Athar Accelerator, based in Egypt, recently celebrated the graduation of the fifth cohort from its Climate Action Accelerator Programme. The event, which took place in Minya, Upper Egypt, featured a demo day where 10 startups from the region showcased their solutions targeting key environmental sectors, including eco-friendly biopesticides, renewable energy, organic fertilizers, and sustainable furniture.
One notable startup, DFC, which focuses on creating solar-powered mobile charging stations for electric vehicles, secured a $3,000 prize (EGP 150,000). The Climate Action Accelerator Programme is supported by the Embassy of Finland in Cairo, Hivos, and in collaboration with Creativa Innovation Hubs in Upper Egypt.
Athar Accelerator, dedicated to empowering entrepreneurs in Upper Egypt, expressed excitement over the success of the demo day held on September 5, 2024, at Surf & Turf, Minya. This marked the conclusion of the 5th cohort of the programme, which brings together innovative green entrepreneurs tackling issues in agriculture, clean energy, the circular economy, and sustainability.
The programme, supported by Finnish and Hivos funding, alongside Creativa Innovation Hubs, focuses on startups addressing crucial environmental challenges. The innovative companies participating are expected to contribute significantly to climate change efforts while also fostering green job creation and economic growth in Egypt and the broader MENA region.
During the event, the 10 startups from Upper Egypt presented their solutions, addressing various sectors such as eco-friendly biopesticides, renewable energy, organic fertilizers, and sustainable furniture. These ventures form a diverse, impact-driven cohort, each committed to advancing environmental sustainability.
Key startups highlighted include:
- Fertical: Specializing in using beneficial microbes to produce eco-friendly biopesticides and biofertilizers, Fertical has served 40 clients and aims to enhance sustainable agricultural practices.
- DFC: Developing solar-powered mobile charging stations for electric vehicles, DFC has seen an impressive 210% revenue growth over two years and is driving innovation in clean energy.
- Vermi Valley: Turning livestock and plant waste into nutrient-rich compost, Vermi Valley has generated EGP 600,000 in revenue while assisting farmers in improving soil health and crop yields.
The event also featured the launch of the “Green Manifesto,” a declaration advocating for the support of underserved green-sector founders in Upper Egypt and other neglected regions. The manifesto calls for empowering local entrepreneurs, recognizing startup diversity, and building sustainable communities that promote long-term growth and innovation.
“We are extremely proud of this year’s cohort,” said Shoaib Elqady, CEO of Athar Accelerator. “These founders are not just creating solutions for pressing environmental issues, but also paving the way for sustainable economic development in Egypt and the region. Their success underscores the growing significance of climate action within the startup ecosystem. We’ve seen a diverse range of startups, and while not all are suited for venture capital funding, it’s crucial to introduce new funding models to support their growth and ensure their long-term success.”
About Athar Accelerator
Athar Accelerator is a leading organization in Egypt dedicated to supporting entrepreneurs, particularly those from underserved communities. Focusing on innovation in climate tech, sustainability, and green business, Athar provides tailored mentorship, comprehensive business training, and connects startups with investors and experts. Through initiatives like the Climate Action Accelerator, Athar helps early-stage startups overcome challenges, scale their impact, and drive sustainable economic growth across Egypt and the MENA region.
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