The Startup Reactor Startup Reactor has entered into the fifth cycle of
its six-month accelerator programme in Egypt and is currently seeking out
applications, reports ITRealms.
This, ITRealms, is coming on the heel of successful
conclusion of its 4th cycle with its last phase “Startup Nova –
Entrepreneurship Explosion.”
ITRealms also reports that Startup Reactor has been designed
to support innovative startups with high growth potential in Egypt.
The programme, according to the organisers, is a gateway to
connecting entrepreneurs, investors and mentors. Investors and mentors that
participate in the program receive an equity stake in the ventures which they
choose to support.
Further, ITRealms gathered that estimated 40 startups will qualify
for Ignition (Bootcamp stage) and will receive mentorship
and training, with up to 15 startups proceeding to Plasma stage.
Equally, throughout Plasma, the startups will undergo an
intensive training programme on developing their business model, prototypes,
brand identity and customer base. While the qualifying startups receive the
full programme’s package, which includes access to office space and facilities,
exclusive access to mentorship from a network of more than 200 business
professionals, consultation services, legal registration and advice, and
support services such as accounting, human resources (HR) and marketing.
In addition, ITRealms reports that the startups
will receive equity funding up to 300,000 EGP, with the chance to participate
in StartupNova; a demo day in front of local and international investors
where the top 3 startups receive cash prizes worth 15,000 Euros from Venture Capital for Africa (VC4A), with further
investment opportunities from Innoventures
and VC4A investor network.
Nonye Dom/GEE
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