Flat6Labs Cairo now offers startups joining its 12th Accelerator Cycle launching in January 2019 a minimum of EGP 500K to a maximum of EGP 750K in cash funding. The all cash advance will help cover the startups’ early expenses, define their product, and grow their market.
Additionally, each startup will enter a customized Flat6Labs Cairo intensive 4-month acceleration curriculum. Upon completion, each startup will be offered up to EGP 2M in post-acceleration follow-on funding to match external investors. Flat6Labs Cairo partners with the selected startups entering the acceleration program in exchange for 10% equity.
Startups that meet predefined criteria by a designated social impact committee are also nominated to receive grant funding of up to $25K each, and support for teams joining the program from outside Cairo will also be offered in the form of a monthly stipend of EGP 5K per team for the duration of the program.
This is with the support of StartEgypt, a startup initiative funded by the UK government, supported by the IFC and powered by Flat6Labs to inspire, incubate and support Egyptian entrepreneurs and social impact enterprises.
“Being in close contact and on the ground with innovative Egyptian entrepreneurs, catering for their different needs and understanding what their varying challenges are has always been what Flat6Labs Cairo is all about” said Ramez El-Serafy CEO of Flat6Labs. “Flat6Labs Cairo is now proud to offer an even more attractive package than before for visionary Egyptian entrepreneurs looking to scale their businesses in Egypt and MENA” added El-Serafy.
Flat6Labs Cairo’s program team is accredited and licensed for Central European Design Standards & Global ISO guidelines for Innovation Management Systems, allowing teams to empower a deeper handling of business cases to truly compete amongst the most innovative startups in the region and further extended their networks and expand globally.