About Falak Startups
Application Description
Our mission is to find and empower talented and ambitious early-stage tech startup founders and help them thrive in the region’s rapidly changing entrepreneurship landscape. Our sector-agnostic program focuses on improving startups’ product-market fit, finetuning their business, operating and revenue models, growing their customer base and raising follow-on investments. Through our renowned 6-month acceleration program we arm entrepreneurs with the necessary tools, resources, and networks to develop their strategies and expand their businesses. Our program entails equity investment, growth hacking, networking, mentorship, trainings, and a wide variety of perks and benefits. Each cycle culminates in a Demo Day, where founders showcase their startups to potential investors, policy makers, stakeholders, and partners. Our support does not end on Demo Day as we continue to back our portfolio companies throughout their journey. Falak Startups’ new maximum investment size of 1,000,000 EGP is unrivaled and provides the leverage startups need to gain momentum and accelerate their growth, whilst we work together on securing follow-on investments from venture capital firms, angel investors, and corporates. Although Falak Startups is industry agnostic and focuses on tech-enabled and scalable startups, we have an additional focused track that specializes on Financial Technology powered by EFGEV. We also foster sub-tracks that are sector specific with the support of key industry partners. Our accelerated startups reside in our fully-equipped state of the art, 700m2 office, in the heart of Downtown Cairo, that meets all their office space needs during the program. ___________________________________________________________________________________________________ What we are looking for: Strong Team We want to invest in startups with a cross functional star team and a minimum of two co-founders. Ideally, we are looking for diverse expertise, skillsets that compliment each other and technical experience. Solves a problem The product or service should solve a problem/address a need for a specific target customer (a gap in the market). MVP stage It is important for us to at least see a functional MVP before investing. Proof of customer usage is a plus. Measurable traction We need to see real, genuine traction and not vanity metrics. For example, active users, revenue, attractive unit economics. Tech-enabled product/service We want to invest in companies that are reliant on technology to drive change and growth, a user of innovative technology. Scalability We want to invest in companies that have potential to grow and therefore we need to see proof of ability to scale. For example, you should be able to prove there is a large enough market for your product/service (a market in the gap).
Preferred Development Stages
Preferred Geographical Focus
The deadline for this application has passed. Check your application status, or search for more funding applications.
Difficulty applying? Contact us at info@magnitt.com