{"id":645131,"date":"2017-07-12T04:16:52","date_gmt":"2017-07-12T04:16:52","guid":{"rendered":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/flat6labs-has-made-its-first-closing-on-its-egp-100-mn-fund\/"},"modified":"2017-07-12T04:16:52","modified_gmt":"2017-07-12T04:16:52","slug":"flat6labs-has-made-its-first-closing-on-its-egp-100-mn-fund","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/flat6labs-has-made-its-first-closing-on-its-egp-100-mn-fund\/","title":{"rendered":"Flat6Labs has made its first closing on its EGP 100 mn fund"},"content":{"rendered":"

<\/a> Flat6Labs has made its first closing on its EGP 100 mn Flat6Labs Accelerator Company (FAC) fund, <\/strong>which will allow it to accelerate more than 100 Egyptian early stage startups over the next five years, the company said in a statement<\/a>. The fund will provide each startup with EGP 1 mn in seed funding, in addition to training and mentorship services. FAC\u2019s first closing comes as Egypt Ventures signed an agreement to invest EGP 10 mn in Flat6Labs<\/strong>. \u201cToday\u2019s announcement marks a significant step forward for Egyptian entrepreneurs and startups and we\u2019re thrilled to be spearheading it with our flagship accelerator program in Cairo,\u201d Flat6Labs founder Ahmed El Alfi said. Investment and International Cooperation Minister Sahar Nasr signed the agreement with Flat6Labs, Egypt Ventures, and NI Capital, the ministry announced yesterday<\/a>. The agreement is in cooperation with the Egyptian American Enterprise Fund and the International Finance Corporation.<\/p>\n

Separately, Egypt Ventures wants to increase its capital to EGP 1 bn from EGP 451 mn<\/strong>, according to Deputy Investment and International Cooperation Shehab Marzban who is also the company\u2019s CEO. Egypt Ventures<\/a> was established by the ministry, the Saudi Fund for Development, and NI Capital last March.<\/p>\n","protected":false},"excerpt":{"rendered":"

Flat6Labs has made its first closing on its EGP 100 mn Flat6Labs Accelerator Company (FAC) fund, which will allow it to accelerate more than 100 Egyptian early stage startups over the next five years, the company said in a statement. The fund will provide each startup with EGP 1 mn in seed funding, in addition […]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"single-feature.php","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[8572],"tags":[72,2380],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-645131","post","type-post","status-publish","format-standard","hentry","category-speed-round","tag-enterpriseam","tag-speed-round","wpautop","entry"],"acf":{"mongo_id":"72a212c9-55ab-4cd2-bd60-3c30ab67d956","order":"0","is_powered_by":true,"section_story_id":"ab2e0559-a55f-4ced-bca1-fbeffb04bf6b","story_type":"1","photo_url":"","photo_position":"above","related_issue":[645111],"teaser":"","voice_url":""},"yoast_head":"\nFlat6Labs has made its first closing on its EGP 100 mn fund - EnterpriseAM Egypt<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/enterpriseam.com\/egypt\/2017\/07\/12\/flat6labs-has-made-its-first-closing-on-its-egp-100-mn-fund\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Flat6Labs has made its first closing on its EGP 100 mn fund\" \/>\n<meta property=\"og:description\" content=\"Flat6Labs has made its first closing on its EGP 100 mn Flat6Labs Accelerator Company (FAC) fund, which will allow it to accelerate more than 100 Egyptian early stage startups over the next five years, the company said in a statement. 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The fund aims to invest in 75 Tunisian early-startups in a five-year period.The fund was launched in 2017 in\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/2021\/9\/377.jpg?fit=%2C&ssl=1&resize=350%2C200","width":350,"height":200},"classes":[]},{"id":560798,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/14\/nowpay-joins-us-accelerator-y-combinators-winter-2021-cycle\/","url_meta":{"origin":645131,"position":3},"title":"NowPay joins US accelerator Y Combinator\u2019s winter 2021 cycle","author":"enterpriseam admin","date":"14 March 2021","format":false,"excerpt":"Egyptian fintech startup NowPay has joined US startup accelerator YCombinator\u2019s Winter 2021 funding cycle, Digital Boom reports. The startup will receive USD 125k as well as three months of intensive mentoring, culminating in a demo day to an audience of potential investors and collaborators.The payroll management company was created by\u2026","rel":"","context":"In "Startup watch"","block_context":{"text":"Startup watch","link":"https:\/\/enterpriseam.com\/egypt\/category\/companies\/startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":631901,"url":"https:\/\/enterpriseam.com\/egypt\/2018\/03\/29\/flat6labs-plans-to-reach-second-financial-close-on-egp-100-mn-fund-this-year\/","url_meta":{"origin":645131,"position":4},"title":"Flat6Labs plans to reach second financial close on EGP 100 mn fund this year","author":"enterpriseam admin","date":"29 March 2018","format":false,"excerpt":"Flat6Labs is planning to close on its EGP 100 mn Flat6Labs Accelerator Company (FAC) fund by year\u2019s end, which will allow it to accelerate more than 100 Egyptian early stage startups over the next five years, says Managing Partner Marie-Therese Fam. The fund had reached its first EGP 50 mn\u2026","rel":"","context":"In "Other Business News of Note"","block_context":{"text":"Other Business News of Note","link":"https:\/\/enterpriseam.com\/egypt\/category\/other-business-news-of-note\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]},{"id":565295,"url":"https:\/\/enterpriseam.com\/egypt\/2021\/03\/31\/regional-startups-have-32-mn-reasons-to-be-happy\/","url_meta":{"origin":645131,"position":5},"title":"Regional startups have 32 mn reasons to be happy","author":"enterpriseam admin","date":"31 March 2021","format":false,"excerpt":"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\u2019s venture platform DisruptAD, the two\u2026","rel":"","context":"In "SPEED ROUND: STARTUP WATCH"","block_context":{"text":"SPEED ROUND: STARTUP WATCH","link":"https:\/\/enterpriseam.com\/egypt\/category\/speed-round-startup-watch\/"},"img":{"alt_text":"","src":"https:\/\/i0.wp.com\/ent.news\/internal\/536550.png?resize=350%2C200&ssl=1","width":350,"height":200},"classes":[]}],"_links":{"self":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645131","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/comments?post=645131"}],"version-history":[{"count":0,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/posts\/645131\/revisions"}],"acf:post":[{"embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/issue\/645111"}],"wp:attachment":[{"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/media?parent=645131"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/categories?post=645131"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/tags?post=645131"},{"taxonomy":"brand","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/brand?post=645131"},{"taxonomy":"newspack_spnsrs_tax","embeddable":true,"href":"https:\/\/enterpriseam.com\/egypt\/wp-json\/wp\/v2\/newspack_spnsrs_tax?post=645131"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}