Egyptian accelerator offers startups $63k in funding to help them survive COVID-19 crisis

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Egypt-based accelerator programme Falak Startups is offering up to EGP1 million (US$63,000) in direct investment, support and perks for startups to help them survive the COVID-19 crisis.

Falak Startups runs a six-month acceleration programme that offers entrepreneurs the tools, resources, and networks to develop their strategies and expand their businesses, as well as equity investment.

Prompted by the global COVID-19 crisis, and in a bid to help Egyptian startups continue to grow and survive the likely economic downturn caused by the outbreak, Falak Startups is offering companies access to investment and support outside of its normal cycles.

The opportunity is open to startups in the e-health, fintech, logistics, 3D printing, remote work and ed-tech fields, with Falak saying it was aiming to help talented and ambitious early-stage tech startup founders thrive in spite of the crisis.

Aside from the funding, Falak will provide startups with help in improving their product-market fit, finetuning their business, operating and revenue models, growing their customer base and raising follow-on investments.

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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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