PROPTEX, the first proptech acceleration program in the MENA region focused on sustainability and smart cities, has announced a partnership with Cityscape, one of the region’s most prominent real estate exhibitions. Together, they will host the Egypt PropTech Challenge 2024, the country’s first competition dedicated to innovative solutions in the real estate sector.
The competition, set to launch on September 25th during Cityscape Egypt, aligns with PROPTEX’s mission to promote innovation. It aims to support emerging startups by offering them access to a tailored acceleration program, providing them a platform to engage with the proptech community.
Interested startups must submit their applications by September 20th, and the winners will be announced on September 25th after the Demo Day presentations. During this event, participants will pitch their ideas to a panel of judges and potential investors.
The competition is open to all proptech startups offering solutions in areas such as smart buildings, sustainable construction technology, property management, and more. Startups should have a validated Minimum Viable Product (MVP), with preference given to those that have advanced beyond the MVP or Seed stage. Additional criteria include having a founding team of at least two members with complementary skills, demonstrated customer traction, and monthly recurring revenue (MRR). Solutions must focus on the Egyptian and MENA real estate markets.
Participants will also have the chance to present their solutions to over 70 developers in the Egyptian real estate sector, receiving insights and mentorship from a panel of experienced industry judges.
Judges will include key figures such as Eng. Abdallah Sallam, President and CEO of Madinet Masr, Mohamed Farouk, Chairman and CEO of Mobica, Dina El-Shenoufy, Chief Investment Officer at Flat6Labs, and Zeina Mandour, Venture Investments Manager at DAR Ventures. Judging will be based on the innovation, scalability, business model, market relevance, and quality of the presentation. Each startup will be given five minutes to present, followed by a five-minute Q&A session.
PROPTEX invites startups to apply through its online portal, providing a valuable opportunity to showcase ideas, connect with key players, and gain mentorship from industry leaders.
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By Proptechbuzz
By Ravi Kumar
