Three Iraqi Start-Ups get Seed Funding

By Ali Al-Makhzomy, for The Station. Re-published with permission by Iraq Business News.

Five One Labs recently hosted an online Start-up Showcase to celebrate the graduation of their first-ever Arabic incubator program in c.

Over 90 attendees joined the event from Iraq, Germany, USA and other places.

Ten of the entrepreneurs gave brief overviews of their businesses, and then answered audience questions. At the end of the event, Five One Labs announced that three startups would receive seed funding:

  1. Al-Ruaa for CNC, a company providing services, workshops, maintenance, installation and providing spare parts for the CNC machines, came in first place and won $15,000;
  2. For second place, EcoLift, a company providing an alternative power system (potential energy recovery system) to power elevators instead of using electricity, was awarded $10,000;
  3. And finally, Mosul Solar, a company providing and installing solar cells for houses, was awarded $5000.
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