Applications open for Innoventures Startup Reactor in Egypt
Egyptian startup accelerator and fund Innoventures has opened applications for the fourth cycle of its Startup Reactor programme, which will provide participating companies with EGP300,000 (US$18,500) in funding as well as training and mentorship.
Innoventures is running the six-month programme, for which applications are open here until April 1, in partnership with VC4A on the back of a successful third cycle and the launch of its EGP30 million (US$1.6 million) venture capital fund.
Startup Reactor is designed to support innovative startups operating in several high-opportunity industries in Egypt by creating an environment that connects entrepreneurs, investors and mentors. Participating investors and mentors will receive an equity stake in the ventures which they choose to support.
Selected startups will follow an immersive training program as they focus on developing their business model, prototype, brand and customer base. Each startup will be assigned a dedicated mentor from a network of more than 200 business professionals. The programme offers a wide range of additional benefits apart from funding, including office space and legal support with company registration.
This year, Innoventures is introducing three separate tracks. The Main Track is open to startups from any industry, but Startup Reactor will also include a specialised Media Track powered by JuiceLabs, which covers media, advertising, analytics, content platform, content creation automation, e-commerce, talent management, and influencer management.
An E-waste Track, powered by SRI and CleanTech Arabia, is designed for startups that recycle electronic waste.