Driven by a commitment to fostering entrepreneurship and innovation, the Egyptian government, through the Ministry of International Cooperation, established Falak Startups. This accelerator actively empowers ambitious technology-focused entrepreneurs, nurturing their growth and propelling the nation's tech ecosystem.
Falak Startups is an accelerator established in 2018 by the Egyptian Ministry of International Cooperation and its venture capital agency, Egypt Ventures. Currently led by Ahmed Hazem Dakroury, an experienced investment professional, it strives to identify and nurture talented entrepreneurs, fostering their growth within the Middle East and African entrepreneurial landscape.
Dedicated to supporting diverse ventures, Falak Startups provides two distinct tracks for startups: a general track for technology-focused ventures and a fintech track –supported by EFGEV– designed specifically for startups operating in the financial technology sector.
The tracks offer selected companies tailored support, including workshops, mentoring, training, market opportunities, and exclusive access to Falak Startups’ virtual platform, Virtual Stage. This platform facilitates connections between startups and potential investors, policymakers, private sector players, and institutional partners.
In addition to its accelerator programs, Falak Startups has initiated a venture capital investment program to fund startups with up to EGP 2 million (approximately $65,000) each. This program extends financial support to startups seeking additional funding from various sources.
Since its inception, Falak Startups has successfully accelerated numerous emerging ventures across diverse sectors, including energy, digital health, online education, e-commerce, and logistics. Notable companies that have benefited from Falak Startups' support include Presto, an automated on-demand delivery system; Mayday, a real-time roadside assistance provider for motorists; Rabbit, a clean transportation company offering electric scooters for rent by the minute; and the e-commerce platform WXYZ.
Melchior Koba
