Changelabs has announced a new partnership with Raya FutureTECH, the accelerator arm of Raya Holding for Financial Investments, to launch a corporate business accelerator in Egypt. The initiative aims to support large corporations by providing access to startup innovations and fostering collaboration between the two ecosystems.
A Strategic Shift For Corporate Innovation
This partnership marks a new strategic phase for Changelabs, building on its five-year track record of successfully implementing entrepreneurship programs with Development Finance Institutions (DFIs), including the Egypt VC Summit and the Scale Up to Green Accelerator.
The company is now expanding its offerings to provide integrated solutions for large corporations, encompassing incubators, accelerators, hackathons, and innovation training programs. The goal is to empower these companies to discover innovative startup solutions, build strategic partnerships with SMEs, develop corporate venture capital (CVC) arms, and achieve their Environmental, Social, and Governance (ESG) objectives.
“This partnership with Raya is a clear example of the growing interest from major corporations in accessing innovation and investing in startups,” said Karim Samra, CEO of Changelabs. “Through this collaboration, we aim to design and implement programs that give these companies a real competitive advantage and sustainable value.”
The Investment Readiness Program
In collaboration with Raya FutureTECH, the partnership has launched the third cohort of the accelerator under the name “Raya FutureTECH Investment Readiness Program.” The three-month program targets experienced Egyptian entrepreneurs and is designed to prepare their startups to attract venture capital investment. Participants receive specialized technical training, support with financial modeling and valuation, and connections to a network of potential investors and partners.
Early Success And Funding
Since its recent launch, the program has already facilitated $750,000 in funding for several Egyptian startups from investors based in Saudi Arabia and the UAE. Notable participants include:
- ForWheelz: A smart infrastructure company that transforms traditional vehicles into connected platforms.
- Mezatech: A startup focused on device care, extending the operational life of electronics while reducing e-waste.
- Tayar: A Fleet-as-a-Service (FaaS) platform supporting delivery companies with sustainable electric bikes and integrated financial services.
“For over 26 years, Raya has played a pivotal role in shaping Egypt’s technology landscape,” stated Ahmed Khalil, CEO of Raya Holding for Financial Investments. “Through Raya FutureTECH, we continue this legacy by supporting the next generation of entrepreneurs. This program is a concrete step toward building an innovation ecosystem that will lead the future of the Egyptian economy.”
About Changelabs
Changelabs designs and implements entrepreneurship and innovation programs across the Middle East and Africa. The organization partners with DFIs, corporations, and government entities to create accelerators, incubators, and venture-building initiatives that support startups and foster economic growth. Its new strategic focus is on providing comprehensive innovation solutions to help large corporations engage effectively with the startup ecosystem.
Source: Al Mal News
