Arabian Cement launches round 2 of social start-up

Arabian Cement launches round 2 of social start-up
22 May 2017

Egypt-based Arabian Cement Company (ACC) has launched the second round of its social start-up programme, continuing in partnership with Nahdet El Mahrousa (NM), TradeArabia reports.

Building on the success of the first round, Khaleeha Suessi will offer entrepreneurship training for 15 shortlisted start-ups, out of which more than six start-ups will eventually receive seed funding and incubation services for one year.

This round of Khaleeha Suessi is bringing together several community collaborators who are strategically adding value to the programme, including the Syndicate of Engineering in Suez, Cleantech Arabia, Bassita and Untap Technologies.

The first phase of the programme started on 17 May, where applicant submitted their initial proposals for two months. Once applications have been reviewed by a panel of experts, 15 shortlisted applicants will be announced.

The next phase of the programme focusses on offering support to shortlisted applicants enabling them to develop a final proposal about their enterprises. The final 6-8 enterprises will be chosen in September for the incubation phase followed by the receipt of seed funding. To qualify for the year-long programme, enterprises must offer an innovative business idea that has the potential to become scalable and sustainable, and have social impact in Suez.

“Launching the second round of Khaleeha Suessi is a testament to our sustainable commitment to empower and contribute to the development of the community where we operate,” said Sergio Alcantarilla, chief executive officer of ACC.

“The results of the first round were extremely promising and encouraging for us to continue to promote positive social impact and employment opportunities by providing entrepreneurs with the tools needed to successfully establish their own start-ups. This year, we’re targeting specific sectors where further development is most needed in Suez, and are looking forward with much enthusiasm to receiving the innovative ideas of this year’s applicants.”

“One of the key outcomes of last year's programme was showcasing successful young entrepreneurs in Suez, through positioning them as a motivating role model to their fellow youth in Suez and a reason for fostering a culture of social innovation there,” said Jackie Kameel, managing director of NM. “ACC played a leading role in shedding light on the importance of private sector engagement and support for the growth of social entrepreneurship in Egypt, and an invitation to the private sector to adopt the same mentality towards a more inclusive economic growth in Egypt.”

ACC commissioned a business opportunity mapping, where four sectors were identified as a main focus for this round of Khaleeha Suessi. These sectors are namely: agriculture, food production, renewable energy and waste management. To further educate the youth in Suez about these sectors and the needed solutions, a session will be held in Suez to elaborate on the role start-ups can play to contribute to the development of these sectors.

Published under Cement News