Denis Opudo
Startup Reactor is taking in applications for its 5th cycle after the successful conclusion of its 4th cycle phase. The 4th cycle was the last phase of 2017, and it was dubbed Startup Nova Entrepreneurship Explosion. Startup Reactor has been operational for six months. The program is made with an aim of helping innovative Egyptian startups with high growth potential. The program is a way of bringing together mentors, entrepreneurs and investors on the same roof. The participating mentors and investors in the program get an equity stake in the businesses that they opt to support.
The Ignition stage will have 40 qualified startups. A total of 15 startups will qualify for the Plasma stage after attending training and mentoring programs. At the Plasma stage, training will be more intensive, and it will be mainly on how to develop business prototypes, models, customer base and brand identity. Qualified startups get full funded program package that includes; legal registration and advice, access to office space and facilities, consultation services, exclusive access to mentorship from a network of more than 200 business professionals, and support services like accounting, HR and marketing.
As part of the program, the startups will bug funding worth 300,000 EGP with a chance to take part in the next phase. The phase will involve international and local investors where the top 3 startups receive cash prizes worth 15,000 Euros from VC4A, with further investment opportunities. The program also has some projects run under the partnership of different bodies. The Planet facilitates the Digital Media Track. Digital Media Track deals in analytics, content platform, talent management, content creation automation, advertising, e-commerce, and influencer management.
Design Track that covers smart appliances, design tools, consumer electronics, lighting and lighting fixtures, and smart furniture design is run by Studio 49. IBM runs Computing Track that covers cloud-based networks, IoT, AI technology, chat-bots, and software. The collaborators ensure that there is maximum support for the entrepreneurs.
