ConTech Innovation Program to support new construction startups throughout Egypt
Flat6Labs, a seed and early-stage venture finance company with a focus on the MENA region has introduced Makers, a construction-tech innovation program that aims to foster construction industry innovation by connecting and interacting with several stakeholders with in-depth knowledge.
The Makers ConTech program was established in partnership with SIAC, a significant regional private construction business, and Dar-Al-Handasah (Dar), a major worldwide engineering consulting firm, with the goal of promoting entrepreneurs in Egypt that provide construction technology solutions.
The program consists of a pre-accelerator for firms in their early stages and an accelerator program with an investment component for startups in their later stages. Creating sustainable innovation ecosystems for construction-related issues within SIAC, Dar, and the industry at large are two goals of the pre-accelerator initiative, which also intends to connect and engage with numerous stakeholders with vast experience.
In its pre-accelerator stage, the Makers ConTech Innovation Programme will provide chosen businesses strategic mentoring, business training with an emphasis on entrepreneurship, individualized subject sessions, and a wide range of benefits and services from partners. The purpose of the pre-accelerator program is to assist entrepreneurs by assisting them in creating and presenting their creative ideas and solutions to SIAC and Dar, with the prospect of being chosen to execute a pilot program with both firms. Startups will be well-positioned to raise money after the program is over.
In order to increase the competitiveness and productivity of the construction industry, the pre-accelerator program also intends to shed light on the significance of the construction revolution and the use of new digital technologies in this industry. Advancing the environment of the construction sector toward one that is more technologically sophisticated, productive, and sustainable.
“A shift toward digitising construction solutions is becoming increasingly important in order to achieve safer and more productive results. Using robotics and data analytics to digitise construction processes for construction sites and industrial plants, data assembly, transactions, and city design, companies will be able to save labour costs, address labour shortages, and improve safety. We are excited to launch the Makers ConTech Innovation Programme in collaboration with SIAC and Dar-Al-Handasah with the goal of supporting, investing, and nurturing innovative, sustainable, and promising startups to drive the construction industry revolution,” said Albert Malaty, managing director of Flat6Labs Cairo.
