Cairo, Egypt – PROPTEX,  the first Proptech Acceleration Program in the MENA region, focusing on sustainability and smart cities, announced its partnership with Cityscape, the largest and most important real estate exhibition in the MENA region, to host Egypt PropTech Challenge 2024. This is Egypt’s first proptech competition, designed to showcase innovative solutions in the real estate sector. 

The groundbreaking competition, aimed at fostering innovation in the real estate sector, will launch on September 25th at Cityscape Egypt. Aligned with PROPTEX’s mission, this event will spotlight promising startups and provide them with a supportive ecosystem through an extensive acceleration program to gain recognition in the Proptech community. 

Submissions are due by September 20th. The winners will be revealed on September 25th, after the Demo Day, where startups will present their solutions to a panel of judges and potential investors. 

Open to all proptech startups, the competition seeks innovative solutions in areas such as smart buildings and cities, green construction technology, commercial real estate, sustainable proptech, and property management. To qualify, startups should have a validated Minimum Viable Product (MVP), with preference given to those beyond the MVP and Seed stages. The founding team must include at least two members with complementary skills, and the startup should demonstrate initial customer traction and generate monthly recurring revenue (MRR) while focusing on solutions that impact the real estate market in Egypt and the MENA region. 

Startups participating in the challenge will have the opportunity to present their cutting-edge proptech solutions to over 70 developers in the Egyptian market, receiving valuable feedback and mentorship from experienced judges. 

A distinguished panel of industry leaders, including Eng. Abdallah Sallam, President and CEO of Madinet Masr; Mohamed Farouk, Chairman and CEO of Mobica, Dina El-Shenoufy the Chief Investment Officer at Flat6Labs, and Zeina Mandour, Venture Investments Manager at DAR Ventures;  will evaluate the pitches. Judging will focus on the solution's originality, scalability, business model, market impact, and presentation quality. Each startup will have 5 minutes to pitch their idea, followed by a 5-minute Q&A session with the judges.

PROPTEX invites startups with innovative real estate solutions to apply via the online portal. This call for proposals offers startups a unique platform to showcase their ideas, network with industry leaders, and receive mentorship from experienced professionals. 

About PROPTEX

PROPTEX is a Proptech Acceleration Program aimed at supporting startups in the proptech industry across the MENA region. The program focuses on creating sustainable and smart cities, as well as developing workplaces and communities. PROPTEX offers startups essential resources, mentorship, and business development support to become investment-ready, along with providing investment opportunities.

 

About Cityscape Egypt

Cityscape is the largest and most important real estate exhibition in the MENA region. Supported by the public and private sectors, connecting investors and developers to unique opportunities throughout the country. Cityscape is shaping the future of the real estate sector and the technologies that drive the industry.