Fintech, renewable energy and AI startups among the most attractive to investors this year –Flat6Labs

Fintech, generative AI, e-commerce enablement, healthtech and renewable energy tech startups are among the most well-positioned to attract investments over the coming year, leading seed and early-stage venture capital Flat6Labs General Manager Ryaan Sharif said in a press release (pdf). These startups have “based their disruptive innovations around sectors that the government is heavily backing,” he said.

Data from the past two years indicate that healthtech startups have been the most common applicants eyeing investments through Flat6Labs’ Ignite incubator program, the press release adds. Applications from fintech, foodtech, and transport and logistics startups followed with a nearly equal amount of applications, the VC said.

More interesting data points from Flat6Labs:

• The VC has seen the number of startups outside of the MENA region applying to Ignite jump 284% from June 2021 to October 2023;
• Most of the applications the VC received were UAE-based startups, which doubled across the two-and-a-half-year window, with Egyptian startups coming in second;
• Women-founded startups made up 32% of program applicants, up 244% over two and a half years.