Flat6Labs, one of the region’s most popular accelerators has been launched in Beirut and they are accepting applications for its first cycle of seed program. Launched in partnership with ArabNet, the program is offering investment of 30,000-50,000 USD and all they are looking for is entrepreneurs with teams and an idea. One doesn’t need to have a startup to apply. They will help entrepreneurs develop their idea into a startup. For the seed funding and all these perks, they will take 10-13% equity from the selected startups.
But that’s not it. Being an accelerator, they’re obviously not offering money alone. All the entrepreneurs who get selected will get shared office space, mentorship, training and coaching with more than fifty courses, legal and administrative help and a lot of other perks as well including Demo Day Investor Matching. The seed fund has 20 Million USD and Flat6Labs Beirut aims to help about 100 startups with it.
They’ve also partnered up with companies like Amazon Web Services, Microsoft, Payfort, Stripe, Bayt & Wamda to offer support and services for the startups.
“We are the only regional accelerator in Lebanon, and can provide our startups with access to MENA markets in all the ever-growing list of cities that Flat6Labs operates.” said Fawzi Rahal, Managing Director of Flat6Labs Beirut
He added, “Flat6Labs Beirut is one of the few VCs filling the early stage funding gap for startups with ticket sizes of $150K-$500K – a critical amount for startups looking to scale.”
Flat6Labs has been running similar accelerators in Jeddah, Cairo, Abu Dhabi & Tunis as well and very recently they’ve announced one for Bahrain too.
The last date to submit your applications is June 6, 2017. So you have about a week. You can submit your application here.