ACCELERATING THE FUTURE
Flat6Labs Trains 100+ Saudi Entrepreneurs at Misk Innovation Startup Bootcamps
5 Cities, 5 Bootcamps, 75+ Startups, 100+ Saudi Entrepreneurs Empowered by Flat6Labs
The Misk Innovation Startup Bootcamps powered by Flat6Labs program, was held late 2019 in five different cities across the kingdom to see that those with vision, ambition, and insight, get the best the MENA has to offer of mentorship, funds, and exposure to a local, regional, and international network of investors. After rounds of filtration from 900+ applications, the bootcamps held in Riyadh, Jeddah, Al Madinah, Khobar, and Al Qassim, saw over 90+ idea-stage startups; around 100+ entrepreneurs; and tens of mentors flocking the bootcamps.
The bootcamps hosted a number of sessions designed to introduce the participating startups on how to take their startups to the next level. Starting from design thinking, which helped startups formulate methods through which they can tackle complex problems; and moving on to customer acquisition, an essential ingredient of any successful startup. The mentors and coaches also provided sessions on how to create business and financial models, with the aim of setting clear revenue streams and aiding startups in the management of their resources. The sessions also contributed to the startups ability to define and accentuate the value they will be giving to their customers through value proposition sessions, and how to use growth-hacking to accelerate their penetration of the market and the realisation of the product/market-fit.
Knowing that well-rounded team is what drives the success of any startup, the program also hosted sessions on the best methods to allocate human resources that could drive the business forward. The program also brought legal experts who provided sessions on how to setup the startup in Saudi. Finally, and most importantly, through workshops designed to attract customers and investors, startups’ founders were trained to deliver amazing pitches.
The whole purpose of the Misk Innovation Startup Bootcamps powered by Flat6Labs is to enable aspiring entrepreneurs to create and innovate.
“I was capable of changing my startup’s strategy to suit my business needs and aspirations because of the mentorship that was provided during Al Madinah Bootcamp.” — Osama Al Motrfy, CEO of Waste Turn
We’ve taken it upon ourselves to ensure that the 75+ entrepreneurs attending our bootcamps across the kingdom, get the best mentorship and direction at such a critical stage in the startup’s life.
“I already learned a lot and it’s only been one day. Well organized, great trainers, and amazing energy” — Suhail Ahmed, CEO of Group4Less
Flat6Labs saw that each of the startups got the best support possible to help them venture and kick off innovative services and products through bringing in our team, and local and international mentors to help the startups ground their ideas. We’ve given Saudi entrepreneurs access to a number of essential tools that will help them succeed in the future and change the startup ecosystem starting from ideation sessions to design thinking and legal setup. Empowering such a drive of passionate entrepreneurs and raising awareness are at the core of why Misk kicked off its Misk Innovation Startup Bootcamps and the reason Flat6Labs powered it! This goal has been achieved, but it is just the start!
Flat6Labs saw that each of the startups got the best support possible to help them venture and kick off innovative services and products through bringing in our team, and local and international mentors to help the startups ground their ideas. We’ve given Saudi entrepreneurs access to a number of essential tools that will help them succeed in the future and change the startup ecosystem starting from ideation sessions to design thinking and legal setup. Empowering such a drive of passionate entrepreneurs and raising awareness are at the core of why Misk kicked off its Misk Innovation Startup Bootcamps and the reason Flat6Labs powered it! This goal has been achieved, but it is just the start!
Flat6Labs Hosts First Regional Demo Day
Flat6Labs hosted its First Regional Demo Day during ArabNet Riyadh on December 10, 2019, which took place at the Riyadh International Convention & Exhibition Center. The Regional Demo Day is a first of its kind for Flat6Labs on a regional level, following more than 30 successful local Demo Days across Flat6Labs locations in Egypt, KSA, UAE, Lebanon, Tunis and Bahrain.
The Regional Demo Day showcased 18 investor-ready, high-growth, scalable startups from Cairo, Beirut, Tunis and Bahrain , who presented their products and services to a select audience of potential investors and the media from Saudi Arabia, the MENA region, and the international entrepreneurial community.
The selected Flat6Labs startups were handpicked from a pool of 240+ startups from the past 30+ cycles, providing them with the opportunity to scale and expand into the MENA region and beyond.
The startup founders and teams were tackling solutions across an array of industries including Clean Technology, E-commerce, Ed Tech, Health Tech, IoT, SaaS, Logistics, Recruitment, Sports Tech, among others.
Flat6Labs startups go through several stages before they are selected to become a fully developed startup, powered by Flat6Labs funding, network and expertise. They also have the privilege of using the Flat6Labs office space as their own, where they are connected to mentors, consultants, investors, business workshops, training sessions and perks, amongst many others.
The First Regional Demo Day solidifies Flat6Labs’ aim to accelerate the growth rate of entrepreneurship in MENA, and to provide a steady pipeline to the region’s rapidly-growing venture capital ecosystem.
Flat6Labs’ mission is not only to serve startups as an early stage investment vehicle, but much more than that: we are our startups’ institutional partner. As Flat6Labs’ footprint and impact grows across MENA and even beyond, we make sure that this leading stance within the region directly helps our startups and partners to achieve their goals in reaching their customers and scaling across their required markets” said Ramez El-Serafy CEO at Flat6labs.
And that’s exactly what we’re doing with our first Regional Demo Day. We’re bringing together 18 brilliant Flat6Labs startups from across our offices in MENA to enable them to take their next step towards follow-on funding and scalability” added El-Serafy. Omar Christidis, CEO of ArabNet said, “We’re thrilled to be hosting the first ever Flat6labs Regional Demo Day at Arabnet Riyadh this year. The conference is the ideal platform for these promising startups to access the region’s largest digital market — Saudi Arabia — by connecting with over 6,000 attendees and 150+ investors, and forging relationships with potential partners and clients.”
Here are the 18 graduating startups that showcased their products and services during the First Regional Demo Day:
- Akalati: Food ordering app for parties and gatherings.
- Bexel: Cloud-based Inspection Software for Oil & Gas and Construction companies.
- Boostiny: A performance based advertising platform linking brands with nano-influencers
- Chefaa: On-demand application to scan and deliver prescriptions to patients, locate the nearest pharmacy, and order from pharmacies online.
- Clean2O: Clean2O designs products that make water safe for cooking and drinking anytime, anywhere.
- GoMyCode: High-end computer Science Education with a unique learning experience that leaves lasting impressions and positively impact our students’ lives.
- Illa: lla is a digitally operated multi-sized platform that provides transportation and distribution services.
- Majara: A career platform that focuses on matching young professionals with employers on the basis of culture fit.
- Mint Basil Market: An e-commerce platform for healthy natural products.
- Schedex: Smart, automated, and flexible employee scheduling SaaS for shift-based companies and hourly workers.
- Springring: Springring is a School Communication Management Platform linking admins, parents, teachers, and students together.
- Tamarran: Tamarran helps you find and book sport venues, fitness classes and recreational activities in town.
- Tap4Glam: Tap4glam.com is an innovative solution for booking beauty and wellness services at home, for companies or during events.
- Telp: Telp is an online platform which helps students find and book lessons with private tutors instantly.
- Untap: Untap is a submission management tool used to efficiently launch and manage online competitions and calls for applications.
- VRapeutic: VRapeutic develops virtual reality software for learning disabilities and developmental disorders.
- Wattnow: Wattnow’s mission is to support companies and building operators visualize their consumption in real time and helping them reduce their electricity bills by up to 30%.
- Zima: A cost-saving SaaS that enables Internet Service Providers to manage their user bandwidth, billing and subscription– with no need for hardware.
Flat6Labs has an open application process, allowing founders to apply at any time to receive feedback and enhance their selection opportunities for upcoming cycles around the region. Founders can learn more and apply at www.Flat6Labs.com
Flat6Labs Cairo Graduates 11 Innovative Startups at its Fall 2019 Demo Day
Flat6Labs Cairo, the leading Startup Accelerator in Egypt, held its fall 2019 Demo Day with eleven new start-ups graduating from its second cycle of fiscal year 2019.
Flat6Labs Cairo’s fall 2019 cycle commenced on August 25th in 2019 and welcomed eleven promising new teams, filtered from over 1200 applications, who are now excited to launch their businesses to the general public. This cycle has entrepreneurs coming from all across Egypt and the startups are working across various industries, from Home Automation, Health Tech, Logistics and SaaS, to E-commerce, Management Consulting, Web Development & Recruitment, offering innovative online and digital solutions set to disrupt the market.
Attending the Demo Day are Flat6Labs investors, mentors, top government officials, reputable technology experts and influencers from the region, and press, who are keen on witnessing the progress of the start-ups and the latest innovations in the region.
Flat6Labs Cairo fosters and invests in bright and passionate Egyptian entrepreneurs with cutting-edge ideas, and supports them by providing access to a vast network of local and international investors, industry experts, partners and corporations. With a fund size of EGP 100m, Flat6Labs Accelerator Company (FAC) aims at investing in up to 100 early-stage startups and 300+ entrepreneurs, during its five years investment period. Every six months, Flat6Labs Cairo provides seed capital to eight to ten new startups, each company receives from EGP 500K to EGP 750K in funding for up to 10% equity.
“We’re extremely happy to be graduating this latest batch of 11 startups and cannot wait to see how they’ll continue to scale their businesses to a new level post Demo Day”. He adds, “We can say with confidence that this group of entrepreneurs are go getters and relentless in their quest towards success, and we fully stand behind them even after they’ve left Flat6Labs Cairo’s doors”. — Ramez El-Serafy, Flat6Labs CEO
The eleven graduating startups that are showcasing their technologies and business ideas at Flat6Labs Cairo Fall 2019 Demo Day include:
- AION: AION Innovations offers easy to install and affordable smart home solutions which are accessed and controlled remotely using an innovative mobile application.
- Axon: AXON is a medical platform which saves individuals and organisations up to 80% on medical and wellness services through one consolidated annual membership.
- BeXel: BeXel is a cloud-based software that helps quality control engineers in checking safety standards for equipment used in various sectors such as oil, gas, construction, and hotels.
- Consulting Pad: Consulting Pad empowers businesses by matching them with experts from world-class MBA programs and multinational companies.
- Curotrip: A one stop shop for patients all over the world to get connected to Egyptian medical professionals , book and plan the whole medical journey in a few simple steps.
- Fridge: Fridge provides all the required grocery and hygiene supplies to businesses on an interval basis (monthly, weekly, or daily) at wholesale prices. Saving businesses time, money and resources.
- HOVO: HOVO is your tech-enabled logistics partner that provides trucks in 20 mins across Egypt. They proudly have a fleet of over 3000 trucks in different sizes.
- Makwa: Makwa is a mobile application that provides doorstep dry cleaning, laundry pickup and delivery services.
- ShipHaly: ShipHaly An online platform that connects shoppers to travelers, offering a secure, affordable, and seamless shopping experience.
- Talents Arena: Online technical hiring platform, enabling companies to hire the best technical talents in 14 days or less.
- Wuilt: Website builder that creates a multi-lingual websites in 3 easy steps, in less than 10 minutes.
Here Is Why Flat6Labs Believes MENA Needs More Women Entrepreneurs
More women entrepreneurs means more innovation
There are often two reasons why someone would start a startup, and it can be either the potential of an untapped opportunity or the potential of surviving poverty and unemployment. In a recent study on women entrepreneurship in the MENA region, Hala Hattab found that the general consensus is that women are driven to take part in entrepreneurial activities because of the existence of opportunities, especially in Egypt. Since we’ve already mentioned that women compromise 48% of MENA’s population, this means that with more women entrepreneurs there is a much higher chance for innovative products and services, and room for improvement in every industry. This will benefit consumers, businesses, governments, and economies of countries at large.
Women-led small businesses tend to create an overflow of job opportunities
If more women entrepreneurs were to start venturing with scalable businesses, more job opportunities will be created, and the GDP of countries affected by such growth will increase. In one research, it has been forecasted that if women were capable of starting such businesses, millions of jobs will be created; Dell’s research further elaborated that in the U.S. alone 15 millions jobs will be available for the unemployed. Hattab’s research on the employment rate in women-led small businesses in MENA, indicated that the highest average of employment rates exists in Jordan, Lebanon, and Yemen with around 20 employees per startup; a big number considering that the businesses are still at their infancy.
Women inspire other women
Women inspire women. Independent, powerful, and socially impactful women can inspire women to start their own businesses, and be a strong force in any economy. StartEgypt initiative has roamed 17 cities over the past years, and has trained and counseled 1,000 women entrepreneurs around Egypt through 14 Female Founder sessions. During such sessions, StartEgypt brings successful entrepreneurial models to inspire Egyptian females all across Egypt, and they also offer workshops for female entrepreneurs, and provide them with access to their incubation program. Also, StartEgypt’s ‘Inspire’ which was held 42 times, saw about 6,000 females attending it. Last but not least, StartEgypt has welcomed 20 female founders to their incubation program the past cycles! When women are inspired they can lift themselves up from poverty, they can fight unemployment, and their independence will evidently inspire other women.
Women are more likely to invest their revenues to further extend the growth and impact
A research conducted by the World Bank, found out a pattern where women are more likely to invest 90% of their income in supporting their families and communities. To further elaborate, a Goldman Sachs report states “enabling women, particularly as entrepreneurs, benefits future generations because women tend to spend more on their children’s education and health, which should boost productivity as well.”
Flat6Labs’ Six Top Tips To Get Investors’ Attention
According to CBinsights.com, running out of cash and the lack of investor interest in a startup are some of the common hurdles that stand in the way of early-stage startups. With Flat6Labs expertise in the startup ecosystem over the past 8 years, Flat6Labs’ CIO, Dina el-Shenoufy, and our Managing Partners and Directors from our offices: Flat6Labs Beirut, Flat6Labs Bahrain, Flat6Labs Cairo, and Flat6Labs Tunis, discussed how startups can maximize their potential and chances with local, regional, and even international investors. They have thoroughly examined, through both experience and knowledge, the conditions and preferences of investors when they are fishing for innovative, scalable, and all-around amazing startups. And, with the number and magnitude of events we hold each cycle for our startups, we’ve demonstrated our ability to give each of our startups multiple chances to meet with and actually secure deals with investors. Mainly through our networking events, pitch nights; our speed-date investor mixers; and through the Demo Days, which always hosts a number of local, regional and international investors and even mentors and government officials.
1. Make the distinction between an institutional and angel investor and what each looks for.
In order to lay ground for what comes next, Flat6Labs’ CIO, Dina el-Shenoufy, highlights that “first, a startup must make the distinction between an institutional investor and an angel investor because each offers different amounts of investments, has different goals, and even sets a different criteria for the startups they decide to fund.” This will enable you as a startup to know how you are going to attract an investor to your startup.
“Institutional investors measure the strength and potential of a startup by its ability to show concrete results, and by having a vivid plan of the future.” — Flat6Labs’ CIO, Dina el-Shenoufy
El-Shenoufy added that institutional investors often look at the idea before anything else. This entails how innovative the technology the startup is adapting or even creating; the scarcity and need of the product/service in the market; the breadth of the market, and the lack of competition. Such investors also look deep into how the team is structured: the passion, harmony, experience, motivation, and commitment, with traction and everything else coming next. “Institutional investors measure the strength and potential of a startup by its ability to show concrete results, and by having a vivid plan of the future,” el-Shenoufy says.
“Angel investors look for companies that they can relate to, believe in, and wholeheartedly support while still understanding the risks” — Flat6Labs’ CIO, Dina el-Shenoufy
Dina further elaborated that angel investors look for companies that they can relate to, startups that they can absolutely believe in and want to support. Such investors don’t necessarily have to be experts in your industry, but being a good storyteller can make the difference if you really want to get their funds. Remember that being capable of selling your idea to an investor who might not know anything about the industry you are targeting is no easy task. Articulate your solution in layman terms, whether it is a service or a product, and it will eventually help the investor understand how it helps solve a major problem. Such investors often understand the risks, but they are willing to fight with you for what you and they believe in.
2. Set a clear and realistic growth plan
Another thing that both kinds of investors look for is clear growth plans. El-Shenoufy said that investors do not want to see unrealistic growth and scalability plans. If you’ll be saying that you’re getting 1000 customers next month, tell them exactly how you will be utilising your resources and funds to do it. Investors want to know how you will be making revenues out of selling your product/service and they dislike ambiguity. They need to see that you will be capable of using their investment to generate revenue and scale your business beyond the trajectory you were already on before the funding.
3. Have all things considered: the industrial, economic and social fit
“Angels typically invest in something they find interesting or something they can help to scale or monetize further. Also, some investors have specific preferences when it comes to the economy they are targeting. For example, they would rather invest in Europe over the middle east or perhaps the USA over Europe. So many times the economic situation where the startup is domiciled can aid or hinder the startup’s plans of scaling and growth if the investor is targeting a different economy. In addition, investing in a startup is like investing in a person. You want to understand what they have been through, and how they’ve been educated before you invest. Angels sometimes invest in the person more than the idea. Ideas are easier to pivot, it’s harder to change a personality.” — Ryaan Sharif, Flat6Labs Bahrain’s Managing Director
Some investors prefer specific markets, industries, economies, and specific types of founder personalities. In order to make sure you don’t waste an investor’s time or even your own, research the investors who will be showing at the event. If you are attending our Demo Day for example, our application (download through Play Store & Apple Store) is a great tool to see the people attending and even chat with them. This way you can know who exactly you want to find and talk to about your startup. Find an investor who is interested or works in the same industry as you; an investor who wants to take your product beyond the borders of your country if your growth plans aligns with his/her goals, and an investor who is willing to invest in you because of what you stand for!
4. Highlight your ability to generate revenue and traction!
“Seed funds review and assess promising businesses, and most likely, they choose one startup out of each 100 startups. They seed to add value and capital to the companies, but in return, they want founders who have brilliant execution, and have already have proven something with their traction and their future plans! Investors finance people who are constantly talking to their real customers and understanding their needs. They invest in hard workers. It’s fundamental. It’s also about cultural and personal fit, shared vision, and trust.” — Walid Triki, Flat6Labs Tunis’s Managing Partner
While often overlooked by idea-stage startups, startups that have gone far and beyond to execute a project must always be diligent and hardworking when it comes to improving their sales. This means, doing proper market research to ensure that the product aligns with the market needs and pivot when needed. Understanding that traction is an important deciding factor when it comes to your startup’s success will accelerate your startup, and help you acquire investments. Always remember to weave in your best figures into everything you say, give the investor something that shows how your product/service is very promising.
5. Your team is your biggest asset, nurture and invest in it.
“Your team is your biggest asset. Like any asset you need to nurture it, grow it and invest in it, so you can monetize it. Your team should be enthusiastic, ambitious and speaks the same language. The harmony of your team is key to capturing investors’ interest” — Marie Therese Fam, Flat6Labs Cairo’s Managing Partner
Besides your team being the catalyst of all good things, crossing milestones, and successfully achieving your growth plans, the investor will be looking for a team of different competencies. The investor wants to see a capable team that is diverse in the areas of expertise, but one that works in harmony to develop products and services.
6. Have an exit strategy in place
“ Investors always think about the exit strategy of the startup, and if it has the potential to be one of their top quartile portfolio companies. In addition when we ask founders about their exit strategy we understand their level of commitment to building the business, their level of flexibility and if they thought about possible exit scenarios.” — Danny Maalouly, Flat6Labs Beirut’s Managing Partner
Investors always look for the potential of an exit strategy and set the criteria for their exits when they are hunting for startups to invest in. In turn, they also measure the startup founders flexibility with exiting if an acquisition deal is on the table.
Being capable of understanding what the investor looks for in a startup will help you form proper strategies for when you approach investors, and will also help you target specific investors who are more likely to support your startup.
You can now apply for one of our programs
-5th cycle of Flat6Labs Beirut: apply here
-14th cycle of Flat6Labs Cairo: apply here
-6th cycle of Flat6Labs Tunis: apply here
-4th cycle of StartEgypt: apply here
Dream chasers, tech geeks and entrepreneurs who are pursuing greater goals for their startups are encouraged to apply!
Flat6Labs Bahrain Portfolio Raises $1M in Total Follow-on Funding
Flat6Labs Bahrain’s portfolio of startup companies has officially raised USD$1m in total follow-on funding through the support of the accelerator’s network and ties with local and regional investors and VCs. Over the course of its operations in Bahrain since March 2018, Flat6Labs Bahrain, in strategic partnership with the Labour Fund “Tamkeen”, has invested in a total number of 21 startups, half of which have now gone on to receive follow-on investments from other VCs, Angel Investors, and High-net worth individuals.
Ryaan Sharif, Managing Director of Flat6Labs said: ‘We are proud to announce that our portfolio companies have raised a collective amount of $1m in follow-on funding over the course of a year and a half. This milestone highlights our hands-on approach with supporting our startups throughout the programme and post-graduation, especially in utilising our expansive network to connect them to other investors and generate new opportunities for them to scale their businesses into neighboring countries.’
The Chief Executive of Tamkeen Dr Ebrahim Mohammed Janahi stressed the importance of the support extended by this program and its worth in effectively and directly addressing the needs of start-ups in Bahrain”.
“This success attests to the unique attributes that distinguish Bahrain’s economic environment and make it such a business-friendly and lucrative place for growth,” he continued.
Flat6Labs Bahrain has begun the Bootcamp for its 4th Cycle, taking place at their offices in central Manama where 17 startups have been selected to participate. A record number of over 380 applications were submitted for the 4th Cycle. The team has scouted some of the most promising international and local businesses to continue to this next round of the selection process from various industries such as Health-Tech, Fintech, E-Commerce, Ed-Tech, F&B, Automotive services, Children’s Entertainment. A world class Startup coach has been flown in from Silicon Valley to provide mentorship for the Startups as they proceed to the selection committee.
The Flat6Labs Bootcamp is a compressed version of the accelerator programme, designed to teach the participating startups about lean startup principles and how to utilise them in their growth and business development. The Bootcamp is the final phase of the selection process, following which 6–8 startups will be selected to receive a $32K investment each, in addition to several other perks such as co-working space, access to Flat6Labs’ expansive network, $15K in AWS credits, mentoring, coaching, legal and financial counsel, company registration and more.
In strategic partnership with Tamkeen, Flat6Labs Bahrain aims to foster a dynamic and sustainable entrepreneurship environment and investment vehicle, support job creation, and help position Bahrain as an innovation leader in the Gulf and MENA region at large.
Flat6Labs Bahrain has utilized its expansive regional network to attract innovative startups from Bahrain, the region and beyond, which aims to boost the local economy, and venture capital industry with a steady pipeline of high-impact and scalable businesses in multiple industries.
Flat6Labs Beirut Graduates 7 Startups During Its Fourth Demo Day
Under the patronage of HE Minister of ICT, Mr. Adel Afiouni, Flat6Labs Beirut, Lebanon’s leading regional startup seed program and early stage fund, hosts its Fourth Demo Day at Music Hall in Beirut. The Demo Day introduced seven new startups from Flat6Labs Beirut’s seed program. This event showcased the graduating startups, acting as a platform for founders to present their products and services to a select audience of potential investors, the media and the greater business community. It also provides the startup founders with business development, networking and scaling opportunities.
The Fourth Flat6Labs Beirut Seed Program cycle, which commenced on June 6th, 2019 welcomed 7 new startups tackling solutions across an array of industries including personalized cosmetics, fleet management, pharmaceutical supply chain, water sanitation, IoT, SaaS for ISPs and on-demand platforms.
All the startups have technology at their core and showcased their product to potential investors, the media and the greater business community. Flat6Labs Beirut supports and invests in promising Lebanese startups with innovative and fresh ideas. Each team goes through several stages before they are selected to become a fully developed startup. Once inducted into the program, each startup has unlimited access to Flat6Labs Beirut’s overarching network of mentors, investors, consultants and experts. They also have the privilege of using the Flat6Labs Beirut office space as their own, where they are surrounded by a network of mentors, consultants, investors, business workshops, training sessions and perks, amongst many others.
The graduation of the fourth batch of startups solidifies the company’s aim to accelerate the growth rate of Lebanese startups and provide a steady pipeline to the rapidly-growing Lebanese venture capital ecosystem.
“In under 24 months, Flat6Labs Beirut has proudly incorporated and invested in 33 new Lebanese SAL companies, supporting them through product validation and going to market, and established a network of highly skilled and passionate founders, mentors and corporates. In fact, in 2018 and during its first 12 months of investment, Flat6Labs Beirut contributed to 50% of the investments in the Lebanese ecosystem” – Hany Al-Sonbaty, Chairman of Flat6Labs.
Omar Christidis, CEO of ArabNet said, “We are thrilled that Flat6Labs Beirut is graduating their fourth cycle of startups and has helped create 33 new companies driving the Lebanese economy forward. We look forward to creating more companies in the coming years.”
Here are the seven graduating startups that showcased their products and services during the fourth Flat6Labs Beirut Demo Day:
- Clean2O: Clean2O designs products that make water safe for cooking and drinking anytime, anywhere.
- Fleets.ai: Fleets.ai provides real-time fleet monitoring to optimize fleet performance, maintenance costs, and fuel consumption.
- IoTree: IoTree is a wireless sensory network of smart traps that are developed using a deep learning algorithm for the early detection of harmful pests and insects in farms.
- Joona: Joona offers playful and personalized quality skincare products according to dermatological types, conditions and preferences.
- PharmaKlik: PharmaKlik is a cloud-based omnichannel platform that links pharmacies with suppliers.
- Presentail: Presentail is a gifting platform for Lebanese expats featuring hand-picked products from nostalgic suppliers, delivered quickly and safely.
- Zima: Zima is a cost-saving SaaS that enables Internet Service Providers to manage their user bandwidth, billing and subscription– with no need for hardware.
Flat6Labs Beirut will launch its Fifth Cycle in November 2019 and has an open application process, allowing founders to apply at any time to receive feedback and enhance their selection opportunities for the upcoming cycle. Founders can always apply here.
Flat6Labs Tunis Graduates Cycle Four Startups
Flat6Labs Tunis hosted its Fourth Demo Day; introducing eight new startups from its acceleration program. This was an opportunity for 8 innovative startups to present their projects to an audience made up of representatives of investment funds, bankers, Tunisian and foreign entrepreneurs as well as selected experts from the information and communication technologies sector (TIC).
Since its launch in partnership with BIAT, TAEF and Meninx Holding, Flat6Labs Tunis has supported 28 innovative startups as part of its objective to promote a new dynamic of business creation at the service of the growth of the Tunisian ecosystem through innovative solutions and applications.
The program also offers several investment tickets of up to one million TND. It welcomes startups working in various sectors oriented towards innovation and the knowledge economy, including education, energy, transport, fintech, green tech, ICT, electronics and industrial solutions.
Last May Flat6Labs Tunisia started its fourth acceleration cycle by accompanying eight new startups that operate in different industries:
- Artify: An online streaming platform for Maghreb movies and other multimedia content.
- Datavision: A platform for “visual analytics” and smart boxes that help store owners measure the experience of their visitors.
- Farm Trust: e-commerce platform for fresh, organic and traceable agricultural products.
- Rahba.tn: Marketplace offering a variety of products and services targeting the agricultural sector and farmers.
- Taderok: Smart school books and an educational platform to help children learn more effectively.
- Tap4Glam: A mobile application of beauty and cosmetic services on demand.
- Teskerti: Electronic ticketing and access control platform to support event organizers and their audiences.
- Trust IT: An online marketplace for computer repair and delivery services.
As a prelude to the Demo Day, a convention signing ceremony was organized in the presence of the Chairman of the Board of Flat6Labs Tunisia, Mr. Mehdi Tamarziste, and the International Finance Corporation (IFC / IFC) Tunisia in the person of his Resident Representative, Mr. George Ghorra. The IFC has signed a deal to invest $1m (about 3m Tunisian Dinars) in the Anava Seed Fund managed by Flat6Labs Tunisia.
The program is renewed every six months, to offer new Tunisian entrepreneurs the opportunity to benefit from a top-notch support during the different stages of their project.
Flat6Labs Tunis and its partners offer entrepreneurs a mentoring program, a co-working space, and many other advantages and privileges, as a prelude to the financing of startups by investors outside the program. To apply, please click here
IFC Invests in Flat6Labs Tunis to Help Boost Startup Ecosystem in Tunisia
IFC, a member of the World Bank Group, is investing $1 million into Anava Seed Fund (ASF), an accelerator and early stage fund managed by Flat6Labs Tunisia, to help support tech entrepreneurship and women entrepreneurs in particular, as well as to boost Tunisia’s nascent venture capital ecosystem. Half of this amount is 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 supports women entrepreneurs in developing countries by building their capacity, scaling up access to financial products and services, and providing links with domestic and global markets.
Flat6Labs Tunisia, a partnership between Flat6Labs — the region’s largest acceleration program and early stage investment platform — BIAT, TAEF (Tunisian American Enterprise Fund), Meninx Holding and Le15, is increasing its seed fund size to $10 million to support up close to 100 technology companies, and to help address the lack of early stage capital in Tunisia.
Ramez El-Serafy, CEO at Flat6Labs, said, “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.”
As part of the We-Fi program, IFC will also work with Flat6Labs Tunisia to support women entrepreneurs and help overcome the challenges they face through a gender-led strategy to foster greater inclusion and create more opportunities.
“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,” said Georges Joseph Ghorra, IFC’s Resident Representative in Tunisia. “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.”
The investment in Flat6Labs Tunisia is part of IFC’s $30 million Startup Catalyst initiative, which backs accelerators and seed funds in emerging markets to catalyze the venture capital ecosystem and spur entrepreneurial activity. It aims to help bridge issues of insufficient seed capital and business know-how and drive innovation by supporting the crucial early stage of local VC ecosystems. The Flat6Labs Tunisia investment follows two other investments through the Startup Catalyst program in the MENA region — Flat6Labs Cairo, Flat6Labs’ flagship accelerator program based in Cairo, and Ibtikar Capital, an early stage fund in Palestine.
35+ Corporates and Investors Meet Flat6Labs Beirut’s Startups
On Friday, September 20th, 2019, Flat6Labs Beirut held its first Business Networking Event at Beirut Digital District 1280. The purpose of this event was to allow international and local corporations to meet Flat6Labs Beirut’s both current and alumni startups on one-on-one speed-dates in order to discuss potential collaborative partnerships and/or investments.
20 of our startups had the chance to meet with 39 companies from various industries; ranging from banks, telecom, e-commerce, NGOs and a lot more. In addition, the Ministry of Environment sent a representative as well to encourage the startups and develop stronger bonds with the innovative founders.
The event was split into three sessions of 90 minutes each, where each corporate had an assigned table, and the startups would meet with a new corporate every 15 minutes in a speed-dating format.
Fawzi Rahal, Flat6Labs Beirut’s Managing Director, introduced the 3 sessions with a brief presentation about Flat6Labs; which gave a more in-depth understanding to the corporates about its operations, regional offices, funds and activities.
An intriguing aspect of the nature of the event was when the startups were compelled to ponder about creative ways in which they could target their products and services to cater to companies they haven’t contemplated of collaborating with previously. During the event, things took an interesting turn and went beyond only forming partnerships when corporates shared business tips with the founders on a more personal level. For instance, the founder of the direct to consumer startup in the personalized cosmetics industry, Mounira Al Halabi, CEO of Joona, received tips on how to handle customer service and how to be an affirmative leader.
Flat6Labs team had received a lot of positive feedback from the founders; such as Naim Zard, CEO of Zima stating “I had such a fruitful experience. Various opportunities had opened up to me; for example, The Smallville Hotel wants to pilot our product in the future. Also, I got to meet a potential investor from BlomInvest.”
Mohamad Fakhreddine, CEO of Clean2O, was delighted he had the chance to speak and share Clean2O’s proposed solutions in improving water quality in Beirut with Richard Hanna, the representative of the Minister of Environment; it would have been difficult to be acquainted with him otherwise.
The corporates were very positive about the event as well, “The even was very organized, I really enjoyed it! There are a few companies I would like to meet again. I loved the ambience” said Maya Ziadeh, Investment Officer at Merit corporation — CMA CGM. Yusr Sabra, Managing Partner at Wakilni, and Johnny Abi Allam, Digital Marketing Manager at HiCart, agreed that they “found the matching better than expected, and the whole process was seamless and enjoyable; which led them to affirm that they would participate again and recommend their acquaintances to participate next time as well”.
Fady Azzy, Head of Retail Business Development at BLOM Bank also shared Yusr’s sentiment and stated that “Mostly, all aspects of the event were great and exceeded my expectations; hopefully, I will be able to participate next time.”
Business cards were exchanged, and the corporates were amped to know that they are invited to Flat6Labs Beirut’s Fourth Demo Day on October 10th to see our startups pitching their startups onstage, and learn more about any developments they’ve made since their meeting at the event.
You can apply for Flat6Labs Beirut’s upcoming cycle here!