CAIRO: Egypt's newest start-up group, Flat6Labs, has graduated its first group of start-up tech businesses. Flat6Labs brings fresh ideas for start-ups though its own three-month mentorship and training process in which they develop their business plans, prototypes and management skills. It also provides the start-up with an $8,000-10,000 investment, with a future equity stake of 10-15 percent. All of the tech start-ups featured aid in different parts of Egyptian life. One project, Careerise, aims at garnering better job recruitment in Egypt, while another, Ekshed, helps patients book doctors appointments online or on their mobile devices. Flat6labs urges its start-up projects to scale regionally and globally. Careerise already has plans to expand into the Gulf. Now that the startups have been graduated from the Flat6Labs program, the projects must now secure funding. Flat6Labs was started by Egypt's venture capital firm Sawari Ventures, in partnership with the American University in Cairo (AUC). “We are enhancing and modifying our structure based on our findings from this cycle,” said a representative from the group. “We're planning to focus the training towards the beginning of the cycle rather than having it continue throughout the process. We're also looking to bring in more established entrepreneurs as mentors and speakers.” BM ShortURL: http://goo.gl/yuqPz Tags: Flat6Labs, Start ups Section: Business, Egypt, Tech
