Flat 6 Labs
Not a lot of people know this, but us internet companies don’t live in a magical world of rainbows and hard drives. To keep all these lovely web sites going takes money...
Often when you have an original idea and try and find an investor to fund you, they will ask you if there is a similar thing in the market, and if so how much does it make. If your response is this is a BRAND NEW idea they will often react to your advances as if you had leprosy.
In other countries there are many ways to get support, not just for leprosy but also for tech entrepreneurs who believe they have created the next Facetweet. And now Egypt also has something other than the Pyramids to be proud of and that’s Flat6Labs.
What is it and why should I care you ask?
“Flat6Labs hosts teams for a three-month cycle and gives them access to the facilities, expertise, mentorship, and support needed to make the most of their own talent. Selected teams are provided with seed funding in the range of EGP 60,000-75,000 as they attempt to define their product, develop their core application, construct a well-balanced business plan, and commercialize their enterprise. In exchange for 10-15% stake of equity in their projects, these teams are given the chance to face the real-world challenges and obstacles of creating and maintaining a startup in the local and global market. At the same time, they have the support needed to push them even further into the realm of entrepreneurship. This support comes from more than one source, whether from the staff at Flat6Labs, from professional speakers who come in for sessions, or from each team’s mentor, who are matched with the team by Flat6Labs. Their solid interactive program has one aim in the end: to create an independent, successful company led by a team capable of making informed decisions. At the end of the three month period, Flat6Labs holds a Demo Day event, where teams are given the opportunity to showcase their products to potential investors and the media. If any of the teams have been successful in their bid to establish a fully furnished enterprise with promising market potential, they will graduate from Flat6Labs and receive additional funding to establish their enterprise.”
So if you believe you have the idea for the next googlebay or applesoft check out www.flat6labs.com
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