Flat6Labs Cairo concludes 7th cycle, announces Abu Dhabi accelerator
Photo by Flat6Labs
The graduation-like Flat6Labs Demo Day concluded the accelerator’s 7th cycle by introducing the ten teams and launching its third facility in Abu Dhabi, in cooperation with twofour54 Media Zone, on Tuesday.
“This is the largest Demo Day we had and I cannot say enough about the efforts that have been exerted over the past three years,” said Ahmed ElAlfy, Founder and Chairman of Sawari Ventures, which created Flat6Labs in 2011.
Ahmed ElAlfy, Founder of Sawari Ventures at the Flat6Labs Demo Day - Photo by Flat6Labs
With 400 applicants, this cycle distinguishes itself from previous ones as it was preceded by a bootcamp with 20 startups, from which the ten finalists were chosen by a selection panel. “We tried to challenge their ideas in order for them to get more innovative,” Ramez Mohamed, CEO of Flat6Labs told Egypt Business Directory. “We also had more mentors this cycle, as well as increased funding and additional acceleration time.”
Following is a short description of the ten startups:
1 – Ennota.com is a localized finance management solutions provider for small businesses in the MENA-region.
2 – Telecosys provides innovative software solutions for Telecom providers.
3 – Khobz designs and manufactures a fully automated bakery machine producing the iconic Egyptian Pita bread.
4 – Tamreeni is the first fitness and wellness online platform targeting the MENA-region.
5 – Codly has reinvented the process of mobile app development to make it easier, faster and available to everyone.
6 – Farminal manufactures cost-saving technology solutions for dairy farms.
7 – LocName is the ultimate way to share your address by generating a unique name in just 3 clicks.
8 – Reform Studio is an internationally award-winning design studio, producing responsible and thoughtful products.
9 – Mapture is a mobile application that allows users to anonymously upload content that is verified by date, time and location on a map.
10 – Sunergy offers cost-effective renewable energy solutions with a special focus on lighting and agricultural applications.
In a surprise visit, the Minister of Communications and Information Technology Eng. Atef Helmy praised the startups at the Demo Day, saying: “Because of you, I believe Egypt will have a great future.” He added: “I have seen a high level of energy and confidence tonight. I would like to thank Flat6Labs for the contribution and leadership in driving one of the most important initiatives for the future of Egypt, which is innovation and entrepreneurship.”
Eng. Atef Helmy, Minister of Communications and Information Technology at the Flat6Labs Demo Day - Photo by Flat6Labs
Even though funding is a very important pillar for a startup, Mohamed is very strict about the concept of mentorship: “We tell all entrepreneurs: If you are here for the funding, don’t come. Mentorship is a very important element and they should make use of all the sessions and training we offer them.”
As one of the entrepreneurs, Shady Mahmoud, CTO of Khobz, stated: “We chose Flat6Labs because it offered exceptional mentorship and now it fulfilled our dream. We got funding and a lot of mentorship and networking opportunities. We became an actual entity.”
While Flat6Labs in Jeddah is mainly addressing Saudi entrepreneurs and Cairo’s arm is focusing on Egyptian startups, the new hub in Abu Dhabi will be open for international entrepreneurs. “We do not have real startup success stories in the region. We need more of those,” Mohamed concludes.
Photo by Flat6Labs
Flat6Labs is a regional startup accelerator program that fosters and invests in entrepreneurs with cutting-edge ideas by providing seed funding, strategic mentorship, a creative workspace, entrepreneurship-focused business training and networking opportunities.