The startup accelerator, Changelabs, is back in Egypt to hold its second cohort demo day, after a total of over EGP 4m was given to ambitious startups as funding in the first round last year.
Following this success, 13 graduating startups will pitch to investors, industry experts, and entrepreneurship ecosystem stakeholders on 30 September, as part of the programme’s demo day.
The startups, who are poised to create significant economic value while leveraging technology and delivering jobs, have joined the Changelabs accelerator programme. It is being run in partnership with several leading sponsors, including Green for Growth Fund, Amazon Web Services, and the Dutch entrepreneurial development bank, FMO.
Building on the importance of sustainable impact and its effect on Egypt’s growth and development, five of this year’s selected startups tackle the issue of green energy. Other startups are focusing on various impact tracks such as FinTech, HealthTech, and EdTech.
The participants will pitch their innovative and game changing business models at the 30 September demo day, drumming up investor interest and aspiring to penetrate the Egyptian market.
Changelabs Co-Founder Karim Samra highlighted the importance of entrepreneurial initiatives for Egypt’s economic and sustainable development, saying, “With the Egyptian government’s vision to achieve a sustainable footprint, we believe in entrepreneurship and shifting to new business directions dictated by the challenges we know and face every day.”
He added, “We also believe that these factors, along with the potential of Egypt’s youth are the ultimate levers that will help put the country in a leading position, with sustainable impact emerging as one of the key verticals in the country’s entrepreneurship ecosystem.”
The Changelabs accelerator programme provides training, mentorship, and support to the selected innovative startups. These will provide them with the skills to practically face the challenges of the real-market, turning their ideas into investment-ready businesses.
Last year, ten graduating startups experienced a world class curriculum and a network of global mentors, with several of them receiving funding from Changelabs and its partners.
“We are proud to be showcasing the progress of our accelerated startups this year,” said Changelabs Co-founder, Jamal Khayyat. “We’ve got some innovative ideas and concepts among our 13 startups, from green energy providers like electric vehicle charging and electric scooter rentals, to FinTech services and fashion retail.”
