VC firms Dar Ventures and Acasia Group have joined forces to launch the DarE Incubator in Egypt, aimed at advancing the entrepreneurship ecosystem in the architecture, engineering, and construction (AEC) industry.
Dar Ventures is the venture capital arm of Dar Al-Handasah (Shair and Partners), a world-class design and engineering consultancy, while Acasia Group, formerly Cairo Angels, is an investing and impact platform that invests, supports and empowers the next generation of technology entrepreneurs in the Middle East and Africa.
The two organisations have launched the DarE Incubator, a six-month programme operated by Acasia Group that empowers AEC tech founders with up to US$50,000 in equity-free funding and a comprehensive toolkit to jumpstart their startups. The incubator was launched at an event held at Founders Spaces in Cairo, attended by a group of over 50 guests and critical players in the entrepreneurship ecosystem and AEC startup space.
“The AEC industry is on the cusp of tremendous growth, with a projected global value of US$12.26 trillion by the end of 2023. Recognising this, we are excited to lead the charge in transforming the industry by fostering entrepreneurship and tech innovation right here in Egypt and across the MENA region,” said Zeina Mandour, venture investments manager at Dar Ventures.
The DarE Incubator has opened its application for its first cohort, with interested parties invited to apply here.
