New Startup Accelerator Flat6Labs Launches in Cairo | WAMDA

Flat6Labs, the newest startup accelerator in Egypt, launched its first round of startup investment and training today. Last night, its first five companies arrived to its office- a Cairo flat numbered 6- for orientation. Today, these companies will become Cycle 0, the first set to complete three months of intensive mentorship and training, culminating in a Demo Day in mid-January, when they will pitch to investors.

Flat6Labs, which is owned by Sawari Ventures and supported by the American University in Cairo, will invest 50,000-75,000 EGP (~$8,000 – $12,500) in each startup for a 10-15% equity stake, and will offer potential further investment of 250,000 EGP (~$40,000) in those that show promise on Demo Day.

With a goal of educating its startups in the basics, the accelerator will host twice-weekly seminars including professors from the AUC School of Business, who will teach marketing, finance, and legal process, as well as members of the broader technology and telecommunications community, who will discuss market opportunities, development, and practical knowledge like presentation skills.

More>>

Shortlink:

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.