Thanks to the programme, Misr El Kheir Foundation gives startups in early stages (first incubation circle), more mature startups with a capacity to develop their products during the 6-month incubation period (second incubation cycle), and startups ready to commercialise (third incubation cycle), the opportunity to use their skills to tackle Egyptian social challenges.
At the GESR demo day last year, startups presented innovative solutions they developed during 6 months of GESR’s second incubation circle, revamping sugarcane, shrimp and solar energy industry in Egypt:
- Crina - automates processes in palm tree production;
- Re-Shrimp – extracts chitosan (found in shrimps cells) for use in anti-bacterial crops;
- Bermouda – develops high-quality eco-friendly fertilizers;
- Green Light – harnesses solar energy in rural and remote areas;
- Sun City – develops mobile solar pumping systems for surface water irrigation;
- Zazoua – develops machines used for efficient sugarcane production and waste reduction.
To develop their innovative solutions, the startups received 150,000 EGP (~7000 EUR) in seed funding. They also had the opportunity to benefit from training, mentoring, networking and access to office facilities. They had the chance to prototype their products at GESR’s Social Innovation Lab, and meet potential investors using GESR’s Social Impact Network.
As an EU|BIC, Misr Kheir Foundation through GESR is commited to providing the highest-quality mentorship and support to entrepreneurs. As Egypt is facing many societal challenges, nurturing and supporting innovation and entrepreneurship in the region is of crucial importance.
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