Category: Events

Cairo, Egypt – November 4th, 2024 — The Minister of Communications and Information Technology in Egypt, Dr. Amr Talaat, has attended the launch of “InvestIT,” a program aimed at supporting tech startups. The program is a joint effort by the Technology Innovation and Entrepreneurship Center (TIEC) of the Information Technology Industry Development Agency (ITIDA) and Flat6Labs, the prominent seed and early-stage venture capital firm in the MEA region.

InvestIT is an innovative investment-readiness support program that supports ICT-enabled startups at the seed or pre-series A stages from various governorates across Egypt. The program is designed to empower startups to finalize investment deals successfully. By fostering a supportive ecosystem, InvestIT helps startups navigate the complex landscape of investment and growth.
The program is implemented in two phases. First is the Preparation Phase, which involves qualifying startups through training, one-on-one coaching, essential tools, and resources. The second is Investor Engagement, where startups are connected with potential investors.

In his remarks, the ICT Minister highlighted the government’s commitment to fostering a supportive environment for tech startups and entrepreneurs. He outlined several initiatives aimed at skill development for entrepreneurs, attracting global incubators and accelerators, connecting startups with investors, and establishing Creativa Innovation Hubs across the country. Such efforts are aimed at helping entrepreneurs transform innovative ideas into successful businesses.

Talaat also emphasized efforts to facilitate startup registration and simplify post-establishment processes, along with significant investments in digital infrastructure. Additionally, he noted that Egypt ranks among the top three countries in the Middle East and Africa in terms of venture capital attraction.

ITIDA CEO Ahmed Elzaher expressed his enthusiasm for collaborating with Flat6Labs as part of the Agency’s commitment to enhancing and accelerating the growth of Egyptian startups. He emphasized the importance of creating a supportive ecosystem that boosts startups’ global competitiveness. Elzaher noted that the InvestIT program is part of ITIDA strategy to assist entrepreneurs at every stage, from initial idea development to growth and expansion into international markets.

For his part, Founder and Chairman of Flat6Labs Hany Al Sonbaty emphasized his company’s ongoing support for innovative Egyptian entrepreneurs, a commitment that dates back to 2011. He explained that InvestIT is designed not only to prepare startups for investment but also to equip them with essential tools and a network of connections to help them expand their businesses. Al Sonbaty reaffirmed Flat6Labs’ dedication to fostering a vibrant business environment through collaboration with ITIDA and TIEC, aiming to empower startups and enable them to create a meaningful impact in the Egyptian IT landscape.

The program implementation contracts were signed by Elzaher and Al Sonbaty, with the presence of Flat6Labs Founder Ahmed El Alfi, CIO Dina El Shenoufy, and officials from MCIT and TIEC.

InvestIT will support 12 startups through a six to eight-week program that helps startups develop investment-related strategies and pitch their businesses to investors. Upon completion of the program, the startups will have the opportunity to connect with potential investors, with continuous support and guidance from the program team.

The program is open to ICT-enabled startups at the seed or pre-series A stages, with a launched product or service. Startups must be operational in Egypt for at least two years before the program’s starting date, with the founding team consisting of two or more members.

For applications, kindly click here.

• The Demo Day, held in collaboration with Flat6Labs, marked the closing of the second edition of the Women’s Health Accelerator Program

• Eight start-ups from the UAE, Lebanon, Egypt, Tunisia, and Poland presented their women’s health solutions to a panel of industry experts

 

Dubai, United Arab Emirates – 15 October 2024: Eight pioneering start-ups who participated in the second edition of the Women’s Health Accelerator Program, attended Organon’s Demo Day during the ‘Expand North Star’ event at Dubai Harbour, hosted by GITEX Global. This initiative, a collaboration between Organon, a leading global healthcare company dedicated to improving women’s health, and Flat6Labs, MENA’s premier seed and early-stage venture capital firm, aims to address unmet women’s healthcare needs across the region. This year’s edition was launched on March 8, in celebration of International Women’s Day.

The Demo Day saw shortlisted startups from the UAE, Lebanon, Egypt, Poland and Tunisia pitch solutions that exemplify the remarkable innovation and potential impact on women’s health that the accelerator program aims to foster. Over the course of the program, these start-ups have benefitted from an array of resources provided by the program, including strategic mentorship, entrepreneurship-focused business training, subject matter one-to-one sessions, and a multitude of services from partners.

In the session, the shortlisted start-ups pitched their innovations to an esteemed judging panel comprising Dina el-Shenoufy, Chief Investment Officer at Flat6Labs; Ramy Koussa, Associate Vice President of META at Organon; Dr. Asma Al Mannaei, Executive Director of the Research and Innovation Centre at the Department of Health – Abu Dhabi; and Lyndal Cordaro, Head of Nursing at King’s College Hospital London – UAE.

iYoni, an innovative mobile app offering precise AI-based fertility predictions, automated lab test assessments, and advice from fertility experts, took first-place and received a prize of 15,000 USD. In her pitch, Katarzyna Goch, CEO of iYoni, outlined her ambitious plans to expand to the UAE market.
Taking the second-place prize of 10,000 USD was Noor Jaber, CEO of Nawat from Lebanon, a digital platform offering holistic reproductive health education and breaking the taboo around women’s health issues in the region. In third place and receiving a 5,000 USD prize was Banet from Tunisia, an app that empowers women with reliable health information and provides women with direct access to healthcare professionals for their health and wellness needs.

Among the other innovative projects presented at the event was Yotto from the UAE, a platform optimizing female athletes’ performance through hormonal monitoring, addressing a significant gap in sports science. Another UAE-based startup, Mamahood, introduced a comprehensive support system for women during fertility, pregnancy, and motherhood, offering a 24/7 live chat with doctors and a supportive community. Me-Now, also from the UAE, aims to guide women through perimenopause and menopause, ensuring they receive the necessary support and understanding during these transitions.

In addition, several other startups showcased their groundbreaking solutions, addressing critical subjects in women’s health in the region. InBalance, an initiative from Lebanon, outlined their app that offers personalized AI-powered treatments for PCOS patients, aiming to naturally improve health outcomes. The Aziza App from Egypt, tailored specifically for Egyptian women, was also presented, providing meaningful menstrual health tracking and management.

Speaking at the opening session of the Demo Day, Ramy Koussa, Associate Vice President of META at Organon, said, “The Women’s Health Accelerator Program has been a remarkable journey of innovation and collaboration. We are incredibly proud of the startups that participated and the groundbreaking solutions they have developed. Inspired by the success of this program, we were thrilled to launch the second edition, aiming to enhance our support by empowering women economically and fostering new ideas that enhance women’s health. At Organon, we believe that addressing women’s health needs is essential for building resilient and thriving communities. This program is a testament to our commitment to fostering innovation that directly impacts women’s lives.”

Dina el-Shenoufy, Chief Investment Officer at Flat6Labs, said, “Supporting founders in the Femtech industry is critical to advancing -not only women’s healthcare- but also driving broader economic growth. Through programs like Women’s Health Accelerator, we ensure that female founders receive the tools and resources they need to succeed and make a meaningful impact on women’s lives. We are proud of all the startups who participated in this program; they showed us how the next generation of female leaders are focused on addressing the unmet needs in women’s health.”

Katarzyna Goch, CEO of the winning start-up iYoni, commented, “Participating in the women’s health accelerator program was an outstanding experience. From the very beginning, we connected with experts who provided invaluable advice that I can implement both now and in the future.”

The accelerator program, initiated shortly after Organon’s expansion into the region, represents a pioneering ESG initiative that underscores Organon’s dedication to addressing women’s health needs. This program, aligned with Organon’s mission to enhance the lives of women and girls through improved health outcomes, was meticulously crafted to bolster female entrepreneurship and support digital health startups.

Shell Intilaaqah Egypt Programme will support & influence more than 1000 young entrepreneurs per year through matchmaking, boot camps & incubation.

Cairo, Egypt – 22 July 2024 – Shell Egypt is excited to announce the relaunch of the Shell Intilaaqah Egypt Programme, in collaboration with Flat6Labs. This initiative is part of flagship enterprise development global programme Shell LiveWIRE, and aims to empower and support over 1,000 aspiring entrepreneurs in Egypt. The programme is dedicated to fostering innovative solutions to address global challenges through fostering entrepreneurship.

For nearly two decades, the Shell Intilaaqah Egypt Programme has been a beacon of innovation and growth, nurturing over 10,000 youth across the nation and contributing to the establishment and scaling of approximately 200 startups. The programme has not only spread awareness about entrepreneurship, but have also supported many individuals in starting new businesses and expanding existing ones.
Dalia Elgabry, Vice President and Country Chair, Shell Egypt commented: “As a responsible investor, Shell Egypt has a long-standing history of supporting our local communities through impactful Social Investment (SI) programmes.

These initiatives are designed to create sustainable benefits for our stakeholders, addressing some of the most pressing challenges we face today. We are proud to support the community through pioneering capacity-building programmes like Shell Intilaaqah. Together in collaboration with Flat6Labs, we are committed to creating significant opportunities for early-stage entrepreneurs, providing them with the necessary support to overcome challenges and succeed in their entrepreneurial journey.”

Shell LiveWIRE, operates in 20 countries to strengthen local economies through entrepreneurship, innovation, and meaningful employment. The Shell Intilaaqah Egypt Programme will leverage this global experience to support and train more than 1,000 entrepreneurs per year through a series of matchmaking, ideation, bootcamps & incubators. The most promising 240 teams or ideas from these sessions will be selected to participate in the Bright Ideas Bootcamp Training. From these, the top-performing 40 teams will be invited to join the 3-month Intilaaqah Incubation cycle, across two cycles per year.

Hany Al-Sonbaty, Co-founder and Chairmanof Flat6Labs added: “Flat6Labs is thrilled to collaborate with Shell Egypt and become their social investment delivery and innovation partner in the country. This collaboration in relaunching the Shell Intilaaqah Egypt Programme will create significant opportunities for early-stage entrepreneurs, providing them with the necessary resources and mentorship to turn their innovative ideas into successful ventures.”

The programme will inspire the Egyptian youth through hybrid ideation and matchmaking sessions, training them on how to ignite their startup journey via eight bootcamp cohorts, select the teams to participate in the 3-month Intilaaqah Incubation Cycle, and spotlight three winning projects during Intilaaqah Annual Award Ceremony.

Flat6Labs will implement the Shell Intilaaqah Egypt Programme and help tailor it to support entrepreneurs in defining their mission, vision, and initial strategy, helping them build a pipeline and raise awareness about entrepreneurial opportunities. Selected participants will attend workshops delivered by subject matter experts, providing them with access to globally tested and successful startup practices. The programme will focus on empowering the next generation of young people to become innovative entrepreneurs, equipping them with the skills to identify market needs and develop solutions to specific challenges facing the Egyptian economy.

Shell Egypt’s social investment programmes contribute to the delivery of Egypt’s 2030 Strategy Goals and UN Sustainable Development Goals. Shell Egypt delivers a portfolio of programmes in collaboration with partners such as Ministry of Petroleum, Egyptian universities, The National Training Academy, and the World Food Program

Celebrating International Women’s Day: Empowering Female-Led Innovation in Healthcare

Dubai, United Arab Emirates – 29 February 2024: Organon, a global healthcare company dedicated to improving women’s health, in partnership with Flat6Labs, MENA’s leading seed and early-stage venture capital firm, is thrilled to announce the launch of the second cycle of the Women’s Health Accelerator Program. Building on the success of the inaugural cycle and the incredible momentum witnessed across the region, this initiative aims to empower digital health startups with solutions to enhance women’s health across the Middle East, North Africa, and Turkey (MENAT) region.

The second cycle will hone in on three main focus sectors critical to women’s health:
Family Planning: Technologies Enhancing Contraception Counseling and Education and Awareness of Tools and Options.
Fertility Planning: Solutions for IVF Mental Health Support and Counseling.
Women’s Wellness: Innovations in Self & Maternal Care, Disease Prevention, and Menstrual Health.

The overarching objective of this accelerator program is to address specific challenges faced by women in the region concerning their health, aiming to find sustainable and long-term solutions. The focus will be on identifying and supporting digital solutions that can help improve accessibility, empower individuals, and enhance overall quality of well-being, ultimately advancing women’s healthcare in the areas identified. This year’s program will target startups operating in several countries, including Kuwait, Lebanon, Oman, Turkey, Egypt, Jordan, KSA, and the UAE. The majority of these countries have established Organon & Flat6Labs offices, with both entities having local partners in these geographies.

The initiative aims to accelerate the growth of 15 startups, and engage with various stakeholders, ultimately graduating startups that are ready to launch and address current challenges in women’s health. Additionally, the program will include virtual and on-ground community events such as info sessions, roadshows, pitchathons, and webinars to strengthen outreach, scouting, and selection efforts.

The second cycle of the Women’s Health Accelerator Program introduces enhanced program offerings. These offerings include:
In-Depth Training: Startups will receive specialized training in business and technical aspects, equipping them with the knowledge and skills necessary for success.
Mentorship and Guidance: Participants will benefit from mentorship provided by industry experts, connecting them to a vast network of local and international mentors, investors, and corporates.
Exposure to Stakeholders: Startups will have unique opportunities for exposure to key stakeholders, enhancing their visibility and creating valuable connections within the industry.
Regional Business Support: Access to a regional network across the region and support with market expansion.

Commenting on the program’s second cycle, Ramy Koussa, Associate Vice President, Organon, Middle East North Africa & Turkey (MENAT), stated, “Investing in women’s health shows positive return on investment (ROI): for every $1 invested, ~$3 is projected in economic growth. Investing in improving women’s health not only improves women’s quality of life but also enables them to participate more actively in the workforce and make a living. The potential value created through women’s higher economic participation and productivity exceeds the costs of implementation by a ratio of $3 to $1 globally. Launching the second cycle of the Women’s Health Accelerator Program marks a significant milestone in our ongoing commitment to advancing women’s health in the MENAT region. We are excited to deepen our partnership with Flat6Labs and continue listening to the needs of women, identifying innovative solutions that foster a better and healthier every day for her. This cycle is a testament to our sustained dedication to collaboration, innovation, and the empowerment of women-led startups in the digital healthcare space.”

Yehia Houry, Chief Programs Officer at Flat6Labs, emphasized the importance of supporting female entrepreneurs and advancing women’s healthcare, stating, “As we embark on the second cycle of the Women’s Health Accelerator Program, we are thrilled to amplify our support for female entrepreneurs shaping the future of women’s healthcare. This initiative is not just about innovation; it’s about empowering visionary minds to create lasting impact. Our ongoing partnership with Organon and the evolving focus of this cycle reaffirm our commitment to fostering a dynamic ecosystem for women-led startups. Together, we aim to revolutionize the healthcare landscape, ensuring it reflects the diverse and nuanced needs of women across the MENAT region.”

In the accelerator program’s first cycle, we witnessed the remarkable achievements of three standout startups that were announced as the winners: “OMGYNO” founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, “Siira” founded by Sandra Salame in Lebanon, and “Maternally” founded by Yasmin El Mouallem in the UAE. These visionary companies have not only demonstrated innovation and excellence but have also become integral parts of our ecosystem. As we embark on the second cycle, we are thrilled to welcome these winners back into the fold. Their invaluable insights, experiences, and successes will serve as guiding lights for the new cohort of startups, enriching the program with their expertise and contributing to its continued success.

For more information about the Women’s Health Accelerator Program’s second cycle and the application process, please visit our website here. The applications close on May 16, 2024.

Investing Up to $100K in Construction Tech Startups in Egypt

Flat6Labs, the region’s leading seed and early-stage venture capital firm, has launched the “Makers” ConTech Accelerator Program in partnership with SIAC and Dar Al-Handasah (Shair and Partners). The program is the first-ever construction-focused accelerator program in the Middle East that aims to support advanced startups in the construction technology industry.

The “Makers” ConTech Accelerator Program will provide select startups with up to $100,000 in funding per startup as well as grant 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 program will last 12 weeks, startups will be chosen based on their unique new technology, hardworking founders, and exceptionally promising products, presented at a minimum viable product (MVP) level or higher.

The launch of the new program 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 pre-accelerator program graduated nine of the most innovative ConTech startups in Egypt – including Reblox, Tawredaat, AION Innovation, Masafa, HomeLab, A.D Innovations, Makinahub, and JEEZAR. During the pre-accelerator, these startups were offered strategic mentorship, entrepreneurship-focused business training, one-on-one sessions with subject matter experts, as well as other benefits that would empower them to develop and present their innovative ideas and solutions.
With the launch of the new accelerator program, Flat6Labs intends to provide ongoing support to construction technology startups. The program will initially focus on Egyptian entrepreneurs, before expanding to the Kingdom of Saudi Arabia and subsequently to the wider MENA region.

Commenting on the new Makers Accelerator Program, Faysal Shair, Head of Digital Solutions at Dar, said, “We are thrilled to continue our exceptional collaboration with SIAC and Flat6Labs to accelerate the transformation of the construction industry. We believe that the program 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.”

“We are proud to be a part of the journey towards digitizing the construction industry and unlocking more opportunities and potential for ConTech startups in Egypt,” stated Seif Ragab, Deputy CEO at SIAC. “The digital revolution of the construction industry is becoming more crucial than ever and we are excited to capitalize on this momentum and make major leaps. We are confident that the expansion of this program would essentially help the growth and development of the region’s constructing industry.”

“We are excited to announce the launch of an accelerator program in collaboration with SIAC and Dar Al-Handasah, with the hope that it will serve as a conduit for the development of cutting-edge innovation while driving growth and opportunities for promising startups,” said Yehia Houry, Chief Programs Officer at Flat6Labs. “We are proud of the success of the pre-accelerator program, and we believe that Makers will have a significant impact on the construction industry in Egypt, and eventually across the Middle East.”

Compared to other sectors like fintech, the construction industry typically moves at a slower pace when it comes to embracing innovation or digitalization. The Makers program strives to equip construction entrepreneurs with the necessary support in order to provide innovative solutions and fresh technologies that optimize and automate construction industry processes, making them more efficient and sustainable while propelling the sector forward.

About Flat6Labs:
Flat6Labs is the MENA region’s leading seed and early-stage venture capital firm, currently running the most renowned startup programs in the region. Flat6Labs invests in innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders.
Flat6Labs manages a number of seed funds with a total AUM in excess of $85M. More than 25 leading institutions have invested into the Flat6Labs managed funds; believing in the asset class and Flat6Labs’ proven track record as the market leader. Flat6Labs provides a wide range of investment ticket sizes ranging from $50K to $500k, supporting startups through their early journeys from Pre-Seed all the way to Pre-Series A stages. Alongside the investments, Flat6Labs’ exceptional startup programs, executed to cater specifically for the needs of the innovative entrepreneurs, helps them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors and corporates.
Launched and headquartered in Cairo since 2011, Flat6Labs has multiple offices across the region; with ongoing plans to expand into other emerging markets.
For more information, visit www.flat6labs.com

About SIAC:

SIAC Construction is one of the leading regional construction private sector companies in Egypt and the Middle East. Since its establishment in 1986; SIAC gained a vast record of experience in the construction of mega projects; including top-quality finishing buildings, heavy industrial construction, power plants, infrastructure, and petrochemical projects.

SIAC’s aim is to create a difference in quality construction, by implementing the most modern management and construction systems, in order to ensure and improve its position as a leader in the construction field.

SIAC also is a member of SIAC Holding which was established to manage the diversified activities of the Group. These activities include construction, development, and building materials.
About Dar-Al-Handasah

Dar is one of the world’s leading consultancies, providing design, planning, engineering, and project management services for a wide variety of market sectors, including buildings and cities, transportation and civil infrastructure, and water and the environment, and project management. We are a global community of over 7,850 talented and innovative engineers, planners, economists, architects, designers, project management specialists, construction management professionals, and multidisciplinary experts. We take on some of the world’s most exciting and ambitious projects in order to nurture sustainable development, empower and connect communities, create more and better opportunities, and enhance lives. Our company’s portfolio includes over 4,500 projects, collectively worth $540 billion, delivered for over 950 clients. The firm’s commitment to excellence, client satisfaction, and sustainable development has earned it a reputation as a trusted and reliable partner in shaping a better future for communities around the world.

Dar is also the founder of Dar Group – a global network of industry-leading brands with over 18,600 employees in more than 300 offices around the world. According to the industry-standard Engineering News Record, Dar Group has ranked among the top 10 international design firms for over 15 years, and it currently ranks 1st in the Middle East and 3rd in Africa (ENR 2022).

Tripoli, May 2023. The new “Deraya – دِرَايَــة Entrepreneurship Initiative” for young entrepreneurs seeks to build a dynamic ecosystem of innovative entrepreneurs and startups in Libya.

Young entrepreneurs in Libya face many challenges, including accessing markets and financial resources, and navigating regulations and administrative procedures. The Deraya initiative is designed to equip entrepreneurs with the essential know-how to turn innovative ideas into successful startups. The initiative was jointly developed by the Ministry of Local Government (MoLG), and United Nations Development Programme (UNDP), in collaboration with the European Union (EU) and the African Development Bank (AfDB).
Targeting youth and vulnerable groups, Deraya is open to innovative and aspiring entrepreneurs aged between 18 and 35. Through interactive webinars, the initiative’s participants will be given an opportunity to engage with experienced entrepreneurs, subject matter experts, and role models from Libya, Egypt, and Tunisia and learn from their success stories, wealth of knowledge, and expertise. The initiative will also entail startup weekends in Tripoli, Benghazi, Sebha, and Derna, culminating with a pitch competition where the winning startups will receive financial support, financed by EU and AfDB, to further develop, grow, and take their business ideas to the next level. As a critical step towards sustainability, entrepreneurs will be linked to the municipal business incubators being set up with MoLG with UNDP’s technical support.
Commenting on the launch of the initiative, Dr. Bader Al-Deen Al-Tomi, Minister of Local Government, said: “The Deraya initiative plays a pivotal role in the Ministry of Local Government’s strategy to develop entrepreneurship and micro-enterprises at the local level, empower municipalities economically, and provide job opportunities in line with Law 59 and Resolution 1500 . We are delighted to work towards these goals in cooperation with our international partners, EU, AfDB and UNDP.”
EU Ambassador Mr. José Sabadell added: “Libya’s economic prosperity will be driven by young entrepreneurs with innovative, forward-looking ideas. They will be the key to a more diversified Libyan economy, a strong private sector and new jobs. Together with our Libyan and international partners, the European Union therefore seeks to offer strong and concrete support to young Libyan entrepreneurs, to realise their business ideas.”
Mr Mohamed El Azizi, Regional Director for North Africa at the African Development Bank, further commented: “Private sector development is key to boosting economic diversification and job creation in Libya. Supporting the trajectory of young Libyan men and women to develop and grow their start-ups has enormous socio-economic potential and will contribute to job creation. It is also important to ensure an adequate business enabling environment and institutional support. The EEYES project, financed by the AfDB through the Youth Entrepreneurship and Innovation Multidonor Trust Fund, and implemented by UNDP, supports these components.”
UNDP Resident Representative, Mr. Marc-André Franche, said: “Libya has a new generation of young people, women and men, , with promising capacity and big ambitions. The country has the potential to be one of the biggest entrepreneurial ecosystems in North Africa, and through the Deraya programme, UNDP seek to help inspire and provide young entrepreneurs with the necessary resources and assets to realise growth and innovation.”
The Deraya programme is part of UNDP’s Local Peacebuilding and Resilience efforts in partnership with MoLG, aimed at creating socio-economic opportunities for youth and vulnerable groups to promote sustainable growth in Libya, including the establishment of the first Municipality-led business incubator and the TEC+ Accelerator programme.

The Deraya initiative, co-funded by AfDB and EU, is designed and implemented in collaboration with a consortium consisting of Flat6Labs, Tatweer Research and MAZAM, bringing in years of experience and specialized knowledge in helping young entrepreneurs launch successful ventures in both the Middle East & Africa regions.

Further information and how to apply can be found on the website: deraya.ly.

Background
UNDP supports Libya’s transition towards peace, economic recovery, and sustainable development to help the country get on a more robust development path by supporting local authorities to restore essential services delivery and livelihood opportunities and promote peaceful co-existence. Job creation for youth is at the heart of UNDP’s local Peacebuilding efforts. This initiative is part of UNDP’s “Environment towards youth entrepreneurship support and positive migration governance project (EEYES)” programme financed by the African Development Bank (AfDB), and the Strengthening Local Capacity for Resilience and Recovery Project funded by the North of Africa Window of the European Union Emergency Trust Fund for Stability which contributes to addressing the root causes of irregular migration and displaced persons in Africa (EUTF – NOA). The Deraya initiative is implemented in partnership with Flat6Labs, Tatweer and Mazam.

– StartMashreq seeks to support innovative entrepreneurs in Jordan, Lebanon, and Iraq, with a focus on empowering women, refugees, minorities, and displaced persons.

– The program will work to build a diverse digital community of entrepreneurial pioneers, while promoting socioeconomic development, prosperity, and sustainability through innovation and inclusion.

– StartMashreq will provide comprehensive business incubation and support to entrepreneurs, including enhancing access to investment opportunities and helping build local and regional partnerships.

Amman, Jordan – March 06, 2023 — Flat6Labs, the MENA region’s leading seed investor, has officially announced the launch of its StartMashreq entrepreneurship program. The regional program is being implemented over a two-year period in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, and the government of the Netherlands. As the first program of its kind, StartMashreq will offer comprehensive support to entrepreneurs across a broad segment of society throughout the Levant region. Targeting underserved demographics in Jordan, Lebanon, and Iraq—including women, refugees, minorities, and internally displaced persons—StartMashreq is open to entrepreneurs between the ages of 18 and 45 who are seeking to develop their innovative ideas and projects.

The program seeks to provide wide-reaching opportunities, capabilities, and support to beneficiaries. StartMashreq will focus heavily on entrepreneurs working in education, fintech, financial inclusion, healthcare technology, agriculture, environment, and information and communication technology. By prioritizing the success, growth, and sustainability of projects in these fields, the program aims to diversify economic opportunities in the targeted countries and contribute to their overall socioeconomic development.

The program will work along three main tracks—StartMashreq Academy, the Growth Support Program, and the Incubation Program—ultimately forming a strong, well-rounded base of support for creative entrepreneurs.
Through StartMashreq Academy, individuals who aspire to sharpen their personal and professional skills will be able to benefit from a wide range of resources, on www.startmashreq.com. The platform includes tools like data and infographics; digital and interactive sessions, seminars, and talks led by experienced business leaders; pre-recorded training courses across a variety of specialized topics; and blog posts and articles written by experts from across the region.

During the StartMashreq Incubation program, which will be carried out across four cycles, participants will receive the training and resources they need to develop a comprehensive business plan and growth strategy. Trainers and mentors will be available to guide participants through interactive, one-on-one sessions, while group sessions will allow these entrepreneurs to share their experiences and exchange expertise.

For more mature startups, StartMashreq’s Growth Support Program will help participants pursue advanced opportunities for growth. The program will provide a total of 20 startups throughout the region with access to a series of workshops and meetings tailored to address their unique challenges and needs. These participants will gain access to international networking channels and events, where they will be able to meet potential partners, customers, and investors. Most importantly, participants will receive local and international legal support at no cost.

“Entrepreneurs can be game changers when it comes to job creation and economic growth in the Levant region. However, underserved groups, like women, young people, and the forcibly displaced, struggle to access the support they need to start a business. I am proud that IFC is partnering with Flat6Labs to launch the StartMashreq program to help startups get critical training, mentorship, and funding,” said Khawaja Aftab Ahmed, IFC Regional Director for the Middle East, Pakistan, and Afghanistan.

Commenting on the launch of the program, Yehia Houry, Flat6Labs Chief Programs Officer, said, “The Arab world, and the Levant region in particular, has always been full of promising young people with big ambitions. Unfortunately, many of the youth in our region lack access to the tools, resources, and opportunities they need to succeed. At Flat6Labs, we believe in the importance of providing a complete system of support for all segments of society and all stages of the entrepreneurial process, which is why we are proud to launch the StartMashreq program, which complements our existing investment programs in Jordan and Lebanon. Through this initiative, we hope to inspire an entrepreneurial movement and provide the tools and resources necessary to nurture that movement.”

The StartMashreq platform will be open to all interested candidates across Jordan, Lebanon, and Iraq to access free educational content and tools, helping them enrich their expertise. To apply for the Incubation and Growth Support programs, interested individuals and entrepreneurs should create an account on the StartMashreq website and complete the registration form. The support from the IFC and the government of the Netherlands for StartMashreq falls under the PROSPECTS Partnership. PROSPECTS is a global partnership that aims to improve the access of host communities and forcibly displaced people to education, social protection, and decent work. The partnership is spearheaded by the Government of the Netherlands, and it brings together IFC, the International Labour Organization (ILO), the UN Refugee Agency (UNHCR), the UN Children’s Fund (UNICEF), and the World Bank.

Flat6Labs, the MENA region’s leading seed and early-stage venture capital firm, and PwC have signed a Memorandum of Understanding (MoU) to provide support to start-ups with high growth potential in the region.

“Flat6Labs has a proven track record in carefully vetting out and investing in promising start-ups, and thereby enabling thousands of passionate founders to achieve their daring ambitions, while supporting the region’s flourishing entrepreneurship ecosystem,” said Yehia Houry, Chief Program Officer at Flat6Labs. “Our partnership with PwC plays to the strengths of both our organisations, with the end result being significant value to our portfolio start-ups, as well as to enterprises across the region that will stand to benefit from the disruptive innovations they bring to market.”

Under the terms of the agreement, Flat6Labs will work to identify and position start-ups from its portfolio as potential solution providers under PwC. Initially, the focus of this endeavour will be on startups that operate across the rapidly evolving financial services and telco sectors. The companies will also set up a joint working group that will engage with prospective enterprises and priority clients to develop corporate innovation programs and innovation challenges.

World-class mentorship is a defining element of Flat6Labs’ incubator programs across the region, and the MoU seeks to strengthen the company’s value propositions in this area as well. PwC’s sector and industry experts will participate as coaches, mentors, and trainers in various Flat6Labs programs, thereby giving start-ups unrivalled access to some of the industry’s foremost advisors and thought leaders. PwC Middle East will also extend its unparalleled expertise to Flat6Labs start-ups in preparing for and navigating the later stage funding rounds, from Series A, all the way up to IPO preparedness, having worked with over 20 global unicorns.

Mark Stanley, Financial Services Partner at PwC Middle East said, “Our strategic partnership with Flat6Labs is part of PwC’s Ventures strategy and indicative of our commitment to growing capabilities beyond our own, empowering start-ups and building a world-class regional ecosystem. We believe there is untapped talent and disruptive capabilities in start-ups that lack access to the established industry incumbents that PwC proudly serves. The established VCs operating in this region are a really effective route to source, qualify and partner with these emerging startups. Together with Flat6Labs, we will mobilise our strategy through execution capabilities, to help our clients design, build and scale new ventures, powered by the market’s leading startups.”

To date, Flat6Labs has invested in 355 start-ups through its various programs across the MENA region. Collectively, these firms have gone on to raise over US$180million in funding and many of these organisations are today enterprise-scale businesses that continue to pioneer advancements in their respective sectors.

Abu Dhabi, United Arab Emirates – In a bid to further strengthen Abu Dhabi’s entrepreneurship ecosystem, Flat6Labs, the MENA region’s leading seed-stage program and early-stage venture capital firm, and Wio Bank, the region’s first platform bank, have signed a Memorandum of Understanding (MoU).

Under the agreement, start-ups from Flat6Labs Ignite, a specialised seed program run by Flat6Labs in a partnership with DisruptAD, will have the opportunity to take advantage of Wio’s innovative banking products and services under Wio Business, the bank’s first digital banking application, which is designed to provide a seamless and innovative experience tailored to the specific needs of start-ups and SMEs.

“There is potentially no other factor that more heavily decides the fate of a start-up than its ability to effectively manage its finances. These organisations need banking partners that have a start-up ethos — centred around agility, flexibility, and innovation,” said Ryaan Sharif, General Manager at Flat6Labs UAE. “Our long-standing expertise in empowering start-ups to establish themselves in the UAE and raise the funding they need to fuel their ambitions aligns perfectly with Wio Bank’s vision of not only providing world-class banking services, but serving as a holistic banking management platform for the modern SME.”

Under its flagship seed program, Ignite, Flat6Labs is set to support up to 60 start-ups in Abu Dhabi by 2024, with 27 disruptive organisations already having successfully invested in the 3 cycles that have already concluded. By partnering with Wio Bank, Flat6Labs has ensured that start-ups selected for this program will now enjoy Wio Business’ prioritised processing of account opening applications, as well as around-the-clock access to dedicated support services. “This is especially beneficial to the start-ups we attract from international markets as it enables them to seamless transition into establishing their headquarters in Abu Dhabi without any disruption to financial operations,” said Sharif.

Wio Bank has invested in establishing a team of high-qualified technology experts with a broad range of skills related to digital transformation and financial innovation. Under the agreement, Wio Bank will make these professionals available as subject-matter experts and mentors to Ignite program start-ups, thereby further strengthening the value-proposition of the program.

Prateek Vahie, Chief Commercial Officer of Wio Bank said, “Being a disruptor in the financial sector, we believe we have a critical role to play in supporting the start-up ecosystem and fostering entrepreneurship in the UAE. We are committed to ensuring that our SME customers find the most viable options for the support they need, be it through funding via traditional credits or loans, peer to peer lending, angel investments, or incubators. As we develop our offerings tailored to the SME sector, we will benefit from the insights and expertise of other major players in the ecosystem, such as Flat6Labs.”

Wio Business provides start-ups, freelancers, and SMEs access to banking services seamlessly while giving them the opportunity to move forward with innovative beyond-banking services. The app, which streamlines all business banking services in one place, will also integrate payment information and services, enabling businesses to manage everything in one place, on-the-go.

 

About Wio Bank PJSC:

Wio Bank PJSC is an integrated digital banking platform jointly owned by Abu Dhabi Development Company (ADQ), Alpha Dhabi Holding, Etisalat, and First Abu Dhabi Bank (FAB) with an initial capital outlay of AED 2.3 billion. The bank is regulated by the Central Bank of the UAE.

About Flat6Labs

Flat6Labs is the MENA region’s leading seed and early-stage venture capital firm, currently running the most renowned start-up programs in the region. Annually, Flat6Labs invests in more than 100 innovative and technology-driven start-ups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders.

Flat6Labs manages a number of seed funds with a total AUM in excess of $85M. More than 25 leading institutions have invested into the Flat6Labs managed fund. Alongside investments, Flat6Labs’ start-up programs, executed to cater specifically to the needs of innovative entrepreneurs, help them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors and corporates.

Launched and headquartered in Cairo since 2011, Flat6Labs has multiple offices across the region; with ongoing plans to expand into other emerging markets.

Cairo, Egypt – 12 December 2022
ELSEWEDY ELECTRIC – the leading energy & infrastructure solution provider, The Knowledge Hub Universities (TKH), and Elsewedy Education’s initiative – the Innovation Hub – launch a “Clean and Deep Tech Hackathon Program” (Climathon) in collaboration with Flat6Labs – the region’s leading seed and early-stage venture capital firm. The program aims to provide Coventry University branch students hosted at The Knowledge Hub Universities, and ELSEWEDY ELECTRIC’s Graduate Development Program (GDP) with the unique opportunity to present and pitch their innovative tech solutions addressing one of today’s greatest challenges – climate change.

The Climathon will take place over 3 days, hosting up to 30 teams competing across a series of tailored sessions and interactive workshops. The Climathon core themes focuses specifically on Smart Cities, Agritech, Industry 4.0, Energy & Water Management. The Knowledge Hub Universities will host the Climathon at its premises providing technical support and facilities for the program including labs, equipment, classrooms, and catering areas. Aiming to foster and drive innovative mindsets, as well as to bridge the gap between the business and educational sector, the teams will have access to the required tools, resources and mentorship supporting their proposed solutions in the Clean and Deep Tech domain.
Believing that fostering technology will enable its employees to be a global and competitive work force, ELSEWEDY ELECTRIC aims to increase its intellectual capital value through identifying viable and innovative solutions for today’s challenges while providing technical support, coaching, guidance, employment opportunities in addition to monetary prizes for the winning teams. Banking on its successful track record, Flat6Labs will provide an effective program and setup, as well as insightful training and mentorship, alongside the onsite management to help the tech-driven entrepreneurs grow.
Mr. Emad Ghaly, Chief Innovation Officer, Elsewedy Electric commented, “We are aiming to foster the revolution in technology and environmental sustainability through the Climathon, bringing together ELSEWEDY ELECTRIC and The Knowledge Hub. By convening spaces where youth can champion the fight for climate justice, and use of technology to develop new ventures and solutions for local and global challenges we empower them to drive sustainable change and stimulate their brilliant minds to express their innovative ideas. We are certain that they can contribute to the development of ground-breaking technological solutions for our modern world climate challenges.”
“We are all responsible for fighting the environmental challenges our world is facing today and we -at El Sewedy Education and The Knowledge Hub Universities- are keen on providing youth with the skills and resources to be able to tackle such challenges through The Climathon. Partnering up with Flat6Labs and Elsewedy Electric will bring young brilliant minds together to elevate their ideas and solutions towards a sustainable future of our planet” said Ihab Salama, Chief Executive Officer at El Sewedy Education and Vice Chairman – The Knowledge Hub Universities Board of Trustees.

‘’Climate change is currently a major challenge on the world’s agenda. Egypt is following the steps of other global economies in efforts to mitigate the impact, hosting COP27 this year and launching multiple projects. There’s a dire need for all experts from the public and private sectors as well as youth to join forces to meet ESG goals. Our program provides bright minds and future potential leaders with essential guidance, expertise, and knowledge to support a sustainable and green economy, in alignment with Egypt’s National Strategy for Climate Change 2050.” stated Hassan Mansi, Flat6Labs Head of Ecosystem Development Programs.

About ELSEWEDY ELECTRIC
Elsewedy Electric (EGX: SWDY.CA) is a leader in integrated infrastructure solutions, focused on delivering turnkey projects on fast-track basis. For over 80 years, Elsewedy Electric has been committed to sustainable solutions that create opportunities, support communities & strengthen economies. Across Africa, Middle East & Asia, the company operates in 5 business lines: wire, cable, & accessories, electrical products, engineering & construction, digital solutions, and infrastructure investments. Elsewedy Electric employs 17,000 people, operating in 48 international offices and 31 production facilities, exporting to over 110 countries worldwide.
Headquartered in Egypt, Elsewedy Electric announced revenue of EGP 60.5 billion with net profit of EGP 3.5 billion in December 2021.
News about Elsewedy Electric is available on www.elsewedyelectric.com

About TKH

TKH is a multidisciplinary educational hub hosting branches of world-class universities, each to participate with programmes in their areas of strength, providing an intellectually stimulating, enriching, and credible educational experience.
The Knowledge Hub provides a healthy learning environment for students to maximize their potential, develop critical thinking skills, and become future leaders in their respective communities. Creating a connected community of students and faculty from diverse backgrounds, where experiences and ideas are openly exchanged.

About Flat6Labs
Flat6Labs is the MENA region’s leading seed and early-stage venture capital firm, currently running the most renowned startup programs in the region. Flat6Labs invests in innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders.
Flat6Labs manages a number of seed funds with a total AUM in excess of $85M. More than 25 leading institutions have invested into the Flat6Labs managed funds: believing in the asset class and Flat6Labs’ proven track record as the market leader. Flat6Labs provides a wide range of investment ticket sizes ranging from $50K to $500k, supporting startups through their early journeys from Pre-Seed all the way to Pre-Series A stages. Alongside the investments, Flat6Labs’ exceptional startup programs, executed to cater specifically for the needs of the innovative entrepreneurs, helps them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors, and corporates.
Launched and headquartered in Cairo since 2011, Flat6Labs has multiple offices across the region; with ongoing plans to expand into other emerging markets.