Two Egyptian startups have secured a share of EGP2 million (US$120,000) in grant funding at a demo day that concluded the impact-focused Changelabs accelerator programme.
Disrupt Africa reported last month 10 Egyptian startups had been selected for the first Changelabs programme, run in partnership with Egypt’s Ministry of Investment and International Cooperation, Blom Bank Egypt, Amazon and the Entrepreneurship Academy by SANAD.
Upon graduation from the six-week programme, which provided training, mentorship and support, the 10 startups pitched at a demo day for a share of EGP2 million (US$120,000) in grant funding.
The winning startups were insect farming startup Proteinea, which went home with EGP1.5 million (US$90,000), and e-health startup Youspital, which secured EGP500,000 (US$30,000).
“We believe entrepreneurship can change the world. The 10 startups we’ve chosen here in Cairo are the embodiment of that vision, as they represent brilliant Egyptian youth becoming part of the solution, taking responsibility for their own and their country’s future,” said Changelabs founder Karim Samra.
