Flat6Labs, a prominent seed and early-stage venture capital firm in the MENA region, has announced the selection of 24 startups for its StartMashreq Growth Track program. These startups, hailing from Jordan, Lebanon, and Iraq, operate in various sectors including fintech, healthtech, e-commerce, and agritech. Notably, five of these startups are co-founded by female entrepreneurs and are involved in Edtech, Energy Tech, and Proptech.
With a collective annual recurring revenue of USD 20.8 million and a total of USD 38.5 million raised, these startups have also created around 700 direct job opportunities across the three countries. By joining the StartMashreq Growth Track program, these startups will have the opportunity to access new markets, scale their operations, create more job opportunities, and make a significant impact on their respective economies.
Abeer Shalan, Senior Operations Officer at the International Financial Corporation (IFC), expressed her excitement about partnering with Flat6Labs to support these promising startups from the Mashreq region, especially those founded by women. She believes that these startups have demonstrated resilience and innovation in challenging circumstances and have the potential to create value for their stakeholders by expanding into new markets. The funding and resources provided through this program aim to help these startups reach their full potential and contribute to the development of the regional startup ecosystem.
Ragia Amr, Program Director of StartMashreq at Flat6Labs, welcomed the 24 startups to the Growth Track program, highlighting their impressive quality and diversity. Amr expressed confidence in their ability to succeed in their respective markets. Through the program, tailored support and guidance will be provided to help these startups overcome challenges and achieve their goals. The collaboration between Flat6Labs and the startups will span over the next six months and beyond.
The StartMashreq Growth Track program began in June 2023 and will continue until December 2024. It is part of StartMashreq’s broader vision to inspire and support displaced entrepreneurs, empower female-led startups in the Mashreq Region, foster investment-ready businesses, and integrate the regional startup ecosystem. This will be achieved through various activities, exposure opportunities, and legal support, including workshops, mentorship by international experts, business networking events, investor mixers, and participation in international events and roadshows.
The following 24 startups have joined StartMashreq’s Growth Track program:
Lebanon:
1. Compost Baladi
2. Ecomz
3. KamKalima
4. Moodfit
5. Presentail
6. Purpl
7. Shelvz
Iraq:
8. KESK
9. Lezzoo
10. Midient/Padash
11. Orderii
12. Toolmart
Jordan:
13. Algebra Intelligence
14. Arab Therapy
15. Dinarak
16. Hello World Kids
17. InvoiceQ
18. Jordilight
19. Konn Technologies
20. Little Thinking Minds
21. Nestrom
22. Palmear
23. Repzo
24. Shop4Me
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