Description
Nahdet El Mahrousa is excited to announce the launch of another growth-stage acceleration round for Creative Industries startups.
This round is dedicated to supporting growth-stage creative enterprises in the handicrafts and performing arts sectors, helping them overcome growth challenges and scale their businesses effectively.
These rounds are part of the Creative Industries program, El Garage, which is designed to revive and celebrate Egyptian identity, art, culture, and history through social entrepreneurship. This program is supported by the DROSOS Foundation and implemented by Nahdet El Mahrousa.
Benefits and Services
The selected startups will receive tailored capacity-building support to foster the growth of their social enterprises.. The offerings include:
Customized Consultations and Business Clinics: Personalized one-on-one consultations and business clinics addressing growth-stage topics tailored to the specific technical and business needs of each enterprise.
Impact Investment Funding: Up to 200,000 EGP in milestone-based, zero-equity funding.
Mentorship and Consultancy: Access to experienced mentors and consultants across various domains.
Discounted BSU Services: On-demand financial, legal, HR, and digital marketing services from NM’s Business Support Unit (BSU), including financial auditing and internal legal document creation.
Market Access and Networking: Facilitated opportunities to access markets and relevant networks.
Co-Working Space: Free access to shared space at Garage El Mahrousa, Nahdet El Mahrousa’s co-working space in downtown Cairo, for up to 100 hours per month.
Export Support Program: Assistance with the know-how of exporting products and services.
Startup Eligibility Criteria
They are looking for social enterprises in the handicrafts and performing arts sectors that meet the following criteria:
Provide sustainable solutions to address local, social and/or environmental challenges and tackles social and/or environmental challenges using innovative approaches.
Be registered for at least 1 year and have been operating in the market for at least 3 years.
Have a defined and validated business model with a proven product-market fit and established distribution channels.
Deliver products or services to customers, generate revenue, and preferably be profitable.
Have its main operations in Egypt (startups based outside Cairo are highly encouraged to apply).
Plan to expand the team with 4 full-time Egyptian employees within the year.
Have a founding team of at least 2 Egyptian nationals, with at least one founder working full-time in the startup.
Additional Criteria for Handicrafts’ Startups
Advocate for social change and adhere to Fair-Trade principles.
Have sold products abroad and be looking to expand export operations.
Additional Criteria for Performing Arts’ Startups
Advocate for social change through its performances.
Have performed and/or provided services in at least 3 different cities/governorates.
Have participated in at least 5 festivals.
Have diversified revenue streams (i.e., rely on various types of services/activities for income, including but not limited to performances and workshops).
Deadline
July 6th, 2024
Find application form here