After more than 230 hours of online business training to help them grow their client base, refine their offerings, expand to new markets, and form strategic collaborations, eight Egyptian startups have just graduated from Flat6Labs Cairo Seed Programme’s 16th cycle.
Flat6Labs’ seed program in Cairo delivers a consistent pipeline of 18 to 20 new promising entrepreneurs to the local VC market every year, with the goal of injecting new life into Egypt’s economy. In reality, the eight graduating firms were chosen from a pool of over 1000 submissions from around Egypt.
“As the startup ecosystem in Egypt continues to mature, the number of applications for our seed programme has been increasing cycle on cycle. But it’s not just the number of applications, we are also witnessing a rise in the quality of the pipeline and startups applying and joining our programme,” says Albert Malaty, managing director of Flat6Labs Cairo Seed Programme.
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- In exchange for up to 10% equity, each firm got a seed investment ranging from EGP500,000 to EGP750,000 in cash investment.
“We have recently completed the second close of our EGP207 million Egypt-based fund, having received massive support from all our anchor investors. The current fund size allows us to provide a more suitable investment to our startups at the current turbulent times, helping them attract the right talents, acquire more customers, and survive longer,” says Marie Therese Fam, managing partner of Flat6Labs Egypt.
Read also:Egyptian Credit Card Management Startup, CreditFins, Raises Pre-Seed Round Led By Flat6Labs
- Flat6Labs’ Spring 2021 Cycle kicked off on March 14th, 2021 in Cairo, with the goal of assisting the following eight resilient startups in developing products and services in a variety of industries, including healthtech, supplies and logistics, eCommerce, food and beverage, fintech, and advertising.
The Successful Startups Are:
CreditFins, Inc.
CreditFins established Egypt’s first tech-enabled credit card management platform to assist consumers assess and improve their spending. CreditFins also offers a variety of instructional resources to help customers settle their credit card debt swiftly and cheaply.
dKilo
The startup places digital adverts on moving cars that are controlled remotely. dKilo was able to successfully deploy 10 automobiles in four months, producing EGP 75,000 in monthly revenue and 6 million monthly impressions.
The Deli Llamas
The Deli Llamas, a food-tech firm, designed “School Lunchies,” a flagship brand of kid-specific lunch dishes, to encourage balanced nutrition, autonomy, and a fun experience. School Lunchies is a website where students can purchase freshly prepared meals that are delivered to their schools every day. The Deli Llamas were able to secure deals with two businesses on the North Coast by jumping on the summer bandwagon.
Read also:Egypt’s Flat6Labs Closes $13.2m New Fund, Invites Startups To Apply For Seed Funding
The Baby Garage
The Baby Garage is a shopping advisory marketplace for children’s items and services, in addition to its 360-degree parent assistance platform. The team handles a variety of different business units, including the marketplace, the content blog, discount cards, and on-ground activations, and presently serves 550 thousand parents in Egypt, with revenues up 70% this year. The Baby Garage was founded in 2015 and is now part of the Ministry of Telecommunication’s Technology Innovation and Entrepreneurship Center.
ELSupplier
Egypt’s first online platform for suppliers to list their products and services is this B2B wholesaler lead generation platform. The ELSupplier technology solution increases a supplier’s reach, allowing them to enter new markets at a cheaper cost and saving salespeople hundreds of hours. ELSupplier has produced EGP 160,000 in income and added 4,000 new users since the cycle began.
Intixel
Intixel, a health-tech business founded in September 2018, provides image-analytics engines to medical imaging companies. Intixel introduced AIRA Breast, its first clinically proven product, in December 2020, with the goal of empowering radiologists in breast-cancer screening programs with AI-powered solutions. The Intixel team is made up of AI and medical imaging experts who have been hand-picked. Intixel has now released a beta version of its AIRA Breast solution, which is currently available for online use in the cloud.
Lumiere
Lumiere, the go-to destination for affordable luxury, debuted in late 2020, bringing together a community of the most intriguing independent luxury companies and modern, emerging designers from all over the world, hailing from all areas and cultural backgrounds. So far, they have approximately 2500 stock-keeping units posted on their website for 30 different designers.
Nureab
Nureab, the region’s leading manufacturer of rehabilitation robots, provides revolutionary motor therapy equipment to speed up patients’ recovery periods and outcomes, making the recovery process for patients with mobility problems easier. Physical therapists can correctly evaluate their patients’ progress and offer them the most appropriate treatment regimens using Nureab’s product, which is 95 percent complete and in phase 3 testing.
The teams of the aforementioned startups have received intensive training on topics ranging from Financial Modeling, Business Modeling, Growth Hacking, Business Storytelling, and Technology Pitfalls to Pricing, How to Be Investor Ready, Product UX/UI, and Strategic Partnerships over the past four months.
Startups Looking To Participate In The Next Edition Are Invited
The next cycle will begin in September, and interested startups can apply here.
Flat6Labs Egyptian startups Flat6Labs Egyptian startups
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer