Flat6Labs, Mena’s main seed and early-stage enterprise capital agency, has launched the first-ever construction-focused accelerator program that goals to assist superior startups within the development know-how trade.
Dubbed the Makers ConTech Accelerator Program, it is going to present choose startups with as much as $100,000 in funding per startup in addition to grant entry to pilot tasks, trade consultants, mentorship, enterprise coaching, one-on-one consultations, teaching classes, networking alternatives, and important assets to domesticate and scale their companies.
Commenting on the brand new Makers Accelerator Program, Faysal Shair, Head of Digital Options at Dar, stated, “We’re thrilled to proceed our distinctive collaboration with SIAC and Flat6Labs to speed up the transformation of the development trade. We consider that this system will promote innovation within the development trade and foster abilities in development tech, empowering them to showcase their revolutionary options and work alongside trade leaders to convey these options to the market. We’re trying ahead to seeing what the chosen startups will convey to the desk.”
The Program which is based in partnership with SIAC and Dar Al-Handasah (Shair and Companions) will final 12 weeks, startups will likely be chosen primarily based on their distinctive new know-how, hardworking founders, and exceptionally promising merchandise, introduced at a minimal viable product (MVP) degree or larger.
The launch of the brand new program follows Makers’ first pre-accelerator program, which ran in early 2023 and which aimed to advertise development trade innovation by way of connecting and interesting with varied trade stakeholders with intensive experience, thereby creating sustainable innovation ecosystems for resolving construction-related challenges inside SIAC, Dar, and the trade at giant.
The pre-accelerator program graduated 9 of probably the most revolutionary ConTech startups in Egypt – together with Reblox, Tawredaat, AION Innovation, Masafa, HomeLab, A.D Improvements, Makinahub, and JEEZAR.
Through the pre-accelerator, these startups have been supplied strategic mentorship, entrepreneurship-focused enterprise coaching, one-on-one classes with material consultants, in addition to different advantages that might empower them to develop and current their revolutionary concepts and options.
With the launch of the brand new accelerator program, Flat6Labs intends to offer ongoing assist to development know-how startups.
This system will initially give attention to Egyptian entrepreneurs, earlier than increasing to the Kingdom of Saudi Arabia and subsequently to the broader MENA area.
“We’re proud to be part of the journey in the direction of digitising the development trade and unlocking extra alternatives and potential for ConTech startups in Egypt,” acknowledged Seif Ragab, Deputy CEO at SIAC. “The digital revolution of the development trade is changing into extra essential than ever and we’re excited to capitalise on this momentum and make main leaps. We’re assured that the enlargement of this program would primarily assist the expansion and growth of the area’s establishing trade.”
“We’re excited to announce the launch of an accelerator program in collaboration with SIAC and Dar Al-Handasah, with the hope that it’s going to function a conduit for the event of cutting-edge innovation whereas driving progress and alternatives for promising startups,” stated Yehia Houry, Chief Applications Officer at Flat6Labs. “We’re happy with the success of the pre-accelerator program, and we consider that Makers could have a big affect on the development trade in Egypt, and ultimately throughout the Center East.”
In comparison with different sectors like fintech, the development trade sometimes strikes at a slower tempo with regards to embracing innovation or digitalisation.
The Makers program strives to equip development entrepreneurs with the mandatory assist with a purpose to present revolutionary options and contemporary applied sciences that optimise and automate development trade processes, making them extra environment friendly and sustainable whereas propelling the sector ahead.