Turning disruptive ideas into profitable start-ups, Egypt’s leading impact-centered startup accelerator, Changelabs kicked off its second cohort on Sunday 19th July, 2020 with an Energy and an Impact track. Delivering on a promise of sustainability, positive change and inclusion, 10 Egyptian-based social impact startups and another 5 energy-focused startups have joined the Changelabs accelerator program in partnership with The Green for Growth Fund, Amazon web Services and The Dutch Development Bank (FMO).
The 8-week accelerator program is designed to shape ideas into viable businesses that bring change to the Egyptian ecosystem following the country’s 2030 vision for sustainable development. During the program, the 15 startups will benefit from unparalleled access to a network of global mentors, world-class experts, wide-reaching investors, partners, customers, and up to LE 1.5 million in funding.
“We believe entrepreneurship can change the world. This year in Egypt we’ve partnered with GGF (the Green for Growth Fund), Amazon, and the Dutch Development Bank to accelerate top Green Energy and Impact startups, connect them with world-class mentors and experts and jumpstart their entrepreneurial journey. We invested LE2MN in startups after last year’s Cohort I and are excited to work with the 15 shortlisted Egyptian startups this year” shared Karim Samra, the co-founder of Changelabs.
The key advantage of this accelerator is the focus on early-stage startups, unparalleled access to a global network and community, regular and consistent opportunities to pitch before and interact with investors, and a seasoned team of entrepreneurs always ready to help. The program will give youth the necessary training and skills to succeed, even with no prior education and help combat brain drain and keep Egypt’s youth in Egypt!
“Today, more than ever, entrepreneurship is becoming one of the most sought out ways to turn MENA’s challenges into profitable opportunities. Our 2nd Cohort in Egypt is set to help the local startups do just that with now two accelerator tracks; Impact and Energy”. says Jamal Khayyat, Changelabs Co-founder and Managing Partner. Jamal also added that he’s very excited to onboard a new partner this year; the Green for Growth Fund, that’s funded by DeutscheBank and the IFC amongst others to launch the brand new Energy track in Egypt.
Changelabs has been turning ideas into startups, with programs in Boston, London, Beirut and Osaka, engaging youth around the world and bringing them back into the conversation. It has also recently focused its efforts on the MENA region and helped launch exciting startups like Youspital, Presto, Protienea, OTO Courses and Askova in Egypt.
The program launches with a Kickoff event where the 15 selected startups were announced:
Araza2 – Baramoda – BirdNest – Praxilabs – Dayra – DomDom – El-Dokan – Hospitalia – Mawelny – Square Corner
Vesstoss – Delta Oil – Dizaria – SSV – Hand Over