Egypt-based accelerator and VC Flat6Labs, has selected 24 startups from Jordan, Lebanon and Iraq for its StartMashreq Growth Track programme, operating in different sectors including healthtech, e-commerce, and agritech, along with five startups co-founded by female entrepreneurs, operating in edtech, energy tech, and proptech.
The programme aims to help get access to new markets, scale their operations, provide more job opportunities and increase their impact on their respective economies.
“We are delighted to partner with Flat6Labs to support these promising startups from the Mashreq region, especially those founded by women,” said Abeer Shalan, Senior Operations Officer at the International Financial Corporation (IFC). “Mashreq startups can demonstrate resilience and innovation in the face of challenging circumstances and prove their ability to create value for their stakeholders by venturing into new markets. By providing them with funding and resources, we hope to help them reach their full potential and contribute to the development of the regional startup ecosystem.”
The startups have collectively generated a total annual recurring revenue of $20.8 million and have raised a total of $38.5 million while creating around 700 direct job opportunities across the three countries. The programme will help them raise $10 million collectively.
The startups collectively generate a total annual recurring revenue of $20.8 million and have raised a total of $38.5 million along with creating around 700 direct job opportunities across the three countries.
Ragia Amr, Program Director of StartMashreq at Flat6Labs, said: “We are very excited to welcome the 24 startups to our Growth Track programme. We have been impressed by the quality and diversity of the applications we received and we are confident that they have what it takes to succeed in their markets. Through our programme, we will offer them tailored support and guidance to help them overcome their challenges and achieve their goals. We look forward to working with them over the next six months and beyond.”
The StartMashreq Growth Track programme kicked off in June 2023 and will run until December 2024. The programme is part of StartMashreq’s broader vision to inspire and support displaced entrepreneurs, empower female-led startups in the Mashreq Region, create more investment-ready businesses, and integrate the regional startup ecosystem. This will be fulfilled through a myriad of activities, exposure, and legal support. The activities will include workshops and mentorship by international experts, business networking events, investor mixers, and participation in international events and roadshows.
The 24 startups, who joined StartMashreq’s Growth Track programme, are: Lebanon ,Compost Baladi,Ecomz,KamKalima, Moodfi,Presentail,Purpl ,Shelvz ,Iraq,KESK,Lezzoo,Midient/Padash,Orderii ,Toolmart ,Jordan,Algebra Intelligence,Arab Therapy,Dinarak,Hello World Kids,InvoiceQ,Jordilight,Konn Technologies,Little Thinking Minds,Nestrom,Palmear,Repzo,Shop4Me .