New Incubator Program: Dar Ventures and Acasia Group will Aid Architecture, Engineering, and Construction Startups
Dar Ventures, the venture capital arm of Dar Al-Handasah, a design and engineering consultancy firm, has initiated the "DARE" incubator program aimed at startups in the architecture, engineering, and construction (AEC) sectors across the Middle East and Africa.
The program offers selected startups both financial and non-financial support, including mentorship and access to Dar Al-Handasah's partner universities.
Nader Aboushadi, the Director of Dar Ventures, highlighted their focus on entrepreneurial talent within the AEC industry through this pioneering in-house incubator, representing a first-of-its-kind initiative in the Mena region aligned with their core business.
"What’s critical about the AEC is the fact that the space is not specific to design, but it touches upon a wide spectrum of industries. When we're asked to design, we design airports, buildings, and even cities," he explained.
Dar Ventures, formerly known as Cairo Angels, is running a six-month program to foster innovation in the Architecture, Engineering, and Construction (AEC) industry, which holds a significant market value of $12 trillion.
However, it only accounts for less than five percent of global venture activity.
The CEO of Acasia Group, Ranya Saadawi, highlighted the significant opportunity to empower early-stage AEC startups through an ad-hoc marketplace.
This initiative follows last year's launch of Makers, a construction technology accelerator program by Dar Al-Handasah in collaboration with SIAC and Flat6Labs for Egyptian startups.
Additionally, Dar Ventures has plans to expand its reach to Saudi Arabia.
Source: Dunya Hassanein, Wamda