The 10 early-stage startups that participated in Changelabs Egypt‘s first cohort have graduated.
This follows a demo day that the impact-centred accelerator held in Cairo last Thursday (22 August) where the 10 pitched for 2-million Egyptian pounds (about $120 000 at the current exchange rate).
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It is not clear which of the startups won funding.
Ventureburn sought comment from the accelerator, but had not received a response at the time of publication.
The Changelabs Egypt accelerator is aimed at early-stage social enterprises
The six-week accelerator programme is run in partnership with The Dutch Development Bank (FMO), Sanad Fund, Amazon Web Services (AWS), Blom Bank Egypt and Fekretak Sherketak.
The accelerator targets early-stage social enterprises that have the potential to deliver meaningful change while generating sustainable profits.
Changelabs Egypt provides each participant with pilot funding of 20 000 Egyptian Pound ($1207), at least 400 000 Egyptian pounds (about $24 000) worth of AWS credits, and up to one million Egyptian pounds ($60 000) in seed funding.
The 10 startups that graduated last week operate in the sharing economy, proptech, health and wellness, agritech and edtech verticals. Changelabs says on its website that the 10 have a collective valuation of over $200-million.
They are:
- Presto: An on-demand automated delivery platform that targets small and home-based businesses
- OTO: On-demand online platform that provides one-to-one live English courses through experienced tutors. With a track record of more than 5000 learners and 10 corporate deals, OTO satisfies a gap in the English courses market in both Egypt and the Middle East.
- Lendor: Online marketplace for peer-to-peer lending, borrowing and sharing. Lendor aims to connect individuals with common interests and helps them develop a more sustainable and circular economy.
- Vlaby: Educational platform and laboratory simulator that enables students and teachers to perform experiments and laboratory activities in an online environment. The edtech platform can be customised for students according to their desired curriculum.
- The Rent: Helps landlords manage their properties and enables tenants to pay their rent through a mobile app
- Nash2: Integrated online parenting platform aimed at the Arab world. The startup claims to be a one-stop-shop for educational toys and tools. It also provides premium curated content on its website and via its mobile app.
- Well.Fit.Go!: Personal weight loss coaching app that allows users to follow up with a personal nutrition doctor on how to transition to a healthy lifestyle through interactive coaching, daily tips and tasks
- Proteinea: Aims to replace fishmeal in aquaculture and animal feed with sustainable and more environmentally friendly insect-based protein. Proteinea uses traceable and recycled food such as fruits, vegetables and grains to feed the insects. It claims this environmentally responsible approach reduces the volume in landfills while delivering high-quality nutrients for animal and pet food.
- Youspital: Service provider to the healthcare diagnostics industry where it facilitates and automates customer acquisition, booking, onboarding and payment. The startup claims its innovative business model delivers up to 70% savings to end customers.
- Cyyann: B2C early-stage housing network that aims to help students and employees find and group with trustworthy roommates to share rent costs, rent apartments together and pay rent online. The startup is looking to launch its platform this Sunday (1 September).
Featured image: Members of Changelabs Egypt first cohort at an event in July (Changelabs via Facebook)
