Technology Incubation Program
Egypt’s IT sector is forecast to grow from 889 million US Dollars in 2006, to 1.6 billion US Dollars in 2011; expanding its already robust infrastructure to support startups and small to medium businesses on a national and international level. Owing to its tax, custom and financial sector reforms, Egypt is in a strong position to provide outstanding incubation management to seed and startup IT companies and has set-up the Technology Incubation Program(TIP) to help support this development.
The aim of the Program is to make an impact on new companies using state-of-the-art-technology, and to contribute to economic growth of Egypt by creating sustainable job opportunities and increasing patent recognition. ITIDA hopes that through the Incubation Program it will boost the country’s export of ICT products globally and increase Egypt’s attractiveness to foreign investors.
TIP has been designed to identify potential innovations in the ICT sector and encourage a culture of entrepreneurship among Egypt’s annual 330,000 graduates. ITIDA’s role is to qualify candidates of potential for incubation and support them through the program resulting in the expansion of startups and small businesses.
Partners and Network of Incubations:
INTEL Software Partner
There are currently number of active companies in the Technology Incubation Program in Smart Village, these being:
There are also two graduates:
In total, there are nearly 50 employees in incubation management program of which 85% are recent graduates. In addition to the role model incubator managed by TIP, there are four other projects representing first phase of the MUSCAT incubator co managed by ITIDA including two telecom projects and two software solutions.
Increasing our outreach to other governorates is in progress with Assiuyt University, Mansuora University as well as Cairo University all being our short to medium-term targets.
ITIDA supports incubators by providing furnished office space in Smart Village including PCs, laptops, and other office equipment. Incubators receive full training and consultation, focused on technical, project management, HR, financial, marketing, business development, and networking. The incentive packages also include payment of salaries of up to 25,000 Egyptian Pounds, based on the salary scale. Following the approval of the Technology Incubation Management to hopeful candidates, ITIDA supports startup conferences and international exhibitions worldwide.
Not content with its current incubation management program, there are also plans to expand the project, reaching out to graduates and startups at Cairo University, Mansoura Governorate and Asuit Governorate.
For further enquiries on ITIDA’s Technology Incubation Program, please visit this link http://www.tip-eg.com/, or for more general information, please contact us.