Changelabs launches green accelerator in Egypt

Apr 15 2021

Changelabs, leading accelerator in the Middle East, launched its new “Scale Up To Green” accelerator program targeting top Egyptian resource efficiency, green energy, and agritech companies.

The program is being launched in partnership with the Green for Growth Fund (GGF), which is an investment fund worth over €400m supported by the IMF, Deutsche Bank, and other leading organisations. It will serve to help GGF identify potential portfolio companies.

The program will also count the European Union’s (EU) EU4Energy initiative, Amazon Web Services (AWS), and MINT by EGBank as partners. This accelerator will offer small- and medium-sized enterprises (SMEs) and scale ups unparalleled access to the resources they need to scale, and acquire more customers. It also aims to help build the right long term partnerships, and raise additional rounds of funding.

The program will admit and work closely with 15 leading Egyptian post-revenue scale-ups by mid-2021. Each admitted startup will be considered for investment by GGF, whose ticket sizes can reach up to €1m, and gain access to technology and design services, and product build-out support.

Source: WAMDA