Changelabs Provides Funds for 13 Promising Egyptian Start-UpsSource: www.export-egypt.com 9/21/2020, Location: Africa |
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Startup accelerator Changelabs is set to hold its second cohort demo day on 30 September, providing an opportunity for innovative start-ups to secure funds for their businesses.
Changelabs said in a statement that startups that are poised to create significant economic value and deliver jobs have joined the Changelabs accelerator program in partnership with several leading sponsors, including Green for Growth Fund, Amazon Web Services, and the Dutch entrepreneurial development bank FMO. Thirteen start-ups have joined the program, including Delta Oil (an Egyptian green energy startup focused on oil recycling), Dizaria (the first electric vehicle charging service provider in Egypt), Hand Over (a company specialised in delivering environment-friendly building solutions, Seavo (Egypt’s first designer and manufacturer of environmentally friendly watercrafts), Vesstoss (offers an energy-efficient, public transport solution for ‘closed communities’ in Egypt - electric scooter rentals), Baramoda (agri-tech start-up that is focused on developing organic fertilisers from the waste products of sugar factories), and Dayra (sells pre-owned high-quality clothing online at affordable prices). They also include DomDom (a user-led digital graphic design platform offering a graphic editor with 1000s of design assets and exclusive Arabic stock photos), El-Dokan (Enterprise e-commerce software designed for large and growing retail stores in MENA region), Hospitalia (In-home healthcare services marketplace), Mawelny (Online platform that connects individuals and SMEs in need for credit finance with banks and other lenders), PraxiLabs (Virtual lab environment for schools and Universities seeking to deliver online education), and Square Corner (platform focusing on culture enhancement by providing fun and engaging gamified virtual team building activities. “With the government of Egypt’s vision to achieve a sustainable footprint, we believe entrepreneurship, shifting to new business directions dictated by the challenges we know and face every day, and the potential of Egypt’s youth are the ultimate levers that will help put Egypt in a leading position. Sustainable impact is emerging as one of the key verticals in the country’s entrepreneurship ecosystem,” co-founder of Changelabs Karim Samra said. The Changelabs accelerator program provides training, mentorship, and support to the selected innovative startups, helping them face the challenges of the market in a practical way, turning their ideas into investment-ready businesses. In 2019, Changelabs provided EGP 4 million in funding in its first round in Egypt. |
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