The British embassy in Cairo launches a new entrepreneurship initiative, with a GBP 2 mn grant, powered by Flat6Labs and in partnership with the International Finance Corporation (IFC), Invest-Gate reports.

The initiative, launched in an event held at the GrEEk Campus in Downtown Cairo, has three themes of “Ideate,” “Build,” and “Accelerate,” according to a statement by the British embassy in Cairo.

“With IFC and Flat6Labs, we will to give Egypt’s young entrepreneurs the finance, the advice, and the exposure to turn Egyptian ideas into international solution, and make them the champions of the future economy of Egypt,” the British Ambassador to Egypt John Casson is quoted in the statement as saying.

The initiative will start by touring Egypt over the next few months to offer Egyptian entrepreneurs a variety of activities and workshops.  And it will provide a six-month incubation period during which entrepreneurs will be engaged in a training program.

Entrepreneurs will work within social impact sectors under Flat6Labs Cairo’s accelerator program with grants of up to USD 25,000 per company.

StartEgypt is now accepting applications from entrepreneurs to join its incubation program on www.startegypt.com.