Tech

Egyptian venture firm, Flat6Labs launches accelerator programme for con-tech startups

Published

1 year ago

August 25, 2023

Cairo-based venture capital firm, Flat6Labs, has launched an accelerator programme for construction tech startups in the MENA region.

Labelled “Makers ConTech Accelerator Programme”, the 12-week programme is in partnership with SIAC and Dar Al-Handasah, according to Faysal Shair, Head of Digital Solutions at Flat6Labs.

In a statement on Thursday, Shair said the Accelerator Programme which is the first-ever construction-focused accelerator program in the Middle East, will “provide select startups with up to US$100,000 in funding as well as access to pilot projects, industry experts, mentorship, business training, one-on-one consultations, coaching sessions, networking opportunities, and essential resources to cultivate and scale their businesses.”

“The launch of the new programme follows Makers’ first pre-accelerator program, which ran in early 2023 and which aimed to promote construction industry innovation through connecting and engaging with various industry stakeholders with extensive expertise, thereby creating sustainable innovation ecosystems for resolving construction-related challenges within SIAC, Dar, and the industry at large,” the statement said.

Shair added that the pre-accelerator programme graduated nine of the most innovative ConTech startups in Egypt – including Reblox, Tawredaat, AION Innovation, Masafa, HomeLab, A.D Innovations, Makinahub, and JEEZAR, who have been co-opted into the expanded programme.

“With the launch of the new accelerator programme, Flat6Labs intends to provide ongoing support to construction technology startups.

“The programme will initially focus on Egyptian entrepreneurs, before expanding to Saudi Arabia and subsequently to the wider MENA region.

“We are thrilled to continue our exceptional collaboration with SIAC and Flat6Labs to accelerate the transformation of the construction industry.

“We believe that the programme will promote innovation in the construction industry and foster talents in construction tech, empowering them to showcase their innovative solutions and work alongside industry leaders to bring those solutions to the market.

“We are looking forward to seeing what the selected startups will bring to the table,” Shair said.

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Tech

Tanzania to host 6th Ocean Innovation Africa summit in February

Published

18 hours ago

November 20, 2024

Isaac Dachen

Dar es Salaam, Tanzania, has been selected to host the sixth edition of the Ocean Innovation Africa (OIA) summit from February 24-28, 2025, as a flagship event within Regenerative Ocean Week.

The Ocean Innovation Africa is set to be Africa’s most significant platform for Ocean Innovation conservation, and sustainable development in the blue economy. OIA2025 will be co-organised with leading partners, including IUCN, GIZ, OceanHub Africa, Catalyze and the Ocean-Climate Platform.

With the theme, “Science-to-Solution”, the Regenerative Ocean Week will present a line-up of sessions designed to bridge the gap between scientific research, business innovation, policy, and community engagement.

According to the organizers of the event, it will bring together African ocean innovators, investors, researchers, policymakers, and community leaders to explore practical solutions that can be applied across the continent.

“These include the OIA Pitch Competition, which is a platform for Africa-based startups and entrepreneurs to showcase breakthrough ideas in ocean-impact solutions, allowing them to connect with investors and industry leaders and emphasizing Africa’s role in driving sustainable ocean initiatives,” the organizers said in a statement.

Tech

Orange Egypt earmarks $52.7m to support African startups

Published

2 days ago

November 19, 2024

Isaac Dachen

Orange Egypt has earmarked the sum of $52.7 million to support African startups in what is going to be the largest investment to drive a youth-focused tech revolution.

According to the company, the mammoth investment will see over 40 startups benefitting from the funds, with most of them being Egyptian companies.

‘It’s a boost for Egypt’s growing entrepreneurial ecosystem and a step closer to cementing its spot as a top startup hub in Africa,” the company said in a statement.

The investment is coming on the heels of the telco signing a deal with the Egyptian government to roll out the second phase of its 5G licensing.

The statement noted that with Egypt’s startup game already strong and ranking as the third most funded country in the MENA region, “the numbers speak for themselves.”

“In 2022, Egyptian startups closed 143 funding deals worth nearly $766.7 million, outpacing the $606.79 million raised the year before.

“Plus over 2,100 startups employing more than 50,000 people, the country’s ecosystem is one of the top 10 emerging startup hubs globally.

“The Egyptian government is all in on this. And since launching initiatives like Egypt Ventures in 2017, they’ve been backing startups to drive innovation and growth in the tech space.

“Orange Egypt’s latest move only adds fuel to this already blazing fire, paving the way for more opportunities and a stronger startup culture across Africa,” it added.