SIAC, one of Egypt’s leading construction firms, Flat6Labs and Dar will collaborate to foster startups and contech solutions across Egypt.
SIAC, one of Egypt’s largest construction firms, Flat6Labs and Dar have announced the creation of The Makers Contech Innovation Programme (Makers), a construction tech (contech) innovation program that aims to support startups and the spread of contech solutions across Egypt. Makers will include a pre-accelerator for early stage startups and an accelerator program with an investment component for more advanced startups.
SIAC, Flat6Labs and Dar: Promoting innovation
The pre-accelerator program aims to promote construction industry innovation by connecting and engaging with various stakeholders with extensive expertise, as well as to creating sustainable innovation ecosystems for construction-related challenges within SIAC, Dar and the industry at large.
In its pre-accelerator stage, Makers will provide selected startups with a range of services, including strategic mentorship, entrepreneurship-focused business training, subject matter one-on-one sessions, and a wide range of perks and services from partners. The pre-accelerator will support founders by guiding them through the development of their projects and allow them to present their ideas to SIAC and Dar. From there, companies will have the possibility of being selected to participate in a pilot program, after which the startups will be better positioned to raise funds.
Digitizing the construction industry
The program also seeks to highlight the importance of the modernization of the construction industry which, according to McKinsey, is one of the least digitized industries globally, and underline the importance of providing new solutions to the industry. The goal is to bring the construction industry closer to a sustainable, productive, and technologically advanced environment.
“A shift toward digitizing construction solutions is becoming increasingly important in order to achieve safer and more productive results. Using robotics and data analytics to digitize construction processes for construction sites and industrial plants, data assembly, transactions, and city design, companies will be able to save labor costs, address labor shortages, and improve safety. We are excited to launch the Makers Contech Innovation Programme in collaboration with SIAC and Dar-Al-Handasah with the goal of supporting, investing, and nurturing innovative, sustainable, and promising startups to drive the construction industry revolution,” said Albert Malaty, Managing Director of Flat6Labs, Cairo.
The new Makers Contech business models will assist engineers and the construction sector in particular in building, designing, and growing in a cost-effective, sustainable, and safe manner, according to Malaty.
Applications for the new program can be made here.
Read our exclusive interview with Ramez El-Serafy, CEO of Flat6Labs, here.