Egyptian accelerator and fund Innoventures has announced the 11 startups selected to progress to the third stage of its Startup Reactor programme, with the top companies to secure up to EGP300,000 (US$17,000) in seed funding and progress to the final stage of the accelerator.
Disrupt Africa reported Innoventures launched the fourth cycle of its multi-staged Startup Reactor programme in March, seeking innovative companies across various high-opportunity industries within Egypt.
The organisation announced the programme would be run in collaboration with VC4Africa and JuiceLabs, and divided into three tracks: the Main track, the Media track, and the E-waste track – hosted in partnership with SRI and CleanTech Arabia.
39 startups were selected to participate in the first two phases of the programme – an immersive six-week training workshop.
11 startups were shortlisted to progress further onto the third stage of the accelerator – dubbed “Plasma” – during which participants receive full startup-support benefits provided by Innoventures, including office space, legal company registration, branding, mentoring, and in-depth sessions about how to build a company, in addition to seed funding of up to SGP300,000 (US$17,000) for the more advanced startups.
The 11-strong cohort will continue to work with Innoventures and its partners, with the fourth and final stage of the programme – an investor Demo Day nick-named “Nova” – set for December.
The 11 startups chosen for the accelerator are Tomatiki, which creates smart agriculture products; online portfolio platform Imaginators; food ordering mobile app Hanorder; prosthetic limbs startup Bionic Limbs; and video-based parenting platform Nezaker.
The cohort is completed by particleboard manufacturer Agrona; Okhtub – an intelligent matchmaking platform; Smart Safe Solutions, which focuses on upgrading industrial production lines; adaptable charging solution Happiana; e-waste collection and recycling platforms E-kacia and Technorecycle.