Egyptian startup incubator Innoventures has selected 11 startups to join the third cohort of its Startup Reactor accelerator, with the top three graduates of the programme to secure seed funding and up to EUR10,000 (US$10,955) in prizes.
Disrupt Africa reported in June applications opened to the Innoventures Startup Reactor accelerator, seeking Egypt’s most innovative and financially promising startups for the immersive five-month programme.
During the accelerator, the startups will follow a training and mentoring programme, as they develop their business model, prototype, brand and customer base. They will also have access to office space, support services, and resources for financial, legal and branding aspects.
At the end of the programme, the startups will participate in a Startup Showcase, where they will pitch to an audience of investors, potential partners and customers.
The top three startups will receive seed funding, and up to EUR10,000 (US$10,955) in prizes; with funds provided by Innoventures’ partners VC4Africa and Oxfam Novib, under the Work in Progress! Alliance.
The 11 selected startups include backend-development solution Quanode; social platform for charities Insanya; online travel portal Hezaha W Safer; waste management technology provider Zerowaste Technologies; online B2B platform Utmost; and virtual reality company Panda VR.
Also selected for the programme are virtual reality movie startup Cinema 360; home-cooked food delivery platform ZaMeal; customer complaints solution Perligos; hotel platform Onyx Rooms; and car interior accessory manufacturer AlGaith.