Flat6Labs Cairo, the leading startup accelerator in Egypt, holds its Spring 2020 Demo Day with eight new startups graduating from its first cycle of the year.
Flat6Labs Cairo’s Spring 2020 cycle commenced on 16 February and welcomed eight promising new teams, filtered from around 1,000 applications, who are now excited to launch their businesses to the general public. This cycle has entrepreneurs coming from all across Egypt and the startups are working across various industries, including Home Automation, Health Tech, Logistics, SaaS, Artificial Intelligence, on-demand car services, Freelance Marketplace, and Bio materials, offering innovative technological solutions set to disrupt the market.
The eight innovative startups presented their projects online in front of thousands of viewers including local and regional investors, mentors, reputable technology experts, top entrepreneurs, and influencers from the region. The press was also following the event to learn about the progress of startups and the latest innovations in 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 300+ entrepreneurs, during its five years investment period.
Every six months, Flat6Labs Cairo provides seed capital to 8-10 new startups, each company receives from EGP 500,000 to EGP 750,000 in funding for up to 10% equity. Flat6Labs Cairo has so far groomed and funded 106 startups, including “legacy” startups that have graduated from the programme since its launch in 2011.
Ramez El-Serafy, Flat6Labs CEO, says, “We’re extremely happy to be graduating this latest batch of eight startups and cannot wait to see how they’ll continue to scale their businesses to a new level post Demo Day.”
Marie-Therese Fam, Flat6Labs Cairo Managing Partner, says, “Our startups have been extremely resilient through a cycle that overlapped with COVID-19. They have developed and adapted their solutions to the pandemic. Personally, I am extremely proud of them.”
The eight graduating startups that are showcasing their technologies and business ideas at Flat6Labs Cairo Spring 2020 Demo Day include:
3atlana: a mobile application that offers car services on the go and connects users to trusted service providers.
Bosla: a speech analytics software that analyses human behavior.
CreditGo: a payment aggregator for Small Businesses.
Inploy: an online marketplace that connects businesses to premium freelance talent and SMEs.
Mycelium: transforming agriculture waste into new material that replaces plastic and synthetic wood.
Opio: a digital women’s fashion brand.
Tayar: Fleet Management SaaS powered by AI to automate and optimise home delivery operations for businesses.
Wedel: an on demand shipping and delivery hailing mobile application.
