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ACCELERATING THE FUTURE

Flat6Labs Launches ‘StartMashreq’ Initiative to Support Entrepreneurs across the Levant Region

StartMashreq seeks to support innovative entrepreneurs in Jordan, Lebanon, and Iraq, with a focus on empowering women, refugees, minorities, and displaced persons.

– The program will work to build a diverse digital community of entrepreneurial pioneers, while promoting socioeconomic development, prosperity, and sustainability through innovation and inclusion.

StartMashreq will provide comprehensive business incubation and support to entrepreneurs, including enhancing access to investment opportunities and helping build local and regional partnerships.

Amman, Jordan – March 06, 2023 — Flat6Labs, the MENA region’s leading seed investor, has officially announced the launch of its StartMashreq entrepreneurship program. The regional program is being implemented over a two-year period in partnership with the International Finance Corporation (IFC), a member of the World Bank Group, and the government of the Netherlands. As the first program of its kind, StartMashreq will offer comprehensive support to entrepreneurs across a broad segment of society throughout the Levant region. Targeting underserved demographics in Jordan, Lebanon, and Iraq—including women, refugees, minorities, and internally displaced persons—StartMashreq is open to entrepreneurs between the ages of 18 and 45 who are seeking to develop their innovative ideas and projects.

The program seeks to provide wide-reaching opportunities, capabilities, and support to beneficiaries. StartMashreq will focus heavily on entrepreneurs working in education, fintech, financial inclusion, healthcare technology, agriculture, environment, and information and communication technology. By prioritizing the success, growth, and sustainability of projects in these fields, the program aims to diversify economic opportunities in the targeted countries and contribute to their overall socioeconomic development.

The program will work along three main tracks—StartMashreq Academy, the Growth Support Program, and the Incubation Program—ultimately forming a strong, well-rounded base of support for creative entrepreneurs.
Through StartMashreq Academy, individuals who aspire to sharpen their personal and professional skills will be able to benefit from a wide range of resources, on www.startmashreq.com. The platform includes tools like data and infographics; digital and interactive sessions, seminars, and talks led by experienced business leaders; pre-recorded training courses across a variety of specialized topics; and blog posts and articles written by experts from across the region.

During the StartMashreq Incubation program, which will be carried out across four cycles, participants will receive the training and resources they need to develop a comprehensive business plan and growth strategy. Trainers and mentors will be available to guide participants through interactive, one-on-one sessions, while group sessions will allow these entrepreneurs to share their experiences and exchange expertise.

For more mature startups, StartMashreq’s Growth Support Program will help participants pursue advanced opportunities for growth. The program will provide a total of 20 startups throughout the region with access to a series of workshops and meetings tailored to address their unique challenges and needs. These participants will gain access to international networking channels and events, where they will be able to meet potential partners, customers, and investors. Most importantly, participants will receive local and international legal support at no cost.

“Entrepreneurs can be game changers when it comes to job creation and economic growth in the Levant region. However, underserved groups, like women, young people, and the forcibly displaced, struggle to access the support they need to start a business. I am proud that IFC is partnering with Flat6Labs to launch the StartMashreq program to help startups get critical training, mentorship, and funding,” said Khawaja Aftab Ahmed, IFC Regional Director for the Middle East, Pakistan, and Afghanistan.

Commenting on the launch of the program, Yehia Houry, Flat6Labs Chief Programs Officer, said, “The Arab world, and the Levant region in particular, has always been full of promising young people with big ambitions. Unfortunately, many of the youth in our region lack access to the tools, resources, and opportunities they need to succeed. At Flat6Labs, we believe in the importance of providing a complete system of support for all segments of society and all stages of the entrepreneurial process, which is why we are proud to launch the StartMashreq program, which complements our existing investment programs in Jordan and Lebanon. Through this initiative, we hope to inspire an entrepreneurial movement and provide the tools and resources necessary to nurture that movement.”

The StartMashreq platform will be open to all interested candidates across Jordan, Lebanon, and Iraq to access free educational content and tools, helping them enrich their expertise. To apply for the Incubation and Growth Support programs, interested individuals and entrepreneurs should create an account on the StartMashreq website and complete the registration form. The support from the IFC and the government of the Netherlands for StartMashreq falls under the PROSPECTS Partnership. PROSPECTS is a global partnership that aims to improve the access of host communities and forcibly displaced people to education, social protection, and decent work. The partnership is spearheaded by the Government of the Netherlands, and it brings together IFC, the International Labour Organization (ILO), the UN Refugee Agency (UNHCR), the UN Children’s Fund (UNICEF), and the World Bank.

Flat6Labs Hosts 12 Startups During Demo Day at the Grand Egyptian Museum

Flat6Labs, the MENA region’s leading seed and early-stage venture capital firm, hosted its 18th and 19th cycle startups on February 15th, 2023, at the Flat6Labs 2023 Demo Day in Cairo at the Grand Egyptian Museum. This Demo Day event introduced 12 growth-driven tech startups from the Flat6Labs Seed Program in Cairo, operating in an array of industries, namely Fintech, SaaS, E-commerce, Transportation, Food and Beverage, AgriTech, AI & Machine Learning, Recruitment, and EdTech. The portfolio companies showcased their innovative products and solutions to an audience of more than 500 attendees, including investors from Egypt and the region, representatives from our partners, and enablers in the startup ecosystem.

This Demo Day event marked the culmination of the 5 year investment period of the Flat6Labs Accelerator Company (FAC) Fund in Egypt, where Flat6Labs has successfully invested EGP 152M in seed and follow-on funding in 91 startups, 47% of which raised EGP 1.1Bn in follow-on funding.

Flat6Labs’ CIO, Dina el-Shenoufy said, “I’m proud to say that Flat6Labs has played a pivotal role in stimulating the Egyptian economy through the investments we’ve made over the past 5 years, supporting 200+ entrepreneurs in 16 different industries, creating over 81,500 indirect jobs and over 1,700 direct jobs, 31% of which are held by women. We look forward to continuing to support our 91 innovative portfolio startups, being part of their growth journey, and making an even bigger impact across Africa and the region.”

Over the course of the last year of the Cairo Seed Program, the Flat6Labs team has been working closely with the 12 startups, helping them develop their core business solutions and expand their operations by offering them business and technical training and mentorship sessions led by some of the best business leaders and industry experts in Egypt and the region.

The Flat6Labs 2023 Demo Day in Cairo was sponsored by our partner, SANAD Entrepreneurship Academy.

The 12 startups that showcased in the Flat6Labs 2023 Demo Day in Cairo are:

FilTareeq:

Facilitating the order delivery process for small and medium sellers.

HUMM:

Humm is a food-focused multimedia company at the intersection of tech, e-commerce, and the creator economy.

WellPal:

We are the only Online Healthy Food Marketplace.

Seater:

A tech-based transportation services solution for uniformly transporting commuters, students, and supply fleets for companies.

Copal:

The Friends and Family money application.

TechieMatter:

MENA’s leading tech recruitment web solution trusted by 100s of companies in 10+ countries worldwide.

BabRizk:

BabRizk is the first blue collar recruitment application with loyalty programs and fintech services.

BaytMisr:

Facilitating and Automating Mortgage Financing Online.

Fuelin:

Fuelin is a smart platform to help Companies better manage and monitor their fleet fuel consumption.

Agel:

Sharia-compliant trade finance platform, availing working capital merchandise credit limits to empower small business growth.

Katteb:

Katteb is an AI Writer that consistently learns. It can write about any recent or future events using state of the art AI technology.

Melior:

Melior is a straight-forward, effective, and robust patient engagement software.

Flat6Labs signs MoU with PwC to support regional startups

Flat6Labs, the MENA region’s leading seed and early-stage venture capital firm, and PwC have signed a Memorandum of Understanding (MoU) to provide support to start-ups with high growth potential in the region.

“Flat6Labs has a proven track record in carefully vetting out and investing in promising start-ups, and thereby enabling thousands of passionate founders to achieve their daring ambitions, while supporting the region’s flourishing entrepreneurship ecosystem,” said Yehia Houry, Chief Program Officer at Flat6Labs. “Our partnership with PwC plays to the strengths of both our organisations, with the end result being significant value to our portfolio start-ups, as well as to enterprises across the region that will stand to benefit from the disruptive innovations they bring to market.”

Under the terms of the agreement, Flat6Labs will work to identify and position start-ups from its portfolio as potential solution providers under PwC. Initially, the focus of this endeavour will be on startups that operate across the rapidly evolving financial services and telco sectors. The companies will also set up a joint working group that will engage with prospective enterprises and priority clients to develop corporate innovation programs and innovation challenges.

World-class mentorship is a defining element of Flat6Labs’ incubator programs across the region, and the MoU seeks to strengthen the company’s value propositions in this area as well. PwC’s sector and industry experts will participate as coaches, mentors, and trainers in various Flat6Labs programs, thereby giving start-ups unrivalled access to some of the industry’s foremost advisors and thought leaders. PwC Middle East will also extend its unparalleled expertise to Flat6Labs start-ups in preparing for and navigating the later stage funding rounds, from Series A, all the way up to IPO preparedness, having worked with over 20 global unicorns.

Mark Stanley, Financial Services Partner at PwC Middle East said, “Our strategic partnership with Flat6Labs is part of PwC’s Ventures strategy and indicative of our commitment to growing capabilities beyond our own, empowering start-ups and building a world-class regional ecosystem. We believe there is untapped talent and disruptive capabilities in start-ups that lack access to the established industry incumbents that PwC proudly serves. The established VCs operating in this region are a really effective route to source, qualify and partner with these emerging startups. Together with Flat6Labs, we will mobilise our strategy through execution capabilities, to help our clients design, build and scale new ventures, powered by the market’s leading startups.”

To date, Flat6Labs has invested in 355 start-ups through its various programs across the MENA region. Collectively, these firms have gone on to raise over US$180million in funding and many of these organisations are today enterprise-scale businesses that continue to pioneer advancements in their respective sectors.

Flat6Labs announces the first close of the “Startup Seed Fund” with the participation of the Saudi Venture Capital Company (SVC) and “Jada”

Flat6Labs announces the first close of the “Startup Seed Fund” in Saudi Arabia, with the participation of the Saudi Venture Capital Company (SVC), subsidiary of the Small and Medium Enterprises (SME) Bank, one of the development banks affiliated with the National Development Fund, and the “Jada” Fund of Funds, wholly owned by the Public Investment Fund (PIF). The fund enables startups to receive follow-on funding up to SAR 2.4 million, and the support and training programs provided by the program for select companies.

The Startup Seed Fund is a SAR 75 million fund dedicated to invest in early stage startups operating in the technology and innovation sectors within the Kingdom of Saudi Arabia. The fund will adopt a highly diversified, systematic investment plan that aims to reduce the risks faced by venture capital and reduce the administrative and legal costs incurred by early-stage startups.

The fund aims to develop the capabilities of more than 180 entrepreneurs, create more than 6,000 jobs in the private sector in the Kingdom of Saudi Arabia, and enable Saudi companies to expand in the region through Flat6Labs regional offices. This will contribute to completing the structural transformation that the Kingdom aspires to by increasing the share of the digital economy in GDP and enhancing the contribution of the non-oil private sector.

The first cycle of the Flat6Labs seed program has successfully started in Riyadh, investing in 10 innovative Saudi startups, with an investment value exceeding SAR 500,000 per startup. Selected startups also received a 4-month entrepreneurship training program that focused on several commercial, administrative, financial, and legal axes.

The first cycle of the Flat6Labs seed program in Riyadh saw startups operating in various industries, such as software as a system (SaaS), fintech, e-commerce, and EdTech.

Flat6Labs continues to support Saudi entrepreneurs, and we are accepting applications for the second cycle of the Flat6Labs seed program in Riyadh. The program supports a new batch of startups located in the Kingdom of Saudi Arabia that seek opportunities for expansion and investment we offer to startups in the Middle East and North Africa region.

Flat6Labs and Wio Bank sign MoU to streamline and enhance SME-centric banking services for start-ups in Abu Dhabi

Abu Dhabi, United Arab Emirates – In a bid to further strengthen Abu Dhabi’s entrepreneurship ecosystem, Flat6Labs, the MENA region’s leading seed-stage program and early-stage venture capital firm, and Wio Bank, the region’s first platform bank, have signed a Memorandum of Understanding (MoU).

Under the agreement, start-ups from Flat6Labs Ignite, a specialised seed program run by Flat6Labs in a partnership with DisruptAD, will have the opportunity to take advantage of Wio’s innovative banking products and services under Wio Business, the bank’s first digital banking application, which is designed to provide a seamless and innovative experience tailored to the specific needs of start-ups and SMEs.

“There is potentially no other factor that more heavily decides the fate of a start-up than its ability to effectively manage its finances. These organisations need banking partners that have a start-up ethos — centred around agility, flexibility, and innovation,” said Ryaan Sharif, General Manager at Flat6Labs UAE. “Our long-standing expertise in empowering start-ups to establish themselves in the UAE and raise the funding they need to fuel their ambitions aligns perfectly with Wio Bank’s vision of not only providing world-class banking services, but serving as a holistic banking management platform for the modern SME.”

Under its flagship seed program, Ignite, Flat6Labs is set to support up to 60 start-ups in Abu Dhabi by 2024, with 27 disruptive organisations already having successfully invested in the 3 cycles that have already concluded. By partnering with Wio Bank, Flat6Labs has ensured that start-ups selected for this program will now enjoy Wio Business’ prioritised processing of account opening applications, as well as around-the-clock access to dedicated support services. “This is especially beneficial to the start-ups we attract from international markets as it enables them to seamless transition into establishing their headquarters in Abu Dhabi without any disruption to financial operations,” said Sharif.

Wio Bank has invested in establishing a team of high-qualified technology experts with a broad range of skills related to digital transformation and financial innovation. Under the agreement, Wio Bank will make these professionals available as subject-matter experts and mentors to Ignite program start-ups, thereby further strengthening the value-proposition of the program.

Prateek Vahie, Chief Commercial Officer of Wio Bank said, “Being a disruptor in the financial sector, we believe we have a critical role to play in supporting the start-up ecosystem and fostering entrepreneurship in the UAE. We are committed to ensuring that our SME customers find the most viable options for the support they need, be it through funding via traditional credits or loans, peer to peer lending, angel investments, or incubators. As we develop our offerings tailored to the SME sector, we will benefit from the insights and expertise of other major players in the ecosystem, such as Flat6Labs.”

Wio Business provides start-ups, freelancers, and SMEs access to banking services seamlessly while giving them the opportunity to move forward with innovative beyond-banking services. The app, which streamlines all business banking services in one place, will also integrate payment information and services, enabling businesses to manage everything in one place, on-the-go.

 

About Wio Bank PJSC:

Wio Bank PJSC is an integrated digital banking platform jointly owned by Abu Dhabi Development Company (ADQ), Alpha Dhabi Holding, Etisalat, and First Abu Dhabi Bank (FAB) with an initial capital outlay of AED 2.3 billion. The bank is regulated by the Central Bank of the UAE.

About Flat6Labs

Flat6Labs is the MENA region’s leading seed and early-stage venture capital firm, currently running the most renowned start-up programs in the region. Annually, Flat6Labs invests in more than 100 innovative and technology-driven start-ups 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 fund. Alongside investments, Flat6Labs’ start-up programs, executed to cater specifically to the needs of innovative entrepreneurs, help 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.

ELSEWEDY ELECTRIC and The Knowledge Hub Universities in Partnership with Flat6Labs Launch Climathon – Clean and Deep Tech Hackathon Program

Cairo, Egypt – 12 December 2022
ELSEWEDY ELECTRIC – the leading energy & infrastructure solution provider, The Knowledge Hub Universities (TKH), and Elsewedy Education’s initiative – the Innovation Hub – launch a “Clean and Deep Tech Hackathon Program” (Climathon) in collaboration with Flat6Labs – the region’s leading seed and early-stage venture capital firm. The program aims to provide Coventry University branch students hosted at The Knowledge Hub Universities, and ELSEWEDY ELECTRIC’s Graduate Development Program (GDP) with the unique opportunity to present and pitch their innovative tech solutions addressing one of today’s greatest challenges – climate change.

The Climathon will take place over 3 days, hosting up to 30 teams competing across a series of tailored sessions and interactive workshops. The Climathon core themes focuses specifically on Smart Cities, Agritech, Industry 4.0, Energy & Water Management. The Knowledge Hub Universities will host the Climathon at its premises providing technical support and facilities for the program including labs, equipment, classrooms, and catering areas. Aiming to foster and drive innovative mindsets, as well as to bridge the gap between the business and educational sector, the teams will have access to the required tools, resources and mentorship supporting their proposed solutions in the Clean and Deep Tech domain.
Believing that fostering technology will enable its employees to be a global and competitive work force, ELSEWEDY ELECTRIC aims to increase its intellectual capital value through identifying viable and innovative solutions for today’s challenges while providing technical support, coaching, guidance, employment opportunities in addition to monetary prizes for the winning teams. Banking on its successful track record, Flat6Labs will provide an effective program and setup, as well as insightful training and mentorship, alongside the onsite management to help the tech-driven entrepreneurs grow.
Mr. Emad Ghaly, Chief Innovation Officer, Elsewedy Electric commented, “We are aiming to foster the revolution in technology and environmental sustainability through the Climathon, bringing together ELSEWEDY ELECTRIC and The Knowledge Hub. By convening spaces where youth can champion the fight for climate justice, and use of technology to develop new ventures and solutions for local and global challenges we empower them to drive sustainable change and stimulate their brilliant minds to express their innovative ideas. We are certain that they can contribute to the development of ground-breaking technological solutions for our modern world climate challenges.”
“We are all responsible for fighting the environmental challenges our world is facing today and we -at El Sewedy Education and The Knowledge Hub Universities- are keen on providing youth with the skills and resources to be able to tackle such challenges through The Climathon. Partnering up with Flat6Labs and Elsewedy Electric will bring young brilliant minds together to elevate their ideas and solutions towards a sustainable future of our planet” said Ihab Salama, Chief Executive Officer at El Sewedy Education and Vice Chairman – The Knowledge Hub Universities Board of Trustees.

‘’Climate change is currently a major challenge on the world’s agenda. Egypt is following the steps of other global economies in efforts to mitigate the impact, hosting COP27 this year and launching multiple projects. There’s a dire need for all experts from the public and private sectors as well as youth to join forces to meet ESG goals. Our program provides bright minds and future potential leaders with essential guidance, expertise, and knowledge to support a sustainable and green economy, in alignment with Egypt’s National Strategy for Climate Change 2050.” stated Hassan Mansi, Flat6Labs Head of Ecosystem Development Programs.

About ELSEWEDY ELECTRIC
Elsewedy Electric (EGX: SWDY.CA) is a leader in integrated infrastructure solutions, focused on delivering turnkey projects on fast-track basis. For over 80 years, Elsewedy Electric has been committed to sustainable solutions that create opportunities, support communities & strengthen economies. Across Africa, Middle East & Asia, the company operates in 5 business lines: wire, cable, & accessories, electrical products, engineering & construction, digital solutions, and infrastructure investments. Elsewedy Electric employs 17,000 people, operating in 48 international offices and 31 production facilities, exporting to over 110 countries worldwide.
Headquartered in Egypt, Elsewedy Electric announced revenue of EGP 60.5 billion with net profit of EGP 3.5 billion in December 2021.
News about Elsewedy Electric is available on www.elsewedyelectric.com

About TKH

TKH is a multidisciplinary educational hub hosting branches of world-class universities, each to participate with programmes in their areas of strength, providing an intellectually stimulating, enriching, and credible educational experience.
The Knowledge Hub provides a healthy learning environment for students to maximize their potential, develop critical thinking skills, and become future leaders in their respective communities. Creating a connected community of students and faculty from diverse backgrounds, where experiences and ideas are openly exchanged.

About Flat6Labs
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.

Flat6Labs in partnership with SIAC and Dar-Al-Handasah launch “Makers”, ConTech Innovation Program to foster construction startups across Egypt

Cairo, Egypt – 23 November 2022 Flat6Labs, the region’s leading seed and early-stage venture capital firm, has launched ‘Makers’ a construction-tech Innovation Program in collaboration with SIAC, a leading regional private construction firm, and Dar-Al-Handasah (Dar), an international consulting company in engineering, to foster startups in the construction technology solutions across Egypt. Makers ConTech program includes a pre-accelerator for early stage startups and an accelerator program with an investment component for more advanced startups. The pre-accelerator program aims to promote construction industry innovation through connecting and engaging with various stakeholders with extensive expertise, as well as to creating sustainable innovation ecosystems for construction-related challenges within SIAC, Dar and the industry at large.

The Makers ConTech Innovation Program in its pre-accelerator stage, will provide selected startups with strategic mentorship, entrepreneurship-focused business training, subject matter one-on-one sessions, and a wide range of perks and services from partners. The pre-accelerator program is designed to support entrepreneurs by guiding them in developing and presenting their innovative ideas and solutions to SIAC and Dar, with the possibility of being selected to run a pilot program with both companies. After completing the program, startups will be well-positioned to raise funding.

The pre-accelerator program also aims to shed light on the significance of the construction revolution and the adoption of new digital technologies in the construction sector in order to boost its competitiveness and productivity. Bringing the construction industry one step closer to a more sustainable, productive, and technologically advanced environment.
“A shift toward digitizing construction solutions is becoming increasingly important in order to achieve safer and more productive results. Using robotics and data analytics to digitize construction processes for construction sites and industrial plants, data assembly, transactions, and city design, companies will be able to save labor costs, address labor shortages, and improve safety. We are excited to launch the Makers ConTech Innovation Program in collaboration with SIAC and Dar-Al-Handasah with the goal of supporting, investing, and nurturing innovative, sustainable, and promising startups to drive the construction industry revolution,” said Albert Malaty, Managing Director of Flat6Labs, Cairo.

Faysal Shair, Head of Digital Practice at Dar said, “We are incredibly excited to be partnering with Flat6Labs and SIAC to launch the Makers ConTech Innovation Program focused on empowering entrepreneurs to create technology-driven solutions and opportunities for the design and construction sector. We’re looking to develop and support innovators who have the vision, ideas, expertise, and determination to reimagine this exceptionally complex sector and find ways to make it more sustainable, resilient, future-fit, and safer for workers and communities.”
“If we look locally, we can see the sheer scale of construction projects undertaken on a public and private scale. Yet, with this in consideration, the construction sector is still one of the lowest tech-penetrated industries globally and regionally: a sector that hasn’t seen significant productivity growth in the past decade compared to manufacturing or retail. To tackle this issue locally and regionally, we partnered with Dar, Flat6Labs, and other international stakeholders with experience investing in construction technologies and venture building to create the Makers ConTech Innovation Program. In addition, we will enable aspiring entrepreneurs to conceive soft and hard tech innovations that focus on specific industry obstacles by providing them with the necessary resources and industry knowledge. Our overarching objective is to raise awareness of the many opportunities within the sector and increase investor activity in construction technologies.” stated Seif Ragab, Board member at SIAC.
Technologies are a critical asset in meeting the challenge of transforming the construction industry. The new Makers ConTech business models will assist engineers and the construction sector in particular in building, designing, and growing in a cost-effective, sustainable, and safe manner. According to the crunchbase data, almost USD 17B raised by Contech companies with venture capital firms backing. In addition, 24 venture backed construction companies were acquired and 125 venture-backed real estate companies were acquired in 2021.
Flat6Labs will continue to empower innovative startups to achieve their goals by providing funding, technical assistance, and networking opportunities across the country and beyond.

For more information about the application, visit this website: Here

Flat6Labs Hosts its Third Demo Day in the UAE in Conjunction with GITEX

As a part of the Flat6Labs Ignite seed program, Demo Day is an opportunity for investors to engage with some of the most innovative start-ups in the UAE

Dubai, United Arab Emirates – 05 October 2022 – Flat6Labs, the MENA region’s leading seed-stage program and early-stage venture capital firm, today announced it will be making its GITEX Global debut at the 2022 edition of the show. The company will leverage the event as an opportunity to showcase 22 of the most innovative companies under its seed programs in the UAE and broader MENA region.

In addition, the company will also host its Demo Day on October 12th where start-ups that are part of Cohort 3 of Flat6Labs Ignite will have the opportunity to present and pitch to leading regional venture capitalists, angel investors, corporates and entrepreneurship ecosystem leaders with the aim of securing additional investment.

“While for over four decades, GITEX has been the region’s premier enterprise IT trade show, we are excited to see it also become a platform for the region’s vibrant start-up ecosystem. Over the last year and half, Flat6Labs Ignite, which we run in partnership with ADQ’s DisruptAD, has quickly become one of the most sought-after seed programs in the UAE, even drawing the formal support of the Ministry of Economy in Abu Dhabi,” said Ryaan Sharif, General Manager at Flat6Labs UAE.

“Building on this momentum, at our GITEX debut, we will showcase the value of our program, and provide our start-ups with the opportunity to reach key stakeholders from across the region. We also intend to engage with innovative start-ups attending the show that would be interested in applying to be part of Cycle 4 of our program and more importantly looking to scale into the MENA Region using Abu Dhabi as the headquarters” added Sharif.

Over the five days of the event, Flat6Labs will host 22 of its start-ups in rotation, offering visitors an opportunity to engage with each of these at one of the stand’s dedicated demo kiosks. These organisations span multiple sectors including EdTech, HealthTech, Cybersecurity, Real Estate, Construction, Sustainability, Automotive, and Sports Engagement – with each offering a pioneering product or service designed to disrupt their industry.

Arguably the highlight of Flat6Labs’ week at GITEX is the demo day for Cycle 3 start-ups which will be held on the iconic Queen Elizabeth 2 cruise liner in Dubai the evening of Wednesday, 12th October. At this event, high net worth individuals, venture capitalists, and angel investors will have the opportunity to get a deep dive into the business and value proposition of each of the start-ups within Flat6Labs’ latest cohort. These include:

Dardoc who provide healthcare on demand through a network of nurses, caregivers, physios, and other professionals.

Digital First AI, a company that assists organisations with their growth by delivering personalised marketing and execution strategies within minutes.

  • Fitlov, a fitness focused firm that digitises the personal training experience by easily connecting trainers with their consumers.
  • Fundomundo an online platform that deliver virtual, interactive live classes for children.
  • Hulexo which empowers retail stores to sell more by eliminating inventory issues.
  • Lune Technologies who unlock valuable spending insights for institutions and end users.
  • MAKAN, a pioneering furniture rental concept that is disrupting the furnishing industry.
  • Channelpro who equip vendors and distributors with the digital tools to motivate, educate, and communicate with their sales force.
  • Savii, a FinTech company that empowers youth to spend, save and invest by providing them with a full banking experience.
  • Scalable CFO who enable all small businesses to get the benefits of a CFO without the inhibiting costs.

“Each of these start-ups has been meticulously vetted from over 700 applicants and has subsequently received world-class mentorship to refine their strategies and operations. They are now primed for the transformation from promising start-up to industry pioneer. Attendees to Demo Day therefore have an unparalleled opportunity to invest at a critical stage with the potential to deliver impressive returns on their investment,” said Ryaan Sharif.

The Flat6Labs Ignite Program launched in March 2021 with a partnership with ADQ’s DistruptAD. Flat6Labs has made over 30 investments in start-ups from multiple sectors. Collectively, these start-ups — which include the likes of Washmen, RemotePass and Dharma — have since gone on to raise significant follow-on funding, with many reaching enterprise scale with operations spanning multiple geographies.

Flat6Labs Appoints Yehia Houry as Chief Programs Officer

Cairo, Egypt – 26 September 2022

Flat6Labs, the MENA region’s leading seed and early-stage venture company, announced today the appointment of Yehia Houry as Chief Programs Officer. His appointment and move to Egypt follow a successful five-year journey as the Managing Director of Flat6Labs in Tunisia.

Mr. Houry spearheaded the launch of Flat6Labs and its operation in Tunisia during the past few years. In his new capacity, he will work as part of the executive team on planning and implementing new programs and products for Flat6Labs globally.

“It is with great pleasure that we welcome Yehia to his new position, with confidence that he will continue to play a vital role leading Flat6Labs’ next chapter of growth and success in his capacity as CPO.” said Ramez El-Serafy, CEO of Flat6Labs.

“Flat6Labs’ success has always been rooted in putting entrepreneurs at the center of our efforts. I look forward to working alongside the executive team as well as colleagues at headquarters and across country offices to expand our operations and grow our impact globally.” said Yehia Houry, CPO of Flat6Labs.

Yehia joined Flat6Labs in 2017 with more than 15 years of experience in venture capital investment and tech-driven startup entrepreneur support. Prior to Flat6Labs, he was leading tech-driven initiatives for youth employability and entrepreneurship at a regional organization working across the Arab world. Throughout his career, he notably held various roles in research, multilateral organizations in Africa,Asia and the Middle East before joining the World Bank’s Microfinance division. As an Acumen Fund Fellow, he was an advisor for a large-scale health-tech company in India. Yehia holds a BSc in Computer Science from McGill University in Canada and a Masters in International Affairs from Columbia University in New York.

Organon and Flat6Labs Announce Winners of MENA Region’s First Digital-Health FemTech Accelerator

Omgyno’ founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, ‘Siira’ founded by Sandra Salame in Lebanon, and ‘Maternally’ founded by Yasmin El Mouallem in the UAE, were announced the winners of the region’s first digital-health FemTech accelerator, marking the culmination of the program that was launched by Organon and Flat6Labs at Expo 2020 to advance women’s health
The winners were announced at the ‘Demo Day’ event in Cairo Egypt, which saw the participants pitch their ideas to a panel of eminent judges from across the women’s health world

Cairo, Egypt, 13 September 2022 – Omgyno founded by Doreen Toutikian and Elisabeth Milini in Greece and Lebanon, Siira founded by Sandra Salame in Lebanon, and Maternally founded by Yasmin El Mouallem in the UAE were crowned the winners of the MENA region’s first digital-health FemTech Accelerator Program. Launched in October 2021 during Expo 2020 by partners Organon and Flat6Labs to address unmet women’s healthcare needs, the winners were announced after the program’s ten finalists from across Egypt, Lebanon, UAE, Bahrain, Morocco, and Jordan pitched their ideas to a panel of judges and an audience of prospective investors.

The pitches took place at the ‘Demo Day’ event, hosted at the GrEEK Campus. The panel of judges selecting the final winners consisted of Dina El Shenoufy, Chief Investment Officer at Flat6Labs; Ramy Koussa, Associate Vice President of MENAT at Organon; Dr. Amr Alashkar, Chief Information Officer at Cleopatra Hospital Group; Jailan El Messeiry, Group Digital Marketing & Communications Manager at UN Women; and Frederika Meijer, Country Representative at UNFPA.

 

Omgyno, the start-up that won first place, is a FemTech platform redesigning the gynecological experience. After identifying the causes behind gaps in testing for the potentially cancer-causing HPV virus, including fear of judgment and accessibility, the two entrepreneurs worked on a user-centered platform offering home testing and telehealth, tailored to promote self-care and privacy.
Siira, the start-up that sat in second place, developed a mental health platform designed to accompany women in their daily struggles related to parenting, relationships and work. Conscious that only 30%-35% of people with mental health problems seek professional support, Sandra Salame’s start-up is focused on addressing this gap.
Globally, one in five women experience mental health issues during pregnancy, and/or following birth. Seeking to plug this gap, Maternally, which was adjudged third runner-up, is an online platform being developed to cater to women’s specific mental health needs during their motherhood journey.

“At Organon, we understand that prioritizing women’s health is tied to long-term productivity and resilient societies. That’s why, as part of our ESG Economic, Social and Governance-driven purpose to achieve her promise, we are committed to investing in programs, partnerships, initiatives, and ideas that work to fill that gap. The best ideas for addressing these gaps truly come from the women who experience these challenges first-hand,” said Ramy Koussa, AVP MENAT, Organon.

“With vast unmet medical needs, today, women across the MENA region cannot fully participate in the economy on account of a lack of adequate healthcare. Shockingly, the region loses $575 billion yearly due to the lack of female economic participation,” he added.

Dina El Shenoufy, Chief Investment Officer at Flat6Labs, commented, “At Flat6Labs, we have been delighted to participate in and support this female empowerment initiative. Participating start-ups have received over 65 hours of training sessions led by top local and international advisors, and 27 hours of one-on-one coaching sessions, helping them gain a solid understanding of the FemTech market, connect with key leaders and grow their networks.”
“Our partnership with Organon not only works to redress many of the gender inequities we see in the start-up world, particularly around access to funding, but also to support better women’s health. We know that female health and economic empowerment go hand in hand. By investing in the women in our communities and supporting greater gender equality, everyone across our societies benefits,” she added.

The FemTech accelerator program, announced shortly after Organon’s launch in the MENAT region, is the first regional Environmental, Social, Governance (ESG) initiative by Organon that is committed to addressing unmet women’s needs. Inspired by Organon’s purpose to help women and girls achieve their promise through better health, the program was designed to support female entrepreneurship and digital health start-ups that advance women’s health by providing support to build products, test market fit and improve business models, as well as access to investors.