In enabling innovative startups to scale across MENA, 9 tech startups were unveiled by Egypt’s venture capital Flat6Labs at the fall 2021 demo day. During the celebration of the 4-month journey of the startups, they were allowed to sell themselves to potential clients to garner support for their business.
According to the Seed Program Cairo team, the tech startups from the 17th cycle of Egypt’s Flat6Labs seed programme has products and services that cut across multiple sectors, including Health Tech, E-commerce, Food & Beverage, IOT devices, SaaS and Education Technology. To ensure the scalability of startups, Flat6Labs brought on board world-class consultants, coaches and mentors to work step-by-step with each of the startup teams and empower them to achieve their business goals. Also, Flat6Labs organises networking opportunities to assist startups in expanding their networks and connecting with global leaders.
In funding, Flat6Labs funds startups with $95,000 (EGP1.5 million) in exchange for 10 percent equity. To ensure the scalability of each startup, they select startups with follow-on funding up to $191,000 (EGP3 million), strategic mentoring, office space, opportunities and services from their partners, which is $300,000+, and entrepreneurship-focused business training and workshops.
Marie Therese Fam, the managing partner of Flat6Labs Egypt, said, “Our current fund size allows us to provide a more suitable investment to our startups at current times, helping them attract the right talent and survive longer. Flat6Labs Egypt now offers seed tickets up to EGP 1.5 million and follow-on funding tickets to select startups can reach EGP3 million”.
The tech startups unveiled by Egypt’s Flat6Labs are Edupay, which aims to simplify transactions and interactions in education; Elmawkaa, a B2B e-commerce app that helps contractors connect seamlessly with suppliers; Kokens, a “kitchen-as-a-service” platform that transforms online food recipes into a menu available to everyone; and PacknSave, an e-commerce store for bulk grocery buying.
Also, Qubx, an on-demand 3D radiological service provider; Venu, a modern tech solution to enhance users’ experience with restaurants; Zatona Eats, an all-in-one meal planning and ordering app; Zr3i, which provides crop monitoring, management, and farm-to-fork product traceability services; and Waseya, an online will-maker.