[Egypt] Cairo Angels joins forces with EG Bank to launch the mint incubator
Cairo Angels, Egypt’s first formal angel investors’ network has launched the Mint startup incubator, created in partnership with EG Bank. With an intense, highly competitive three-month incubation programme, the incubator is designed to accelerate the growth of product-ready startups who want to take their business to the next level - and here’s the catch: with no equity.
Promising to “support startups with no strings attached,” the incubator not only does not take equity, but also will not provide debt to the startups enrolled in the program.
The perks of the programme are more than appealing: the selected startups will count with tools to power their businesses, as well as office space at EG Bank’s co-working space, located in the heart of downtown Cairo.
“We have leveraged our know-how as active investors in startups to identify where startups need help and we have worked with EG Bank to bring in best in class partners, mentors and advisors to address these gaps head on,” says Cairo Angels’ Chairman Aly El Shalakany. “The programme is designed to give selected startups the best opportunity to accelerate their business and attract future funding,” he adds.
One of the country’s most active investment networks, Cairo Angels has been supporting early stage startups since 2012 - including Bosta, Orcas, and Elves - and is a founding member of MAIN, a network of the leading angel investment networks in the MENA region.
Now, their brand new incubator will not only harness their potential, but also connect them to relevant resources, facilitating networking sessions with key ecosystem stakeholders, including a demo day at the end of the incubation period, where entrepreneurs will get a chance to pitch their startups to the very best regional investors.
“Our motivation to launch MINT Incubator is to give startups access to the right tools to build great companies. Combining our resources with Cairo Angels, the programme will provide technical knowledge, expertise, networking opportunities and an inspiring environment to push selected startups to the next level,” says Suzanne Wardani, Head of Youth Banking at EG Bank.