Flat6Labs hosts its first Riyadh Seed Program Demo Day
Summary
The portfolio companies showcased their innovative products, solutions, and high growth potential to an audience of more than 250 attendees, including investors, government personnel, mentors, and key ecosystem players.The Flat6Labs Riyadh Seed Program is funded by the Startup Seed Fund, with a total of SAR 75 million, providing the startups with a 4-month entrepreneurship-focused business training, strategic mentorship, subject matter one to one sessions, focused on commercial, administrative, financial, and legal axes. The program works on building the startups skills and capacities to develop and scale their businesses, and facilitates their regional expansion through Flat6Labs offices.In celebration of the first cohort of the Program, Eyad Albayouk, Flat6Labs General Manager KSA commented: "We are proud of our first cohort of startups, and were confident that they will disrupt markets, provide new job opportunities, and become the cornerstone of Saudis transformation to a sustainable digital economy. To that end, he unveiled Jadas strategic plan to introduce new funding solutions, including venture debt and acquisition funding.Also the CEO of the National Technology Development Program, Ibrahim Neyaz, commented, We are excited to be supporting the Flat6Labs Riyadh Seed Program, building capabilities and creating an environment that enables innovation, and most importantly, the advancement of the technology ecosystem in Saudi Arabia, under the Saudis Vision 2030.The 10 portfolio startups, who presented at the Flat6Labs Riyadh Seed Programs First Demo Day, are:An application that simplifies hangout plans, by gathering the date, time, location, and attendees in a single page on the app.An application that helps brands reach the most important customer segment, the youth, through a student-centric platform.An end-to-end interior work web platform that helps homeowners seamlessly design and execute their spaces according to their budget, and hassle free.A social commerce platform that enables users to create wishlists, add wishes, and share them with family and friends.An application that Provides a one-stop shop for building, operating, and growing F&B businesses through a B2B marketplace that covers both products and services, as well as offering idea-stage entrepreneurs a step by step guide to build a restaurant, cafe, or food truck from scratch.A platform that provides eLearning Management Systems (LMS) through SaaS monthly and annual subscriptions. Flat6Labs invests in innovative and technology-driven startups enabling thousands of passionate entrepreneurs to achieve their daring ambitions and ultimately becoming their institutional co-founders.Flat6Labs manages a number of seed funds with a total AUM in excess of $95M. Alongside the investments, Flat6Labs exceptional startup programs, executed to cater specifically to the needs of innovative entrepreneurs, help them accelerate their growth by providing them with a plethora of support services and connecting them to unparalleled opportunities with an expansive network comprising hundreds of business mentors, investors, and corporates.Launched and headquartered in Cairo in 2011, Flat6Labs has multiple offices across the region, with ongoing plans to expand into other emerging markets.