How many startups do you invest in every year?
We invest in up to 10 startups per year through two cycles of the Accelerator. The number of companies selected for the direct investment track every year will depend on our ability to identify highly qualified applicants.
How much funding do companies receive?
Early-stage and seed-level startups are eligible to receive up to EGP 1 million in funding through our Accelerator program while later-stage startups can apply for up to EGP 5 million in funding through our direct investment track.
What criteria do I need to meet to be selected for the program?
We interview teams and assess them based on idea quality, market size, team readiness and approach.
What should the size of my team be?
We require each startup to have at least two founders, one of whom must be committed to the project full time.
Do I have to be an Egyptian to apply?
No, you don’t have to be Egyptian. Our only requirement is to have a presence in Egypt.
When can I apply?
Visit our website regularly for the latest announcements and updates about the application cycles or follow us on social media.
What happens after I submit my application?
It takes time to fairly review every application in detail. If we select your business during the initial review stage, we will contact you to schedule an interview. If your business was not selected, we will let you know this via email. Please do not contact us to ask about the status of your application.
How long is the program?
The EFG EV Accelerator program lasts four months and culminates with a Demo Day at which top-performing startups pitch to investors for additional funding. We work with our direct investment companies over a longer period of time to help them achieve the series A funding stage.
What support is offered through the program?
We identify the key needs of each of our startups in the areas of processes, management, and funding. We work to help you meet these needs.
For the duration of the program, our startups will receive four months of shared office space with high-speed internet. Our full-time support staff will be available to help you develop our capacities in areas from business development to HR management to growth strategy. We also connect you with high-profile mentors in a variety of fields and facilitate numerous training sessions. Additionally, our support staff will advise you on issues related to company incorporation, taxation, and other legal issues. We also offer advice and strategize to help you with your fundraising efforts.
Do I have to be based at the Accelerator location for the entire training period?
Yes, to ensure that our startups have the ability to take full advantage of all resources and support offered through the program, we require you to be primarily based in Cairo for the duration. The EFG EV Accelerator program is a major commitment that all companies must undertake in order to receive funding.