The startup world in Egypt is beginning to thrive, at the creativity stage, but how many of them survive and become a success is another story. Flat6 Labs aims to do something about this, by providing all the tools necessary not only for a chance of survival, but for a chance to succeed.
Founded by Sawari Ventures and the American University in Cairo, Flat6 Labs is offering applicants the space and time to take a startup from concept to reality.
The Next Web spoke to Flat6 Lab CEO Ramez Mohamed about the state of entrepreneurship in Egypt. While the startup scene has picked up in Egypt in the past couple of years, Ramez sees a long road ahead for Egyptian entrepreneurs:
In Egypt, entrepreneurship is not well defined. People think it’s someone who’s working on his own idea and trying to make it a success. But that’s not what it’s about. It’s about taking a risk. It’s about knowing your target and trying to reach it. It’s about getting involved, making connections, getting mentorship. It’s not just about funding and making your startup succeed. The term is new to Egypt, and there’s still a lot for entrepreneurs in Egypt to learn.