Investing Up to $100K in Construction Tech Startups in Egypt
Flat6Labs, the region’s leading seed and early-stage venture capital firm, has launched the “Makers” ConTech Accelerator Program in partnership with SIAC and Dar Al-Handasah (Shair and Partners). The program is the first-ever construction-focused accelerator program in the Middle East that aims to support advanced startups in the construction technology industry.
The “Makers” ConTech Accelerator Program will provide select startups with up to $100,000 in funding per startup as well as grant access to pilot projects, industry experts, mentorship, business training, one-on-one consultations, coaching sessions, networking opportunities, and essential resources to cultivate and scale their businesses. The program will last 12 weeks, startups will be chosen based on their unique new technology, hardworking founders, and exceptionally promising products, presented at a minimum viable product (MVP) level or higher.
The launch of the new program follows Makers’ first pre-accelerator program, which ran in early 2023 and which aimed to promote construction industry innovation through connecting and engaging with various industry stakeholders with extensive expertise, thereby creating sustainable innovation ecosystems for resolving construction-related challenges within SIAC, Dar, and the industry at large. The pre-accelerator program graduated nine of the most innovative ConTech startups in Egypt – including Reblox, Tawredaat, AION Innovation, Masafa, HomeLab, A.D Innovations, Makinahub, and JEEZAR. During the pre-accelerator, these startups were offered strategic mentorship, entrepreneurship-focused business training, one-on-one sessions with subject matter experts, as well as other benefits that would empower them to develop and present their innovative ideas and solutions.
With the launch of the new accelerator program, Flat6Labs intends to provide ongoing support to construction technology startups. The program will initially focus on Egyptian entrepreneurs, before expanding to the Kingdom of Saudi Arabia and subsequently to the wider MENA region.
Commenting on the new Makers Accelerator Program, Faysal Shair, Head of Digital Solutions at Dar, said, “We are thrilled to continue our exceptional collaboration with SIAC and Flat6Labs to accelerate the transformation of the construction industry. We believe that the program will promote innovation in the construction industry and foster talents in construction tech, empowering them to showcase their innovative solutions and work alongside industry leaders to bring those solutions to the market. We are looking forward to seeing what the selected startups will bring to the table.”
“We are proud to be a part of the journey towards digitizing the construction industry and unlocking more opportunities and potential for ConTech startups in Egypt,” stated Seif Ragab, Deputy CEO at SIAC. “The digital revolution of the construction industry is becoming more crucial than ever and we are excited to capitalize on this momentum and make major leaps. We are confident that the expansion of this program would essentially help the growth and development of the region’s constructing industry.”
“We are excited to announce the launch of an accelerator program in collaboration with SIAC and Dar Al-Handasah, with the hope that it will serve as a conduit for the development of cutting-edge innovation while driving growth and opportunities for promising startups,” said Yehia Houry, Chief Programs Officer at Flat6Labs. “We are proud of the success of the pre-accelerator program, and we believe that Makers will have a significant impact on the construction industry in Egypt, and eventually across the Middle East.”
Compared to other sectors like fintech, the construction industry typically moves at a slower pace when it comes to embracing innovation or digitalization. The Makers program strives to equip construction entrepreneurs with the necessary support in order to provide innovative solutions and fresh technologies that optimize and automate construction industry processes, making them more efficient and sustainable while propelling the sector forward.
Flat6Labs is the MENA region’s leading seed and early-stage venture capital firm, currently running the most renowned startup programs in the region. Flat6Labs invests in innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders.
Flat6Labs manages a number of seed funds with a total AUM in excess of $85M. More than 25 leading institutions have invested into the Flat6Labs managed funds; believing in the asset class and Flat6Labs’ proven track record as the market leader. Flat6Labs provides a wide range of investment ticket sizes ranging from $50K to $500k, supporting startups through their early journeys from Pre-Seed all the way to Pre-Series A stages. Alongside the investments, Flat6Labs’ exceptional startup programs, executed to cater specifically for the needs of the innovative entrepreneurs, helps them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors and corporates.
Launched and headquartered in Cairo since 2011, Flat6Labs has multiple offices across the region; with ongoing plans to expand into other emerging markets.
For more information, visit www.flat6labs.com
SIAC Construction is one of the leading regional construction private sector companies in Egypt and the Middle East. Since its establishment in 1986; SIAC gained a vast record of experience in the construction of mega projects; including top-quality finishing buildings, heavy industrial construction, power plants, infrastructure, and petrochemical projects.
SIAC’s aim is to create a difference in quality construction, by implementing the most modern management and construction systems, in order to ensure and improve its position as a leader in the construction field.
SIAC also is a member of SIAC Holding which was established to manage the diversified activities of the Group. These activities include construction, development, and building materials.
Dar is one of the world’s leading consultancies, providing design, planning, engineering, and project management services for a wide variety of market sectors, including buildings and cities, transportation and civil infrastructure, and water and the environment, and project management. We are a global community of over 7,850 talented and innovative engineers, planners, economists, architects, designers, project management specialists, construction management professionals, and multidisciplinary experts. We take on some of the world’s most exciting and ambitious projects in order to nurture sustainable development, empower and connect communities, create more and better opportunities, and enhance lives. Our company’s portfolio includes over 4,500 projects, collectively worth $540 billion, delivered for over 950 clients. The firm’s commitment to excellence, client satisfaction, and sustainable development has earned it a reputation as a trusted and reliable partner in shaping a better future for communities around the world.
Dar is also the founder of Dar Group – a global network of industry-leading brands with over 18,600 employees in more than 300 offices around the world. According to the industry-standard Engineering News Record, Dar Group has ranked among the top 10 international design firms for over 15 years, and it currently ranks 1st in the Middle East and 3rd in Africa (ENR 2022).