Egypt’s Innoventures announces winners of Startup Reactor

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Egyptian early-stage startup investment platform Innoventures has announced the winners of the fourth cycle of its Startup Reactor programme, with a total of EUR15,000 (US$17,750) given to four promising startups by VC4A.

Innoventures is a platform for innovative early stage ventures, which facilitates and manages investments in startups specialising mainly in the fields of clean-tech, software, electronics, art and media, market intelligence and inclusive businesses.

It runs its Startup Reactor programme on a regular basis, with first place place in this edition going to Happiana, a startup that specialises in creating adaptable charging solutions that can charge any device, anywhere at anytime, with a goal of erasing the words “Battery Low” from existence. Their work secured them a EUR8,000 (US$9,500) cash prize.

Second place, and EUR4,000 (US$4,700), went to Bioniclimbs, a research and development based company for developing prosthetic limbs with a focus on high functionality, fast production and customization. Third place, and EUR2,000 (US$2,400), went to Agrona, a startup that offers new technology in chipboard manufacturing.

Finally, the popular vote prize went to the night’s crowd favourite, Imaginators, an online platform that helps people create interactive, customisable presentations. They secured a EUR1,000 (US$1,200) cash prize.

The other participating startups Tracktech, TechnoRecycle, Tomatiki, Nezaker, Ekacia, and Okhtub.

Innoventures also announced an upcoming EGP100 million (US$5.6 million) fund for startup ventures based in Egypt.

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Passionate about the vibrant tech startups scene in Africa, Tom can usually be found sniffing out the continent's most exciting new companies and entrepreneurs, funding rounds and any other developments within the growing ecosystem.

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