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ICT4D Week 2018

Wednesday, January 10, 2018

Startup Reactor enters 5th cycle towards ‘Nova Explosion

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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