Innoventures and Fascila Announce Joint Launch of ‘Startup Reactor’

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Innoventures
LLC is asserting its role as Egypt’s most disruptive venture capital firm, by
partnering with Fascila Technologies LLC, and launching a new entrepreneurial
support program. Startup Reactor is a unique acceleration platform designed to
enable the success of innovative startups targeting a number of opportunity
industry areas in Egypt. The program will create an environment to connect
entrepreneurs, investors and mentors, and will host, coach and invest in
Egyptian seed-stage startups for a duration of 6 months.

The
startups will be selected from among the most innovative and financially
promising venture models in the strategic areas of clean technology, energy,
electronics, media and market intelligence. The program will also focus on
inclusive businesses and ICT-enabled platforms in broader opportunity areas
such as healthcare, education and agri-business. Fascila Technologies will
manage VLSI Reactor, a subsidiary program that will run in parallel focusing on
startups in the electronics and semiconductors industry.

Qualifying
startups will receive seed funding and office facilities, will be assigned a
committed mentor, and will follow an immersive adaptive training program,
whilst they focus on developing their business model, prototype, brand and
customer base. Participating investors and mentors will receive an equity stake
in the ventures which they choose to support. Startup Reactor also caters to
CSR departments of companies which would like to work with startups in a
particular area under the same model.

Innoventures
LLC was incorporated in 2011 as an innovation platform to bring the wealth of
original Egyptian ideas to market by providing a platform catering to today’s
entrepreneurs in the region. The company caught the attention of the
entrepreneurial industry and community when it designed and executed the ‘Start
with Google’ (Ebda2) program, a first-of-its-kind program for Internet startups
in Egypt. The program created widespread impact, and provided exposure to a
vast network of mentors, investors and entrepreneurs. The company also runs a
weekly idea sharing and networking program called Startup Circus and hosts a
number of startups in its Venture Hub.

The
strategic partnership with Fascila will allow the VLSI Reactor to become the
electronics arm of the program, and deliver a more customized platform
specifically catering to the more advanced needs of semiconductor ventures.
Fascila Technologies LLC is an electronics industry pioneer, and was the first
to provide a number of semiconductor-based smart wireless automation
innovations in Egypt and the wider Middle East region.

Startup
Reactor and VLSI Reactor will together serve as an ideal platform for
entrepreneurs looking for a complete startup acceleration package, and access
to a professional industry network. For investors and mentors, it serves as a
portal to access these innovative ventures in the industry areas with the
greatest potential for growth and impact.

Startup
Reactor will start its first cycle in December 2012. A Showcase event will be
held on 19 November 2012, which will provide a venue for a sample of the
participating startups to pitch their ideas, and for networking between the
entrepreneurs and their potential investors and mentors.

Interested
entrepreneurs, investors and industry professionals are invited to contact
Innoventures at: info@innoventures.me

For startups interested in applying, go to: innoventures.me/reactor

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