Meet The Ten Egyptian Startups Graduating Flat6labs Cairo's Tenth Cycle The entrepreneurs hail from across Egypt and are working on online and digital solutions across industries ranging from fintech, medicine, training and development, to transportation, insurance and retail.
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Flat6Labs Cairo, one of the region's leading early-stage investment entity and startup accelerator, held its tenth demo day in Cairo on May 14, concluding its first cycle of year 2018, with ten startups successfully graduating from the cohort.
Having commenced earlier in February this year, filtering and shortlisting ten innovative ideas from about 400 applications, the graduates of the batch are now set to launch their businesses and get their solutions tested out in the real world. The current set of entrepreneurs hail from across Egypt and are working on online and digital solutions across industries ranging from fintech, medicine, training and development, to transportation, insurance and retail. And as a first step of their induction into the business world, the entrepreneurs enjoyed an opportunity to network and showcase their ideas to the investors, mentors, government officials, technology experts and others who attended the demo day.
Commenting on the occasion, Moustafa Khater Managing Director, Flat6Labs Cairo said in a statement, "I am proud to witness such bright and passionate entrepreneurs, representing an exquisite display of diversity. With a bustling population shortly at the 100 million mark and 50% below the age of 30 and tech savvy, Egypt is poised to be one of the fastest growing entrepreneurial hubs in the world." He added that Flat6Labs aims to encourage and guide entrepreneurs through "their critical first steps of their development."
With a fund size of EGP 100 million, Flat6Labs works to invest in early-stage startups and entrepreneurs, in a five-year investment period. Every six months, Flat6Labs Cairo provides seed capital to its graduate startups with each company receiving up to EGP 500,000 in return for 10% of equity.
Here's a quick look at the ten graduating startups of Flat6Labs Cairo in its tenth cycle:
- 7aweshly: An application that helps people commit to their micro-savings plans.
- Arza2: A training and development platform for blue collar workers and self-employed individuals.
- Chefaa: An app that helps discover pharmacies nearby and order and deliver medicines online.
- iSagha: Online jewelry marketplace enterprise
- Med Misr: A digital third-party insurance administrator providing medical insurance companies with online solution.
- Mosawer: A MENA-wide platform connecting photography professionals to clients.
- Tombeely: An e-commerce platform aiming to be a one-stop shop for everything related to cars.
- Transpooler: An app-based school bus tracking system for communication between schools and parents.
- Wasel: A transportation platform connecting passengers living in various governorates of Egypt with drivers.
- Weelo: An online grocery delivery platform.