As a baby needs care and attention, startups need to care as well, especially that many are indeed like infants. The infant is very vulnerable, and therefore the incubator provides the child with protection, and then grows up and leaves this incubator ready to begin his journey in this life.
The need for start-up companies is no different than the need for infants, hence the name “Business Incubator” to help startups start their entrepreneurial careers. These companies are weak and unable to cope with the market and the daily difficulties it poses.
Let us tell you about the most important business incubators in the Arab world and the support they provide to emerging companies during their journey.
This business incubator started from Egypt and specifically Cairo, where it was one of the first and best incubators there, but its great success forced it to expand to Jeddah in Saudi Arabia to start a new success story.
After Jeddah, Flat 6 Labs began its work in a number of other cities – Abu Dhabi, Beirut and Tunisia, as well as Bahrain.
This incubator accepts a number of companies in each session, and the selection is made on special terms. After choosing the companies that will join the course, which will provide them with significant support at various levels, beginning with financing, Flat6Labs invests between $15,000 and $20,000 in each company as initial financing in return for a few shares in the company. This initial financing is meant to help in covering expenses during the program and trying to identify their products, develop their core applications, and also to market their project.
In addition to financing, Flat 6 provides a wide range of services including guidance, training, legal support, a workplace, and many more. For the latest incubator courses, visit the following link.
It was founded in September 2010 by a board of directors headed by Mr. Osama Fayyad, Yahoo’s former Senior Data Manager.
The Oasis500 business incubator is located in Amman, Jordan, an investment platform focused on seed capital. It particularly supports emerging companies in the technology sector. The participating candidates receive approximately $ 31,000 in cash and custody in four months, and the period may be longer if the companies get another round of funding. Oasis500 takes a 15-20% stake in each company.
It was established in July, 2011 by a Board of Directors led by Mr. Sami M. Jalal from the company Mohammed Jalal and Sons.
Bahrain-based Tenmou is investing about US $50,000 for a 20-40 percent stake in the emerging company, so that these startups, as part of the deal, will receive three months of intensive support and an opportunity to turn to investors, Tenmou does not offer a workspace.
Berytech was born in Beirut in June 2010 and is a non-profit incubator. Peretic offers grants ranging from $10,000 to $100,000. The fund invests in technology companies to acquire a slice of shares.
Berytech provides an environment conducive to the creation and development of startups, through incubation, business support, counseling, finance, networking and securing office space, thus participating in the country’s economic recovery, wealth participation and job creation.
Launched in Dubai in the UAE in 2013, this fast-paced investment fund consists of an Accelerated Growth Program complemented by an investment fund. Provides start-up companies with guidance, training and business development support for one year. Investment also helps them to follow and grow globally.
TURN8 has laid out its vision to build the foundations for a young, dynamic and fast-growing ecosystem that will enable technology startups to flourish, leading to major transformations in the global trading economy. Under this vision, Turn8 has funded more than 70 emerging companies in the field of Technology so far.
We move from Dubai to Tunis to get acquainted with a unique business incubator called Intilaq. This incubator was founded in October 2012.
Intilaq offers a free six to nine month refreshment, plus a work space. Emerging companies can receive initial financing of at least $ 150,000.
So far invested more than $14 million, has funded 26 startups, which has created more than 300 jobs.
We return to the UAE but this time to the capital Abu Dhabi to see Creative Lab, which invests between $ 50,000 to $ 5 million early on or in the capital of emerging media or entertainment companies.
Creativity Lab authors describe themselves as a vibrant community, with many talented and creative people who want to take advantage of more creative opportunities and expand their creativity and talents.
This lab provides guidance and continuous training to startups, supports young Arab talent, sponsors their dreams and helps them transform them into reality. It is closer to an integrated network, through which talent can share and communicate ideas.
It is clear that this accelerated operation in the Gaza Strip, which has been operating since September 2013.
Start-up companies participate after being selected in a training camp. These companies receive guidance and hosting for three months.
During this period, companies are presenting their ideas three times to Gaza SkyGex and Oasis 500, which we talked about previously and a strategic partner. The companies then travel to Amman, where they receive weekly training, a free place to work and other features, all under the care of the Oasis 500.
read also: SIBA at Syria Digital Lab 2019 in Brussels
We are staying in Palestine and specifically in Ramallah to learn about the incubator of the Arab entrepreneurs. It is the incubator that aims to involve young entrepreneurs in development and provide facilities for their use in creativity, supporting emerging companies and providing time to develop these companies, which will in turn provide economic and social growth.
The incubator was launched in 2013 and continues today to search for emerging companies in the Arab world and encourages entrepreneurs to participate as part of this wonderful entrepreneurial movement.
We will finish where we started, specifically in Egypt, and highlight the first university incubator in Egypt, which is based at the American University in Cairo and derives its name from them as well.
AUC VentureLab enables startups to leverage AUC’s capabilities, both in terms of capital and great facilities, as well as the data network and innovative environment.
These were the most important business incubators in the Arab world, helping companies in the beginning of their life to grow bigger and benefit the economy, provide business opportunities and a profit for all parties without exception.
Do you know other business incubators and accelerators? If so, we are waiting for you to tell us to add them to the list.