenth cycle were filtered from about 400 applications. The mix of the batch was quite varied with the participating startups from industries like FinTech, Medicine, Training and Development to Transportation, and Insurance and Retail, offering innovative online and digital solutions set to disrupt the market. This cycle had entrepreneurs coming from all across Egypt and are now excited to launch their businesses to the general public
The Demo Day was attended by Flat6Labs investors, mentors, top government officials, reputable technology experts and influencers from the region.
In a press release, Flat6Labs Cairo mentioned that it fostered and invested 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.
Moustafa Khater Flat6Labs Cairo Managing Director said: “I am proud to witness such bright and passionate entrepreneurs, representing an exquisite display of diversity.” He added, “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 the 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.”
Flat6Labs is a regional an early-stage investment company and accelerator with a fund size of USD 5.5 Mn. It 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.
Here is the list of ten graduating startups from the Flat6Labs Cairo Tenth Demo Day:
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 an 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.