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10 Startup Companies Graduate from Flat6Labs on the Demo Day of the Second Cycle

On Monday, 10th of Rajab 1445 H (corresponding to January 22, 2024), the Saudi capital, Riyadh, hosted a significant event in the entrepreneurial world. It marked the graduation day for 10 startup companies from Flat6Labs on the second demo day. This event served as the closing ceremony for the second cycle of the Riyadh Seed Program, aimed at supporting Saudi startups.

The Riyadh Seed Program by Flat6Labs

The Riyadh Seed Program by Flat6Labs offers startup companies in the Kingdom the opportunity to enhance their products and services, and expand their business scope through:

  • Cash funding of 500,000 Saudi Riyals.
  • The chance to secure additional funding of up to 2.4 million Saudi Riyals.
  • Access to a broad network of investors and partners at both local and regional levels.
  • Legal support to facilitate legislative procedures.
  • Opportunities to expand into new markets within and outside the Kingdom of Saudi Arabia.

The support for participating startups in Flat6Labs doesn’t conclude with the program’s end; it continues through events and networking sessions.

The Startups That Graduated from The Second Cycle of Flat6Labs

  • Blomal:  A platform for crowdfunding, specializing in private alternative investments, to facilitate access to open-end and closed-end investment funds, connecting investors with a diverse range of investment funds.
  • ClearForce: Your trusted partner for customs clearance solutions and facilitating the passage of goods across borders.
  • Dawafast: offers a straightforward solution to revolutionize the way people access their pharmacy essentials with ease and simplicity.
  • Darent: is a prop-tech start-up from Saudi Arabia that provides a daily local living experience and aims to provide the seamlessly technology.
  • iStoria: is the world’s most enjoyable way to learn the English language through interesting stories. Students get an affordable and convenient way to develop their English language.
  • NUZUL: We aim to empower the real estate sector by providing integrated digital solutions that facilitate real estate transactions and activate digital transformation in this field.
  • Swarm Robotics: is a Robotics software service and Turn-key solutions provider focused on Intralogistics optimization and automation.
  • Tmyyoz: A leading online educational platform in providing educational and technological resources for students, to create an enhanced learning experience.
  • UDAWI: Provides healthcare services at a discounted rate equivalent to the discount obtained by major insurance companies.
  • Waada: is a rising insurtech startup that aims to empower Pakistan with simple, affordable and accessible insurance.
10 Startup Companies Graduate from Flat6Labs on the Demo Day of the Second Cycle

An Intensive 4-Month Journey with Flat6Labs

Month 1: Program Introduction

A guidance session is held to introduce the program plan, and individual weekly sessions commence. Workshops are conducted to assist startups in preparing their pitches before the final presentation day.

Month 2: Coaches and Mentors

Startups are introduced to coaches and mentors who will support them throughout the cycle. Customized sessions are designed to enhance their business operations.

Month 3: Opportunities

Startups are presented with numerous opportunities to showcase their solutions to companies and investors.

Month 4: Final Training

A few weeks before the presentation day, startups undergo final training on their pitches, have professional photos taken for their companies, and record their presentations.

The Economic Impact of The Riyadh Seed Program

The Riyadh Seed Program contributes to supporting the Saudi economy by creating new job opportunities, fostering innovation and entrepreneurship, and attracting foreign investments.

Creating New Job Opportunities

The program provides essential funding for startups to expand their operations and increase their workforce. This leads to the creation of new job opportunities in various fields, including technology, innovation, healthcare, transportation, and logistics services.

Fostering Innovation and Entrepreneurship

The Early-Stage Funding Program offers startups the support and guidance they need for success. This includes access to a wide network of investors and partners, as well as training in the skills necessary to establish and manage a startup.

The program helps stimulate innovation and entrepreneurship in the Kingdom of Saudi Arabia, providing startups with the opportunity to grow and thrive, contributing to the development of the national economy.

Attracting Foreign Investments

The Early-Stage Funding Program in Riyadh attracts the interest of foreign investors, offering them the opportunity to invest in promising Saudi startups.

Future Expectations

The Riyadh Seed Program by Flat6Labs is expected to experience growth in the coming years as the Kingdom of Saudi Arabia seeks to enhance its entrepreneurial environment. Applications are currently open for the third cycle of the riyadh seed program, with the deadline for submission set for January 31, 2024.

The graduation of 10 startups from the Riyadh Seed Program at Flat6Labs represents a significant achievement in the entrepreneurial journey in the Kingdom of Saudi Arabia. This accomplishment underscores the efforts of the Saudi government in supporting startups and promoting the national economy.

Read Also: During the 1st year of operations: Octane fuel sales hits EGP 1bn in 2023

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