Falak Startups, in partnership with EFG-EV Fintech, announced its official launch to the regional entrepreneurial and investor community through an inaugural Demo Day sponsored by the SANAD Fund for MSME. Fifteen high-growth startups from thirteen governorates presented their refined business models, in an effort to secure funding from Egyptian and regional investors.
Falak (largest startup accelerator in the Middle East and Africa) organized 4-month acceleration program provides entrepreneurs with funding, mentorship, training, and comprehensive all-round support, in order for Egyptian youth to thrive and compete in the global economy.
“Entrepreneurial success, especially within our young demographic, creates positive spillover effects throughout the entire economy, supports our goal to achieve wider financial inclusion and boosts job creation on the macroeconomic level. It is an essential component in creating a sustainable engine for long-term economic growth.” Said Dr. Sahar Nasr, Minister of
Investment and International Cooperation.
Dr. Shehab Marzban, Chairman of Egypt Ventures and Senior Advisor to the Minister of Investment and International Cooperation also added: “We’re very proud to see our youth develop strong business cases out of mere ideas they came to us with only months ago. Falak Startups will serve as a platform from which we aim to launch numerous acceleration programs, spanning across multiple sector industries. The feedback received today was tremendously positive, and is a strong reflection of the private sector’s support of our mission, as they are key partners in this journey to establish a dynamic, globally-competitive ecosystem”
The event took place at the Golden Room Hall in Prince Mohamed Ali (Manial) Palace, and was attended by y Dr Sahar Nasr, Minister of Investment and international Cooperation, Dr Ali ELMoselhy, Minister of Supply, Dr Rania Al Mashat, Minister of Tourism, Khaled Badawi, Minister of Public Enterprise, Dr Shehab Marzban, Senior Advisor to the Minister of Investment and International cooperation and Chairman of Egypt Ventures, Mohamed Fareed, Executive Chairman at the Egyptian Stock Exchange, General Mohamed Amin, Treasurer of the ‘Tahya Masr’ Fund, MP Amr Ghalab, Chairman of the Economic Committee of the House of Representatives, as well as numerous foreign dignitaries, prominent businessmen and investors, and entrepreneurs.
Some of the startups that participated in the event were Pay Nas, Auto Parts, Masry Market, 3elagi and Olli.