Egypt’s Innoventures launches latest Startup Reactor programme
Launched in 2011, Innoventures is an innovation platform that aims to bring original Egyptian ideas to market by providing a platform catering to today’s entrepreneurs in the region.
Its six-month Startup Reactor programme is designed to support innovative startups with high growth potential and is a gateway to connecting entrepreneurs, investors, and mentors. Investors and mentors that participate in the programme receive an equity stake in the ventures they choose to support.
Innoventures will select 40 startups to take part in its Ignition Bootcamp stage, and receive mentorship and training, before up to 15 startups proceed to the Plasma stage. Throughout this stage, the startups will undergo an intensive training programme on developing their business models, prototypes, brand identities and customer bases. The qualifying startups receive a package that includes access to office space and facilities, access to mentorship from a network of more than 200 business professionals, consultation services, legal registration and advice, and support services such as accounting, HR, and marketing.
In addition, the startups will receive equity funding up to EGP300,000 (US$17,000), with the chance to participate in Startup Nova, a demo day where they will pitch in front of local and international investors. On this demo day, the top three startups receive cash prizes worth EUR15,000 (US$17,900) from VC4A.
As well as the main track, which is open to startups from any industry, the programme also includes several specialized tracks run in collaboration with industry partners. The Digital Media Track, powered by The Planet, covers analytics, advertising, content platform, content creation automation, e-commerce, talent management, and influencer management, while the Design Track, powered by Studio 49, covers smart appliances, lighting and lighting fixtures, design tools, consumer electronics, and smart furniture design.
The Computing Track is powered by IBM and covers cloud-based networks, software, IoT, chat-bots and AI technology. These specialized tracks ensure tailored acceleration experience and provide more focused support to entrepreneurs in key emerging industries.
Interested entrepreneurs are encouraged to attend the “Spark” sessions and workshops that will be held around Egypt over the course of this month, while applications are open here until January 20th.
Source Credits Disrupt-Africa
