A total of 11 Egyptian startups were selected by Innoventures’ Startup Reactor Accelerator as the most innovative and financially promising ideas after securing the highest scores from a jury of investors, industry experts and mentors. This accelerator is a partnership between VC4Africa and Innoventures, as part of the Work in Progress! program.
The startups encompass various industries such as waste management, ICT, virtual reality and tourism. The teams went through an intensive one-month training, and had to pitch in front of the representative committee which assessed them on innovation, team commitment, scalability of the business model, market size potential, progress to date and degree of support they require. Furthermore, team dynamics, attendance and dedication throughout the month were also decisive factors in an extremely competitive Pitch Day.
The startups below are part of the 2016 Startup Reactor:
Quanode – Creating behaviours product helps startups who want to develop well crafted backend by reducing time and cost through simple steps without the hassle of hiring developers.
Insanyah – A social platform to revolutionize charity connecting people with millions of charitable organizations.
Tripdizer – Travel experts provide advice and recommendations via a one-stop-shop web-portal that allows users to quickly and comfortably arrange their ideal travel experience.
Zerowaste Technologies – Developing simple and effective technologies to save natural resources, through waste management, water saving, and energy consumption reduction.
Utmost – A web B2B platform where users can exchange their services without cash. Utmost aims to build a cashless economy for SMEs where they can sell their services for points.
Panda VR – Creating stunning hardware solutions for Virtual Reality. The work has resulted in disruptive input/output controllers based on the latest technologies.
Cinema 360 – Cinema 360 doesn’t have a screen with seats. Instead, viewers sit in swivel chairs and put on a VR headsets so they can see the VR movie in 360 degrees.
ZaMeal – Packaging and deliver meals from home-based cooks to office workers who are seeking oriental, healthy and delicious meals instead of the regular junk food alternative.
Perligos – Solving customer complaints by connecting them to the right people in the business who can solve them.
Onyx Rooms – A network of hotel rooms in Egypt, offering standardized stay experiences at an unmatched price through partnering with budgeted hotels.
- AlGaith – Involved in manufacturing interior car accessories, the company is committed to providing innovative quality and fashionable products.
They received the full acceleration benefits including office facilities, committed mentors and supporting services such as legal, accounting, marketing as well as in immersive adaptive training program, whilst they focus on developing their business model, prototype, brand and customer base. This will take place until the end of the year. The ecosystem is heavily engaged, with mentors and investors providing constant feedback to the startups. They are also receiving an equity stake in the ventures that they are choosing to support. Startup Reactor also allows and encourages various partnership capabilities with the entrepreneurship community, and those who support it, NGOs, private companies or otherwise.
In the last phase of Startup Reactor in December, all eleven startups will pitch in the final Nova event, in front of an audience of investors, mentors, potential partners and customers, before getting a chance to pitch again at RiseUp Summit. The top three will receive seed funding as well as cash prizes up to 5,000 Euros powered by VC4A.
Startup Reactor is a 5-month program aimed at supporting and accelerating startups in Egypt with a high potential for accelerated growth. More than 25 startups qualified for Ignition (the bootcamp). Then 11 startups have now qualified to Plasma, where they received the full accelerator benefits package. The top 3 startups will receive 10,000 Euros worth of cash prizes and investment opportunities from Innoventures and VC4Africa.