Egyptian start-up 1Trolley, is among the winners of the first Start-up Innovation Challenge initiated by the European Bank for Reconstruction and Development (EBRD).
1Trolley is an on-demand service that purchases, picks up, and delivers convenient goods that are ordered from one’s neighbourhood stores through the mobile app. The platform drives digitization of its partners from demand generation to last mile experience, enabling bullet delivery of products & instant access to various services.
Judges had to choose between 226 participants from 30 countries where the Bank invests. The competition targeted high-potential scalable start-ups that have innovated their business models in response to the coronavirus pandemic and was organised entirely online.
The winners share among themselves US$ 500,000 of mixed cash reimbursement and advisory vouchers within the framework of the Star Venture programme including business diagnostics as well as tailored one-on-one technical advisory support, mentoring and access to international investors.
Other winners were Otsimo from Turkey, an education platform for children with special needs, Fazla G?da from Turkey, a surplus management platform which helps to mark products for expiry, Plant an App from Romania, a low-code development platform that accelerates delivery of software systems by a factor of up to 40 times and EMBIO Diagnostics Ltd from Cyprus, a multi-use handheld chemical analyser that within minutes can accurately detect harmful chemicals in food.
The EBRD has been promoting and supporting start-ups in its countries of operations for over 25 years through advisory and investment vehicles including the Star Venture Programme, the Early-Stage Innovation Facility and the Venture Capital Investment Programme.
The Start-up Innovation Challenge was supported by donor funds provided by the Republic of Korea, and in Egypt by the EBRD Small Business Impact Fund (Italy, Japan, Korea, Luxembourg, Norway, Sweden, Switzerland, the TaiwanBusiness – EBRD Technical Cooperation Fund and the United States).