The Startup Reactor is designed to support innovative SMEs operating in high-opportunity industries in Egypt. This edition of the Startup Reactor also launches with a new EGP30-million (R24-million) venture capital fund.
The programme sets out to foster a networking environment for entrepreneurs, mentors and investors for six months. Both investors and mentors will receive an equity stake of an undisclosed amount in any venture they choose to support.
Eligible startups will undergo an intensive training programme which focuses on developing the SMEs’ business models, prototypes, brands and customer base. In addition to their training, each startup will also be assigned a dedicated mentor.
The Startup Reactor aims to bolster the success of innovative startups through its programme
The Reactor also features a range of benefits such as office space, legal support with registering the startup and up to EGP30 000 (R24 000) in funding as well as a cash prize of €15 000 by VC4A.
Innoventures is also enhancing its Startup Reactor by adding three separate industry tracks. The Reactor’s specialised media track is powered by JuiceLabs and is open to any SME in advertising, analytics, content platform, content creation automation and e-commerce as well as talent managers and influencer management.
The third track, E-waste management powered by SRI and CleanTech Arabia, will be for any startups recycling electronic waste.
Applications for the Startup Reactor close on 1 April 2017.
Featured image: VC4A