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Changelabs backs 13 startups offering eco-friendly, innovative solutions
Changelabs – the impact- centered startup accelerator program running in partnership with Green for Growth Fund, Amazon Web Services, and FMO the Dutch entrepreneurial development bank (FMO) – proudly announced the graduation of 13 startups selected among the best eco-friendly entrepreneurship in Egypt.
The 13 start-ups – which have successfully completed a six-week accelerator program – managed to provide innovative and affordable solutions that would serve sustainability in line with the Egyptian government strategy which aims to realize sustainable development at the national and regional levels.
Changelabs co-founder Karim Samra, commented during the Demo Day, “Changelabs was keen to continue promoting startups and organizing the event this year despite of the coronavirus repercussions due to its belief in the role of youths in boosting national economy. This was the best way to express gratitude to the ambitious Egyptian youths who are vital for reshaping the country’s future.”
Five out of the 13 selected startups this year tackled issues of green energy, offering a wide range of solutions for green energy production like recycling cooking oil, green energy access by providing electric vehicle charging services, and green energy buildings offering green design while delivering energy efficient, cost-effective, and environment-friendly building solutions.
Jamal Khayat, Changelabs Co-Founder, said: “Our 2nd Cohort Demo Day came following a rigorous journey of training sessions and meetings and one on one support with the social startups. This ensures that they get the most out of the program and that their selection was the right choice.”.
The program provided more than 100 hours of training, 200 hours of one on one mentorship sessions with engagements from more than 50 experts and mentors to support the 13 selected innovative startups, helping turn their ideas into investment-ready businesses.
Startups pitched for up to 150,000 dollars in funding on September 30th in Cairo at the Demo Day that took place online, in line with the new norm of virtual events with an aim to keep the community safe while delivering on Changelabs’ promise of support of the entrepreneurial ecosystem.
Walid Hasouna CEO of EFG Finance attended the graduation ceremony alongside Loay El Shawarby Legal Advisor & Co-Founder at Alex Angels, Jeroen Harteveled Fund Manager at MASSIF, Jean-Noel Odier Senior Operating Partner at Bamboo Capital Partners, Aly El Shalakany Chairman of Cairo Angels, and Mohamed Morsy Country Head of Finance in Motion(Egypt) .
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