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Changelabs has launched a Green Scale-Up Accelerator program in Egypt

Changelabs, an impact-focused accelerator, has launched its ‘Scale Up To Green’ program, which will target top Egyptian resource efficiency, green energy, and agritech companies.

The Green for Growth Fund (GGF), a Euro 400 million+ investment fund funded by the IMF, Deutsche Bank, and other leading organizations, is launching the initiative, which will assist GGF in identifying potential portfolio companies.

The European Union’s EU4Energy project, Amazon Web Services (AWS), and MINT by EGBank will all be partners in the program

This accelerator will provide SMEs and scale-ups with unrivaled access to the tools they need to develop, attract new customers, form long-term relationships, and raise additional rounds of funding.

By the middle of 2021, the program would have accepted and worked closely with 15 leading Egyptian post-revenue scale-ups. Each accepted startup will be considered for investment by GGF (with ticket sizes ranging from Euro 1 million to Euro 1 million), and will have access to technology and design services, product build-out support, and a day-to-day hands-on operating partner for six months who will help them scale their company – a first in the MENA region.

The program’s focus on key sustainability outcomes is especially well suited to the Egyptian market, as the country is experiencing a Green Energy and Resource Efficiency revival, fueled by local constraints and pressure from double-digit population growth, as well as global demand as reflected in competitive export markets.

The application deadline is May 1, 2021.

SMEs and scale-ups across Egypt can visit the website changelabsme.org to apply or for more information.

Source: Tech Gist

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