African Cleantech Startups can apply for Changelabs Accelerator Program

African Cleantech Startups can apply for Changelabs Accelerator Program

Egyptian and African Cleantech startups have been invited to apply for the Middle Eastern accelerator Changelabs has opened applications to its Scale-Up to Green program. The program is being launched in partnership with the European Union’s EU4Energy initiative, Amazon Web Services (AWS), MINT by EGBank, and the Green for Growth Fund (GGF) which is an investment fund supported by the likes of IMF and Deutsche Bank.

The program is targeted at Egyptian resource efficiency, green energy, and Agri-tech companies, offering small- and medium-sized enterprises (SMEs) and scale-ups access to the resources they need to scale and acquire more customers.

The Changelabs accelerator program will see fifteen post-revenue Egyptian startups admitted by mid-2021, and each startup will be considered for investment by GGF, whose ticket sizes can reach up to EUR1 million (US$1.2 million), and gain access to technology and design services, and product build-out support.

According to Karim Samra, the chief executive officer (CEO) and founder of Changelabs, although the Egyptian ecosystem is robust with accelerator and venture capitalist firms everywhere, there’s a huge gap in the scale-up and operating segments of the startup support menu and this is the gap that Changelabs intends to close by bringing the right stakeholders to fill the gap in Egypt and beyond, prioritizing organic farming, clean energy, efficient buildings, agriculture, and access to water.

The application for the program runs through the second quarter of 2021, interested startups can click here to apply.