Flat6Labs - Afrikan Heroes

Leading Accelerator and Investor, Flat6Labs, Expanding to the Rest of Africa

October 13, 2023

Flat6Labs, the distinguished accelerator and investor known for its operations in the Middle East and North Africa (MENA) region, is poised to embark on a transformative journey that will extend its influence across the entire African continent. This was disclosed by Faten Aïssi, Deputy Director of Flat6Labs during the conclusion to the “Scale Up Tunisia” program, Tunisian startups celebrated their achievements on October 11, 2023. The initiative, led by Flat6Labs and backed by various partners, including the Fast project, the International Finance Corporation (IFC), and the French Development Agency (AFD), marked a significant milestone in Tunisia’s entrepreneurial ecosystem. Technical support was provided by Expertise France, and collaboration with the Tunisian Caisse des Dépôts et Consignations (CDC) further enriched the program.

Empowering the Entrepreneurial Ecosystem

The primary objective of the “Scale Up Tunisia” program was to strengthen the entrepreneurial landscape in Tunisia. It placed a particular emphasis on fostering female entrepreneurship and regional development. The results were remarkable, with the program leading to the creation of 63 jobs, with almost half of them filled by talented Tunisian women.

Over the course of 18 months, 20 startups, including seven led by women, underwent an intensive learning process. They received more than 500 hours of tailored coaching from 32 seasoned mentors. The coaching encompassed vital areas like agile methodology, sales strategies, market access, investment readiness, and legal and regulatory compliance.

Creating Opportunities and Access to Global Markets

Faten Aïssi, Deputy Director of Flat6Labs, lauded the program’s impact, highlighting how it opened doors for Tunisian startups on the global stage. She emphasized the role of the program in facilitating access to international markets and supporting startups in raising critical funding. Notably, five startups managed to secure over 2 million Tunisian dinars in investments, showcasing the program’s tangible benefits.

According to Aïssi, the leading venture capital firm is gearing up to venture into Africa, further solidifying its commitment to entrepreneurship across the region.

Collaboration with Esteemed Partners

Crucially, the “Scale Up Tunisia” initiative garnered robust support from prestigious partners. The Fast project, IFC (a World Bank Group member), and funding from the French Development Agency (AFD) were instrumental in making the program a success. The involvement of Expertise France and collaboration with the Tunisian Caisse des Dépôts et Consignations (CDC) provided essential technical support, further enhancing the program’s reach and effectiveness.

Showcasing Innovative Ventures

The closing ceremony of “Scale Up Tunisia” was a pivotal moment for the startups nurtured by the program. It provided a platform for these budding entrepreneurs to present their innovative projects to both Tunisian and international investors. This exposure is crucial for startups as it eases access to the necessary funding required for their continued growth and success.

Diverse Entrepreneurial Pitches

The startups’ pitches covered a diverse range of sectors and industries. Notable presentations included:

Kamioun: Founded and led by CEO Fares Belghith, Kamioun operates as a mobile platform serving small retailers and restaurateurs in Greater Tunis. The platform optimizes the supply chain, resulting in faster orders and cost-effective deliveries. The startup has exciting plans to expand its services, including internal stock management and bill payment solutions.

Anavid: Co-founded by Ahmed Chaari, Anavid specializes in artificial intelligence and real-time video surveillance analysis. The company focuses primarily on the retail sector, aiming to reduce losses associated with shoplifting by providing real-time video analysis, which offers valuable insights to store managers.

Dabchy: Under the leadership of CEO and co-founder Ameni Mansouri, Dabchy serves as a marketplace for buying and selling new or used fashion items for women and children. With a significant user base, this e-commerce platform actively promotes sustainable fashion and recently expanded its operations into Egypt.

Ijeni: Safi Negra, CEO and co-founder of Ijeni, leads a multiservice platform in Tunisia that connects local service providers with individuals and businesses seeking specific services. Ijeni offers a wide range of services, including cleaning, gardening, beauty and wellness, healthcare, and handyman services. The platform’s primary goal is to simplify access to high-quality local services while offering service providers an online platform to broaden their reach.

We-Settle: Co-founder and COO Wela Moula leads We-Settle, a fintech startup offering a modular solution for processing and paying bills. The platform aids small and medium-sized enterprises (SMEs) in efficiently managing their digital invoices, saving them significant time through AI-driven invoice processing and electronic signatures. Clients can make direct payments through online banking and monitor their payment status in real-time.

The “Scale Up Tunisia” program, powered by Flat6Labs and supported by a network of esteemed partners, has demonstrated its value in empowering Tunisian startups. The proactive approach to supporting female entrepreneurs and regional development has led to concrete job creation and significant investments. The program’s positive impact is evident, and the future expansion plans of Flat6Labs into Africa reflect a continuing commitment to fostering entrepreneurship in the region. The startups presented at the closing ceremony showcase the immense potential and creativity within Tunisia’s entrepreneurial landscape.

Flat6Labs is a seed and early-stage venture capital firm that operates in the Middle East and North Africa (MENA) region. They are currently running the most renowned startup programs in the region, investing in more than 100 innovative and technology-driven startups annually 1. Flat6Labs has locations in Egypt, Lebanon, Tunisia, Bahrain, Jordan, and the United Arab Emirates (UAE).

Flat6Labs Africa Flat6Labs Africa

South Africa’s TymeBank Reaches 8 Million Customer Milestone in Just Four Years

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the con

Flat6Labs To Make More Investments In Tunisian Startups With $10m New Fund

September 28, 2021

Flat6Labs, a regional seed and early-stage venture capital firm, has announced the second closing of its Tunisia-based Anava Seed Fund (ASF), increasing its impact through world-class startup programs across the North African markets from $3 million to $10 million. This comes after the second closing of the Egypt-based Flat6Labs Accelerator Company fund (FAC) in May 2021, which raised $13 million to promote Egyptian early-stage entrepreneurs.

The Anava Seed Fund was established in 2017 in collaboration with the Tunisian American Enterprise Fund, BIAT Bank, and Meninx Holding with the goal of investing in 75 Tunisian early-stage companies over the course of five years.

“We’re very excited about our latest second close for the Tunisia-based Anava Seed Fund, we believe that the North African markets hold untapped potential and unique business opportunities, and I’m happy to see that more and more investors are sharing our enthusiasm towards this rapidly growing market by increasing their commitments in both FAC Egypt Fund and Anava Seed Fund. We look forward to expanding our impact even further in North Africa with the support of our investors and partners,” Ramez El-Serafy, CEO at Flat6Labs, said.

Here Is What You Need To Know

Over the previous four years, the Anava Seed Fund has successfully invested in over 50 Tunisian entrepreneurs through seed, follow-on, and pre-series A rounds, covering 22 various industries such as Fintech, Education, Agri-tech, Delivery Services, Retail-Tech, Health-Tech, and Aeronautics. More than 500 well-paying positions have been created as a result of these enterprises, with women accounting for 61% of the workforce.

Through its Cairo and Tunis Seed funds, Flat6Labs has taught over 440 entrepreneurs and invested in 130 firms for a total of $10.5 million. It’s also worth noting that Flat6Labs’ North African startups have raised more than $37 million in follow-on funding.

With a $1.6 million investment, Sawari Ventures is the most recent addition to the Anava Seed Fund’s investor list.

“We are very proud of our investment in the Anava Seed Fund as we have closely followed their progress and are more than convinced that Tunisia has talented entrepreneurs working on promising startups” said Wael Amin, Managing Partner at Sawari Ventures.

Flat6Labs Tunisian startups Flat6Labs Tunisian startups

International Finance Corporation (IFC)injects $1 million into Flat6Labs Tunis (Anava Seed Fund)

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

Eight Egyptian Startups Secure Funding From Flat6Labs Cairo Seed Programme

August 2, 2021

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.

Here Is What You Need To Knowq`1111

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.

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

Egypt’s Flat6Labs Closes $13.2m New Fund, Invites Startups To Apply For Seed Funding

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

Startup Accelerator Flat6Labs Launches Ignite Tunisia To Support Startups

June 7, 2021

North Africa-focused startup accelerator, Flat6Labs, has launched Ignite Tunisia, a capacity building program for regional support structures in Tunisia. The program is being funded by the European Union and implemented by Expertise France as part of the “Innov’i” project.

*Yehia Houry, Managing Director of Flat6Labs*

“Ignite Tunisia was born from a reflection of more than two years. We were able to identify the challenges encountered by the regional support structures which can range from the establishment of a program adequate to the needs of entrepreneurs in each region up to to the economic model of said structures. Through Ignite Tunisia, we have set ourselves the mission of transferring skills to enable regional structures and startups to have an active and innovative ecosystem,” said Yehia Houry, Managing Director of Flat6Labs .

Here Is What You Need To Know

Ignite Tunisia aims to strengthen the capacities of 20 structures such as incubators, coworking spaces, associations as well as public structures operating directly with startups. The aim is to ensure the viability of the structures and to increase the number of startups created in the regions.

Given the fact that 90% of startup support structures are based in the capital Tunis, Ignite Tunisia is a program that aims to boost regional ecosystems by transferring skills and expertise in the implementation of support programs for startups that Flat6Labs has acquired for more than a decade of operation across the MENA region. The program will be implemented during 24 months and will support 20 structures over 3 cohorts.

“By supporting 20 support structures in the governorates, Flat6Labs contributes to increased regional integration of the Tunisian ecosystem and to a better territorial network to support entrepreneurs. It is also a lever for disseminating the culture of the innovation and to open up access to new opportunities for project leaders,” said Clara Guilhem, Innov’i project manager.
Read also:Africa’s Business Heroes Renews Calls For Applications From African Entrepreneurs

More than 80 of such support structures from the four regions of Tunisia have applied to be part of the first cohort of Ignite Tunisia.

They will benefit from and have access to an extensive network of experts, mentors and investors from Flat6Labs.

The program will also allow the creation of a community of structures in order to optimize exchanges and facilitate contacts between the different actors. It will be set up over 24 months and will support 20 structures over 3 cohorts.

South Africa Says It Has No Plans To Ban Trading In Crypto Assets

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

Egypt’s Flat6Labs Closes $13.2m New Fund, Invites Startups To Apply For Seed Funding

May 23, 2021

This year, money is pouring in for Egyptian startups. Flat6Labs, a regional Seed Program and Fund, is the latest to enter the list, of freshly formed funds for entrepreneurs in the North African country, having announced the second closure and increase of its Egypt fund from EGP50 million to EGP207 million ($13.2m) to help Egyptian early-stage entrepreneurs. Flat6Labs has also announced that the cash seed offering for its Cairo Seed Program will be increased to up to EGP1.5 million ($95k), with up to EGP3 million ($190k) in post-program follow-on funding available for selected startups.

*Marie-Therese Fam, Managing Partner at Flat6Labs Egypt*

“I am extremely proud of our fund’s second close and the incredible support we have received from all our investors,” Marie-Therese Fam, Managing Partner at Flat6Labs Egypt, said.

The International Finance Corporation, the MSME Development Agency, the Egyptian American Enterprise Fund, and Egypt Ventures are all current Anchor Investors in the FAC fund, and have all expanded their investments to support more early-stage technology startups in Egypt. The fund’s second close also saw participation from Sawari Ventures. Sawari Ventures is the Fund’s most recent major investor.

Why The Investors Invested In The Latest Fund

“Flat6Labs Egypt plays an integral role at the seed stage within the local and regional ecosystems; successfully providing the foundational support startups need through funding and mentorship, which is appealing for us. At Sawari Ventures, our fund strategy has always been to allocate a percentage of our fund to the seed stage which is a completely different proposition in terms of process, culture, and support needed. As investors in Flat6Labs Accelerator Company, we get the opportunity to profitably participate in Egyptian companies at a very early stage, get early indicators on ecosystem trends, and visibility into the ecosystem,” Wael Amin, Managing Partner at Sawari Ventures, said.

“Flat6Labs is participating in the development of the startup ecosystem in Egypt. We are proud to support them in helping our community embrace the digital economy”, added Ahmed Gomaa, CEO of Egypt Ventures.

Highlighting Flat6Labs’ role in nurturing a promising startup ecosystem and closing the financing gap for entrepreneurs in Egypt, James Harmon, Chairman of the EAEF, said “We believe that startup accelerators are instrumental to building a robust entrepreneurial ecosystem, we are proud of Flat6Labs’ efforts and role in building the startup ecosystem in Egypt and will continue to support them as they fill an important financing gap in the market.”

Hany Emad, Head of Central Sector for SME Finance at MSMEDA, added, “We consider Flat6Labs as one of our strategic partners and due to the success achieved during implementing the first close, we decided to increase our commitment to reach EGP 35 million.”

“We are very excited to expand our partnership with Flat6Labs and increase our commitment to up to $2.5 million. We invested in Flat6Labs back in 2017 as part of IFC’s Startup Catalyst program and have since supported its growth and expansion in Egypt and more broadly in the region,” said Walid Labadi, IFC’s country manager for Egypt, Libya, and Yemen.

Flat6Labs Launches New Seed Program For Startups

Applications are now open for Flat6Labs’ Cairo Seed program, apply here.

A Look At What Flat6Labs Does

The Flat6Labs Accelerator Company (FAC) Egypt fund was founded in 2017 with the aim of investing in 100+ creative startups across Egypt over a five-year period, with a focus on tech-enabled solutions. The Flat6Labs Cairo Seed Program has run seven cycles in the last three and a half years, investing in 62 startups, training over 350 entrepreneurs, and creating over 1,000 jobs, with 96 percent of those employed being young people aged 19 to 35. In Egypt, approximately half of Flat6Labs’ portfolio companies have secured follow-on funding totaling EGP145,000,000.

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

Startups Invited To Apply For The 8th Edition Of “Flat6Labs Tunis Seed Program”

April 5, 2021

The Flat6Labs acceleration program, “Flat6Labs Tunis Seed Program” has just announced the start of its 7th acceleration cycle and has equally launched calls for startups to apply to be selected for its 8th cohort.

Flat6Labs is one of the leading seed venture capital companies in the MENA region. It currently manages the most reputable startup programs in the region.

Each year, Flat6Labs invests in over 100 innovative and tech-driven startups, enabling thousands of passionate entrepreneurs to achieve their ambitions and ultimately become their institutional co-founders.

Flat6Labs runs a 4-month accelerator program, twice a year, to help entrepreneurs develop their business skills and provide them with a supportive environment, to build their products, test their suitability for the market, improve their business models and showcase their products to external investors.

Since 2017, FLat6Labs Tunis Seed Program has supported 51 startups from 7 regions of Tunisia, invested 12 million Tunisian dinar and created more than 350 highly qualified jobs.

The 8 new startups selected for the 7th cycle of Flat6Labs operate in different sectors of activity, namely health, e-commerce, delivery, fashion, services, ed-tech as well as health and well-being.

These are:

Ahkili startup (mobile app for making appointments connecting patients to psychologists through telemedicine);

E-stores Factory (Web platform that allows you to rent and manage e-commerce stores for companies looking to sell online);

Hanoutify (Website generator that helps stores in the Maghreb region to develop their online presence;

Ms. Marion (Ready-to-wear brand for women who work in a formal work environment);

Lamma (Web and mobile platform which is reinventing urban mobility for parcel delivery through an extensive carpooling network);

Proservy (Web platform that digitizes the administrative and logistics management of companies);

Reedz (Mobile application for podcasts in Arabic and interactive book summaries in text and audio); and

WeMove (Marketplace for day passes to gym activities).

Applications For The 8th Cohort

Applications for the 8th acceleration cycle have already been launched until April 21.

Startups wishing to be part of the next cohort can apply via this link: https://www.f6s.com/flat6labstunis-cycle8.

“With the new challenges faced by entrepreneurs in the context of the new economic situation, it is our duty to support startups even better, by offering them a more suitable offer. Our program has become 100% virtual and this allows more ‘accessibility to startups from all regions of the country to be part of it,” says the general manager of Flat6Labs Tunisia, Yehia Houry.

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

Flat6Labs Tunis apply Flat6Labs Tunis apply

Impact Partner And Flat6Labs Team Up To Launch GreenWorks Program For Startups In North Africa

January 26, 2021

Impact Partner and Flat6Labs are joining forces and the expertise of their teams to launch GreenWorks program to support startups operating in the green economy sector in North Africa, particularly Tunisia.

Zeineb Fakhfakh, Managing Director of Impact Partner — *Zeineb Fakhfakh, Managing Director at Impact Partner*

“In light of the uncertainty caused by the health crisis testing several economic sectors, Impact Partner, in partnership with Flat6Labs, and with the support of IFC and Hivos, is banking on Tunisian entrepreneurs to build a greener economy, more resilient and more prosperous. Faithful to our mission to support social entrepreneurship for a positive and lasting impact, we aim through the GreenWorks and AccelerateForYouth programs to strengthen job creation for women and young people, especially in the regions ”says Zeineb Fakhfakh, Managing Director of Impact Partner.

Here Is What You Need To Know

GreenWorks is a support and funding program for young green economy promoters. It targets startups in North African countries, with particular emphasis on Tunisia. The ambition of the program is to support 30 entrepreneurs who work in the Green sector and whose projects immediately create jobs.
Through this program, Hivos and IFC seek to support and develop the green economy sector in Tunisia by partnering with various institutions and organizations for the capacity building of young entrepreneurs and by setting up training programs and support necessary for the development of their projects.
GreenWorks is thus a great opportunity to access a support program without equity participation and with donations of 30 KDT. There is also the possibility of applying for a larger investment with Impact Partner, Flat6Labs or with other investor partners.

“The economic recovery in Tunisia will require green, inclusive and responsible growth,” says Georges Joseph Ghorra, “ Resident Representative of the International Finance Corporation (IFC) in Tunisia. This is why it is essential to support entrepreneurs active in this field to develop and grow in order to build a resilient, inclusive and sustainable economy in Tunisia. IFC is very proud of its partnership with Impact Partner which supports entrepreneurs with projects related to the green economy. This partnership is part of the IFC Accelerate4Youth initiative which aims to support innovative entrepreneurship in Tunisia.”

How To Apply

To benefit from it, entrepreneurs in this sector are invited to participate in the first edition by submitting their applications online on a platform created for these purposes (https://application.impactpartner.co/GreenWorks/signup) until January 31, 2021.

GreenWorks will continue for the next two years with plans to launch additional editions.

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

GreenWorks Flat6Labs

Flat6Labs Cairo Accelerator Selects 10 Egyptian Startups

December 10, 2020

The Flat6Labs Cairo has selected 10 Egyptian startups have been selected to take part in its accelerator project which will give them access to funding, mentorship and other benefits. Launched in 2011 as the first office of the Flat6Labs MENA regional startup accelerator, the Flat6Labs Cairo programme provides startups with cash funding of between EGP500,000 (US$31,000) and EGP750,000 (US$46,000) with access to possible follow-on funding.

The selected startups will also gain access to strategic mentorship, office space, a multitude of perks and services from various partners, and entrepreneurship-focused business training and workshops. The accelerator runs two cycles each year, and has just announced its Fall 2020 cohort of 10 startups. They include Clakett, digital ecosystem for film and creative industry; Docspert, which connects patients seeking healthcare advice with internationally-renowned expert doctors; El-Dokan, a headless enterprise e-commerce software; Funnelll, an SaaS enabling marketing campaigns to translate into more sales; and Glued, a gamified learning platform for companies to train their employees.

Also selected are Hollydesk, which manages companies’ daily expenses with one cloud platform; Jilatee, a digital platform that connects fashion buyers and sellers; Konsolto, an e-prescription platform; RoboDesk, which works as an AI-powered contact centre; and Welnes, which helps nutritionists and fitness coaches to scale their operations.

Kelechi Deca

Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry

International Finance Corporation (IFC)injects $1 million into Flat6Labs Tunis (Anava Seed Fund)

September 30, 2019

Startups in Tunisia have got a new fund to pitch to. The International Finance Corporation (IFC), a member of the World Bank Group has announced it would be injecting $1 million into Tunisia-based Anava Seed Fund, an accelerator and early-stage fund managed by Flat6Labs Tunis.

“The move aims to support tech entrepreneurship and women entrepreneurs in particular, as well as to boost Tunisia’s nascent venture capital ecosystem,” said the statement.

Here Is The Deal

Almost half of the money would be provided by the Women Entrepreneurs Finance Initiative (We-Fi), a partnership among governments, multilateral development banks, and other public and private sector stakeholders, hosted by the World Bank Group.
We-Fi, as the statement notes, is supporting women entrepreneurs in developing countries by building their capacity, scaling up access to financial products and services, and providing links with global markets.
The implication of this that essentially Flat6Labs Tunis would be preferring female-founded startups for investment than it used to as it is now part of their mandate.
The investment by IFC in Flat6Labs Tunisia is part of its $30 million Startup Catalyst initiative that backs accelerators and seed funds in emerging markets to help them venture capital ecosystem and boost entrepreneurial activity. IFC has previously also invested in Flat6Labs Cairo and Ibtikar Capital.

According to Georges Joseph Ghorra, IFC’s Resident Representative in Tunisia:

“Early-stage funding is vital to building a robust startup ecosystem and to help entrepreneurs establish companies that can develop innovative solutions and create quality jobs. We aim to address the funding gaps in this space, especially for women entrepreneurs, to continue to spur innovation and economic growth in Tunisia and the region.”

Previous Flat6Labs’ Investment In Startups

Dabchy, a Flat6Labs Tunis-backed female-led startup that was part of accelerator’s first cohort, recently raised $300,000 in seed funding from 500 Startups (MENA) and two Saudi VCs, which to the best of our knowledge is the highest amount of funding raised by a Flat6Labs Tunis startup.
Flat6Labs Tunis which is a partnership between Flat6Labs, BIAT, TAEF (Tunisian American Enterprise Fund), Meninx Holding and Le15, per statement, is increasing its seed fund size to $10 million to support up to 100 technology companies and to help address the lack of early-stage capital in Tunisia.
According to Ramez El-Serafy, CEO at Flat6Labs:

“We believe that our partnership with IFC will enable us to continue providing entrepreneurs with a better support program and encourage more candidates, especially women, to apply and thrive through it.”

Read also: How International Organisations Are Helping Startups In Africa

The International Finance Corporation (World Bank Group)

The IFC is a member of the World Bank Group and a development finance institution. Being the largest global institution targeting private sector institutions in developing countries, like Africa, companies or entrepreneurs desiring to establish new ventures or expand existing enterprises can approach IFC directly by submitting an investment proposal to the field office closest to the location of the proposed project

Investment Targets so far.

More than $25 billion has been invested by the IFC in African businesses and financial institutions, and its current portfolio (in 2017) exceeds $5 billion.
The IFC invested $3 million in Madagascar’s SMTP Group towards the expansion of its company’s poultry business in the country in 2015.
The IFC provided a $7.5 million equity in Zoona, a financial services business that provides in-country and cross-border money transfers in Zambia, Malawi and Mozambique in 2015
In 2018, it made $11.6 billion in long-term investments in 366 projects, and additionally mobilized nearly $11.7 billion to support the private sector in developing countries.

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Tunisia earlier this year had also secured a $175 million loan from The World Bank, $75 million of which is supposed to be invested in startups in the country.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world