Changelabs Leads Two-Track Accelerator for Egyptian Startups with Major Global Platforms
The programme includes fifteen Egyptian startups, and will offer each a unique set of perks that would equip them to launch their ventures.
Egypt-based startup accelerator Changelabs has announced the new slate of startups joining their two-track accelerator programme. In partnership with industry leaders such as Amazon Web Services (AWS), the Dutch Development Bank and Green for Growth Fund (GGF), the entrepreneurial platform is launching an Energy and Impact sector track led by fifteen of Egypt’s burgeoning social impact and energy startups. “We believe entrepreneurship can change the world,” says Karim Samra, co-founder of Changelabs.
The Impact track includes Araza2, Baramoda, BirdNest, Praxilabs, Dayra, DomDom, El-Dokan, Hospitalia, Mawelny and Square Corner, while the Energy tack includes Verstoss, Delta Oil, Dizaria, SSV and Hand Over. All the startups will take part in an eight-week programme that’s devised to guide the founders and entrepreneurs to realistically action their ideas to become operational businesses that further help Egypt's sustainable development.
“We invested EGP 2 million in startups after last year’s cohort and are excited to work with the 15 shortlisted Egyptian startups this year,” adds Samra. The unique programme offers startups the chance to bolster their network via Changelabs’ superlative access to the ecosystem, including world-class mentors, experts, investors, partners and markets, in addition to receiving EGP 1.5 million in funding.
What sets the programme apart is its keen focus on early-stage startups, which immediately brings the aspiring entrepreneurs in close (virtual) contact with a vast global community. This enables the startups to interact and pitch with seasoned regional and international investors and, as Changelabs Co-founder and Managing Partner Jamal Khayyat notes, turn “MENA’s challenges into profitable opportunities.”
