Arabian Cement Company (ACC) partners with Nahdet El Mahrousa (NM) for the 3rd time, to launch “Khaleeha Suessi”, an incubation program focused on supporting social entrepreneurs tackling local economic challenges and opportunities in Suez.
The program is designed to accelerate the growth of prototype-ready startups that are looking to take their business to the next level and enable them to get to market quicker. Khaleeha Suessi will provide the selected startups with funding, up to 120,000 EGP, as well as the necessary resources and tools required to develop their businesses.
The program is divided into two phases: a one month Validation phase and an Incubation Journey.
The Validation Phase:
15 startups will be shortlisted, based on the quality of their application, to take part in the Validation phase - the pre-incubation part of the program. During this period, the team members will be invited to participate in an intensive bootcamp which will help them to validate their idea and refine their models prior to joining the incubator.
At the end of the phase, up to 7 teams will be selected to continue their journey and go through the Incubation phase.
Winning startups will receive tailored support and seed funding for 1 year enabling them and their ventures to grow.
The incubated social enterprises will receive:
· Seed funding up to 120,000 EGP
· A tailored capacity building program based on the needs of each startup.
· Access to mentors and consultants in a range of domains.
· Access to networking opportunities.
· Financial and Legal consultations all over the year
· Access to office space at Garage El Mahrousa, the coworking space of Nahdet El Mahrousa in downtown Cairo.
· Startups will be followed by a dedicated team of startups support managers.
· ACC and NM will also organize a demo day b y the end of the incubation period where entrepreneurs will pitch their ideas to key ecosystem stakeholders including partners, mentors, investors and advisors, etc.
· The program is fully funded by ACC, EQUITY and SHARES are not acquired.
Requirements to apply:
Profile of the social startup:
· Social businesses could be in any field as long as it has social and/or environmental impact.
· Have a Minimum Viable Product (MVP) that was tested on early customers.
· Stage of the Development of the startup: Piloting
· Scalable business model: we will take into account the potential for growth of the business, both financially and in terms of its social/environmental impact.
Profile of the team:
· Team must be currently based in Suez or willing to operate from Suez while developing their venture
· At least two founders in the startup with a balance between technical and business skills. (Diverse set of skills to complement each other)
· Age between 23 -40 years
How to apply:
2018 at 11:59 PM. (priority will be given to early applications)
· Your application will go through the initial screening process and the shortlisted applications will be accepted for the Validation phase.
· After completion of the Validation phase, the startups will be invited to pitch their idea in front of a panel
· If selected, the entrepreneurs will get access to seed funding and all incubation services provided.
Want to know more?
Join us in the program’s info sessions in Suez on 17th July 2018 and we will answer all your inquiries.
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If you have any questions, contact us at:
- Email: firstname.lastname@example.org
- Facebook: https://www.facebook.com/nahdetelmahrousa/
For more details about the donor of Khaleeha Suessi:
Please visit the website of Arabian Cement Company (ACC): http://www.arabiancement.com/