Cairo’s start-up accelerator Flat6Labs comes to Abu Dhabi
New hub to help launch more than 80 firms in the next four years
May 26, 2014 4:00 by kippreport
By Sidra Tariq
A new Abu Dhabi hub by Cairo-based tech start-up accelerator, Flat6labs, plans to help launch more than 80 companies over the next four years.
The accelerator signed an agreement last week with media free zone, twofour54, and United Markets International Holding to launch Flat6Labs Abu Dhabi.
As part of the accelerator’s regional expansion, the latest hub will be based in twofour54 in the capital and focus on digital content and e-commerce, social media and citizen journalism, media and video production and mobile applications for start-ups. The programme will be open for applications from both locals and expatriates towards the end of the year.
Launched in Cairo in 2011, Flat6Labs provides seed funding, strategic mentorship, workspace, entrepreneurship-focused business training and direct support for start-ups through an expansive network of partners and entrepreneurial activities, in exchange for an equity stake of ten per cent to 20 per cent in their businesses. Aside from Egypt and Abu Dhabi, it has presence in Jeddah (Saudi Arabia) and plans to expand to more countries in the Mena region.
Speaking about the new Abu Dhabi hub, Flat6Labs’ founder, Hany Al-Sonbaty, says: “This partnership is an essential step in establishing a start-up accelerator that can serve and benefit different local partners in the UAE. Our mission is to create more entrepreneurial hubs in vibrant media ecosystems, such as twofour54. Flat6Labs Abu Dhabi is designed to act as an entrepreneurial hub that will attract Emirati and global talent that are starting companies. Through this agreement, we hope to inspire a new generation of entrepreneurs in the UAE’s business community.”
Twofour54’s CEO, Noura Al Kaabi, adds: “twofour54 and Flat6Labs share the goal of developing talent in the UAE and across the entire Middle East region, and working together through this partnership will help us to achieve this goal.”