The Middle East’s leading seed and early-stage venture capital firm, Flat6Labs, has taken a groundbreaking step towards shaping the future of the construction technology (ConTech) industry with the launch of their “Makers” ConTech Accelerator Program. In partnership with SIAC and Dar Al-Handasah (Shair and Partners), this innovative initiative is set to transform the landscape of construction innovation in the region.
Empowering the Builders of Tomorrow
The “Makers” ConTech Accelerator Program marks a significant milestone as the first-ever construction-focused accelerator in the Middle East. Designed to empower advanced startups in the construction technology sector, the program aims to provide startups with up to $100,000 in funding each, along with an array of resources and support. This includes access to pilot projects, mentorship from industry experts, business training, coaching sessions, one-on-one consultations, networking opportunities, and vital resources to nurture and expand their businesses.
The program is set to span 12 weeks, with the selection of startups based on the uniqueness of their new technology, dedicated founders, and the promise of their products, ideally presented at a minimum viable product (MVP) level or higher.
Fostering Innovation and Collaboration
The launch of the “Makers” ConTech Accelerator Program follows the success of Makers’ initial pre-accelerator program earlier in 2023. This pre-accelerator aimed to spur innovation in the construction industry by facilitating connections between startups and industry stakeholders, thereby creating sustainable innovation ecosystems to tackle construction-related challenges.
Nine pioneering ConTech startups in Egypt, including names like Reblox, Tawredaat, AION Innovation, Masafa, HomeLab, A.D Innovations, Makinahub, and JEEZAR, graduated from the pre-accelerator program. These startups benefited from strategic mentorship, entrepreneurship-focused business training, and personal sessions with subject matter experts, among other advantages.
Expanding Horizons for Innovation
With the launch of this new accelerator program, Flat6Labs demonstrates a commitment to offering continuous support to ConTech startups. The program is initially focused on Egyptian entrepreneurs, with plans to later expand its reach to the Kingdom of Saudi Arabia and eventually to the broader MENA region.
Faysal Shair, Head of Digital Solutions at Dar Al-Handasah, expressed enthusiasm about the program’s potential to accelerate the transformation of the construction industry. He highlighted how the program will foster innovation, empower talents in construction tech, and collaborate with industry leaders to bring innovative solutions to market.
A Digital Revolution in the Construction Industry
Seif Ragab, Deputy CEO at SIAC, emphasized the pivotal role of the digital revolution in the construction sector. Ragab highlighted the significance of capitalizing on this momentum to drive growth and development in the region’s construction industry.
Yehia Houry, Chief Programs Officer at Flat6Labs, conveyed pride in the success of the pre-accelerator program and expressed optimism about the impact “Makers” will have on the construction industry across Egypt and eventually the Middle East.
A Path to Transformative Change
In a sector known for its gradual pace in embracing innovation, the “Makers” ConTech Accelerator Program emerges as a beacon of hope. By nurturing and equipping construction entrepreneurs with the tools they need, the program aims to propel the industry forward. It seeks to optimize and automate construction processes, enhance efficiency and sustainability, and ultimately redefine the future of construction technology.
As the “Makers” program gathers steam, it is poised to not only transform startups but also the entire construction industry, creating a brighter and more innovative future for the Middle East.
Flat6Labs stands as the foremost seed and early-stage venture capital firm in the MENA region, currently overseeing the most prestigious startup initiatives in this area. Each year, Flat6Labs commits investments to over 100 forward-thinking startups rooted in innovation and technology, facilitating numerous driven entrepreneurs in realizing their audacious aspirations. This support extends to them evolving into institutional co-founders, solidifying their transformative journeys. It recently launched a new $95 million Seed Fund to nurture the growth and development of early-stage tech startups on the African continent.
