An eclectic mix of fintechs, healthtech and edtechs make-up Changelabs Egypt’s second cohort.
It’s back. Following last year’s first round, one of the leading startup accelerators, Changelabs, has returned to Egypt for its second cohort demo day - and it certainly delivered.
With over EGP 4 million funding given to startups last year, the bar has been set high for the 13 new startups that are participating this time round. Having taken place this week, the virtual demo day saw some of the country’s most innovative startups vie for more than just funding. Training, mentorship and support from some of the most influential and successful figures from the ecosystem - the kind of thing that can really make or break a business - are up for grabs.
This year’s cohort is an eclectic mix of fintech, healthtech and edtech startups, while five of them look to tackle green energy. What they all do have in common, however, is that they all have the potential to aid the country’s economic and sustainable development.
“With the Government of Egypt’s vision to achieve a sustainable footprint, we believe entrepreneurship, shifting to new business directions dictated by the challenges we know and face every day, and the potential of Egypt’s youth are the ultimate levers that will help put Egypt in a leading position,” co-founder of Changelabs, Karim Samra, said of this year’s edition. “Sustainable impact is emerging as one of the key verticals in the country’s entrepreneurship ecosystem.”
In addition to the EGP 4 million funding, 10 startups from last year’s selection got the chance to learn at the hands of network of global mentors, and with the likes of Green for Growth Fund, Amazon Web Services and FMO partnering Changelabs this year, there’s much more at stake than meets the eye for the 13 participants. If you need proof of the effectiveness of Changelabs accelerator programme, then you needn’t look further than last year’s edition. One of the participants, Youspital (an online platform that provides discounted healthcare services) went on to serve some 9,000 patients, including through Corona home-tests, which emerged as a much safer alternative to the drive-thru testing that quickly became the go-to in Egypt. Another of the graduates, OTO Courses ( which offers English language courses to individuals and businesses) has recently been able to launch a new online platform in response to the pandemic called ‘Dardsh English’, and have served over 15,000 customers. A hard act to follow, yes, but there are high hopes for this year’s startups, too.
“We are proud to be showcasing the progress of our accelerated startups this year, co-founder of Changelabs, Jama Khayyat said. “We’ve got some innovative ideas and concepts among our 13 startups, from green energy providers like electric vehicle charging and electric scooter rentals, to FinTech services and fashion retail.”
The startups that presented this year are as follows:
-Delta Oil: Egyptian green energy startup focused on oil recycling.
-Dizaria: First electric vehicle charging service provider in Egypt.
-Hand Over: Green design and build company specialized in delivering environmentally friendly building solutions.
-Seavo: Egypt’s first designer and manufacturer of environmentally friendly watercrafts.
-Vesstoss: Offers an energy-efficient, public transport solution for ‘closed communities’ in Egypt through electric scooter rentals.
-Baramoda: Agritech startup that is focused on developing organic fertilisers from the waste products of sugar factories.
-Dayra: Sells pre-owned high-quality clothing online at affordable prices.
-DomDom: User-led digital graphic design platform offering a graphic editor with 1000s of designs assets and exclusive Arabic stock photos.
-El-Dokan: Enterprise e-commerce software designed for large and growing retail stores in MENA.
-Hospitalia: In-home healthcare services marketplace.
-Mawelny: Online platform that connects individuals and SMEs in need for credit finance with banks and other lenders.
-PraxiLabs: Provides equal opportunities for an enhanced science education.
Square Corner: Platform focusing on culture enhancement by providing fun and engaging gamified virtual team-building activities.
For more information, head over to the Changelabs website.
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