INJAZ Egypt has launched its retailored startup programme. The new improved programme, according to a press release, ensures that only the passionate, hardworking, and creative young entrepreneurs can successfully launch their businesses in a nurtured entrepreneurial environment.
The statement noted that the new pipeline is being conducted in two phases. The first phase is a pre-incubation one, where 50 teams go through intense trainings, including business modeling and product/service development for a period of five months. Throughout this phase, the teams face a filtration process, and the final 20 of them enter INJAZ’s “Startup Egypt” competition, where they showcase their final products and services in a trade fair.
Only the seven winning teams subsequently enter the second and final phases of the pipeline.
In the second phase, the incubation one, the seven winning teams receive the necessary components to launch their business ideas into the real world. They are provided with access to an office space, as well as with legal registration, seed funding, and customised trainings, guided by assigned mentors in launching their new business. This phase lasts for four months and ends with a demo day, where all products and services are displayed for potential investors to view, giving the teams a second opportunity to receive generous funding and exposure.
The programme launched with an orientation event, attended by the 50 carefully selected participating teams. The orientation started with a motivational speech by Wael Fakharany, managing director and vice president of governmental relations at Careem, encouraging young entrepreneurs to pursue their dreams and find their source of passion in their lives. Following Fakharany’s speech, the teams got to know more about the programme’s details and timeline to get a head start on the challenges they will be encountering.