Flat6Labs, the regional early-stage investment company and accelerator, held on Monday its 10th Demo Day in Cairo with 10 new startups graduating from its first cycle in 2018.
Flat6Labs Cairo’s 10th cycle commenced on 13 February in 2018 and welcomed 10 promising new teams, filtered from about 400 applications, who are now excited to launch their businesses to the general public.
This cycle had entrepreneurs coming from all over Egypt and the startups are across various industries, from fintech, medicine, training, and development to transportation, insurance, and retail, offering innovative online and digital solutions.
Among the attendees of the Demo Day were Flat6Labs investors, mentors, top government officials, reputable technology experts, and influencers from 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 more than 300 entrepreneurs, during its five years investment period. Every six months, Flat6Labs Cairo provides seed capital to 10 new startups, where each company receives up to EGP 500,000 in funding for 10% equity.
Moustafa Khater, Flat6Labs Cairo managing director, said he was 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 with 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 realise this opportunity and would like to encourage entrepreneurs through their critical first steps of their development. We are now ready for the 11th cycle and look forward to welcoming new, innovative, and disruptive technologies in Egypt,” he added.
The 10 graduating startups that are showcasing their technologies and business ideas at Flat6Labs Cairo’s 10th Demo Day include:
7aweshly: a mobile application for micro-savings that aims to help people get committed to save from their recurring income.
Arza2: a platform targeting blue-collars, aimed at promoting training and development programmes 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 jewellery marketplace and the go-to platform for gold and silver price checks in the region.
Med Misr: a digital third-party administrator that provides medical insurance companies with innovative online paper-free solutions with fraud controls.
Mosawer: a platform that 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 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 programme and seed investment company that fosters and invests in entrepreneurs. 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 currently has accelerator programmes and seed funds in Cairo, Jeddah, Abu Dhabi, Beirut, Tunis, and Bahrain.