Innoventures, a platform for innovative early stage ventures which facilitates and manages investments in startups mainly in clean-tech, software, electronics, art/media, market intelligence and inclusive businesses, on December 5th, 2017, organized “Startup Nova – Entrepreneurship Explosion” at the 4th phase of its Startup Reactor program held in Cairo, Egypt, awarding 4 top startups.
The event was partnered and mainly sponsored by VC4Africa with cash prizes totalling €15,000 awarded to three (3) outstanding Egyptian startup companies.
Happiana, which came tops, secured €8000 cash prize. It is a startup that specializes in creating adaptable charging solutions that can charge any device, anywhere at anytime, with a goal of erasing the words “Battery Low” from existence.
€4,000, the second cash prize went to Bioniclimbs, a research and development based startup company that develops prosthetic limbs with a focus on high functionality, fast production and customization.
The third place with a €2000 winning prize, went to Agrona, a startup that offers new technology in chipboard manufacturing that is distinguished by its low prize and wide range of applications in industrial and furniture usages.
Lastly, the popular vote prize went to the night’s crowd favorite, Imaginators, an online platform that helps people create interactive, customizable presentations just by dragging & dropping components, using a range of built-in tools. This Egyptian company took home a €1,000 cash prize.
At the event, Ben White, Founder and CEO of VC4A, expressed his pleasure in cooperating with Innoventures in supporting entrepreneurship, and proclaiming Startup Nova as a celebration of the strength of the entrepreneurship community in Egypt. He also added that Egyptian entrepreneurs have a wide host of exceptional skills and capabilities.
The ten startups who had the pleasure of delivering four minute pitches each to a panel of judges across various business fields were chosen from 200 applicants to this year’s Startup Reactor Program by Innoventures. Some of the lucky startups include Ekacia, Tomatiki and Okhtub.
Innoventures has also announced its partnership with Intercap in securing a 100 million EGP fund for Egyptian startups.
Source: Mohamed Asaad/VC4Africa
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