Regional startups have 32 mn reasons to be happy

Flat6Labs has launched a new fund in Abu Dhabi in partnership with ADQ: Sixty regional startups will receive USD 32 mn in funding over the course of three years through Flat6Labs Ignite, a new Abu Dhabi-based startup accelerator launched by Egyptian incubator Flat6Labs and ADQ’s venture platform DisruptAD, the two announced in a press release (pdf). Twenty startups will receive funding each year, and will be able to receive a seed investment of USD 150k, as well as a follow-on investment of up to USD 545k. Applications for the first cycle will be open until 30th of April 2021.