Flat6labs, the MENA region’s leading seed and early-stage venture capital firm, has collaborated with SANAD Entrepreneurship Academy to launch an agritech accelerator programme aimed at assisting 10 to 12 startups in Egypt.
Investment is meant to improve the business models, product development, customer relationships, marketing plans, and financial management of the fast rising startups.
The collaboration marks the beginning of Flat6Labs’ mission to support emerging businesses in the agri-food, food security, and rural development sectors while highlighting the value of the agritech industry in Egypt.
The agri-tech program aims to give startups access to capital, to grow faster and efficiently, encouraging the development of technologies that make the agriculture industry sustainable, safe, and environmentally friendly.
These technologies optimize service quality in the agriculture industry, by facilitating data collection and analysis to quantify performances, while limiting overprice of products/services, reports Egypt Today.
‘’With digital transformation progressing rapidly across industries, and the agriculture industry being a core pillar of the Egyptian economy, the need to digitize the agriculture industry has increased dramatically.
“We are glad to launch this agritech accelerator program in collaboration with the SANAD Entrepreneurship Academy, as it will serve this need by supporting the startups that provide innovative technologies in the agriculture sector and will contribute to the sustainable growth of the Egyptian economy,” stated Hassan Mansi, Flat6Labs Head of Ecosystem Development Programs.
According to the executive, empowering and promoting Egypt’s Agri-digital sector would result in advancements in automated machinery and robotics, increasing the efficiency of agricultural productions by precisely locating nutrient availability, checking for diseases, predicting them, and many other useful facilities.
Kim Reichel, Chairperson of the SANAD Technical Assistance Facility Committee said, “We are very much looking forward to our cooperation with Flat6Labs as they have shown strong commitment to supporting innovative and technology-driven entrepreneurs across MENA.
“Together, we will create positive impact by providing targeted support and enabling business owners to thrive. We believe that focusing on the agricultural sector, and specifically agri-tech, is vital in these challenging times and will contribute to increased food security across the region.”
Flat6Labs Egypt and SANAD Entrepreneurship Academy have vowed to continue to support bright, passionate, and tech-driven entrepreneurs in Egypt, by providing funding, technical assistance, and networking opportunities across the country and beyond.
