Flat6Labs a Cairo based accelerator, announced a partnership with Abu Dhabi’s media zone TwoFour54 to support 
startups in UAE.
The new accelerator will offer between $30,000 and $50,000, slightly higher than Cairo and Jeddah, for up to 15% of a startup’s business, according to Ramez Mohamed, chief executive of Flat6Labs.
“We are targeting the local Emiratis as well, but it’s an international accelerator,” Mr. Mohamed said in an interview with the Wall Street Journal. Flat6Labs offers up to $20,000 in Cairo and $25,000 in Jeddah.
Founded in Cairo by VC firm Sawari Ventures, Flat6Labs has partnered in Jeddah with Qotuf, an entrepreneurship network, with sponsorship from Swedish furniture behemoth Ikea and industrial giant Arabian Cement. In Abu Dhabi, Flat6Labs will also aim to raise money through partners, Mr. Mohamed said.
Flat6Labs Abu Dhabi is planning to help launch more than 80+ companies over the next 4 years. Launching soon in 2014, Its primary focus will be on digital media including digital content, e-commerce, social media, media and video production, and mobile apps
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[…] has changed significantly in recent years. Initiatives such as Abu Dhabi’s twofour54 and Flat6Labs in Cairo have provided the means for entrepreneurs to develop their skills and businesses, […]