The initiative aims to fuel the growth of startups in this niche sector, enhancing their ability to transform the construction industry through technology-driven solutions.
The accelerator programme, named the “Construction-Tech Innovation Accelerator,” is set to provide a unique platform for aspiring entrepreneurs in Egypt’s thriving startup ecosystem.
With construction being a critical sector in the country’s economy, the programme holds the potential to revolutionize traditional processes and bring forth disruptive advancements.
Startups selected for the accelerator will undergo an intensive mentoring and support program, gaining access to Flat6Labs’ extensive network of industry experts, seasoned mentors, and potential investors.
Additionally, the selected startups will receive seed funding to help kickstart their projects and translate their ideas into tangible products or services.
The programme is designed to cater to a wide range of construction-tech innovations, including but not limited to building information modeling (BIM), sustainable construction practices, smart cities solutions, modular construction, and real-time project management platforms.
Flat6Labs’ launch of the Construction-Tech Innovation Accelerator marks a significant step in fostering technological innovation within Egypt’s construction industry.
By providing startups with the resources, mentorship, and funding needed to propel their ideas forward, this accelerator programme has the potential to reshape how construction is approached and executed in the country.
The Sustainable Energy Fund for Africa (SEFA), a trust fund administered by the African Development Bank, has pledged $8 million as part of a broader $26.5 million financing arrangement for the 32-megawatt-peak (MWp) Ilute Solar Project in Zambia.
Swiss development finance institution, SIFEM, has committed $15 million to the first close of Ninety One’s Africa Credit Opportunities Fund 3, which targets a total fundraising of $500 million.
Naked, a South African insurtech company, has successfully raised $38 million in a Series B2 funding round.
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