Egyptian Tech Startups to Show off and Hang out with 10 Global VCs and Investors

May 31 2021


The Minister of Communications and Information Technology Amr Talaat and the Minister of Trade and Industry Niven Gamea have witnessed the signing of a Memorandum of Understanding (MoU) between the Information Technology Industry Development Agency (ITIDA), the Industrial Modernization Centre (IMC) and Siemens Egypt, to establish and equip the first Industry 4.0 Innovation Center (IIC) in Egypt, in the Knowledge City at the New Administrative Capital.

The IIC aims at raising awareness of the Fourth Industrial Revolution technologies and practical applications in smart factories, adopting advanced technology in local manufacturing, and providing training in automation and digitization techniques. This is in addition to providing the necessary support in the areas of stimulating industrial innovation and designing smart factories in a way that contributes to the transfer of knowledge and the development of the local industrial sector.

The MoU was signed by ITIDA CEO Amr Mahfouz, IMC Executive Director Mohamed Abdel Karim and Siemens CEO Mostafa El-Bagoury.

Talaat ascertained that this cooperation entails very significant elements in MCIT strategy, including fostering creativity, developing innovative work and creative skills, and enhancing electronics manufacturing. Consolidated efforts are made to promote Egypt’s position in the field of electronics designing and manufacturing. He stated that serious steps have been taken in promoting the electronics industry in Egypt during the recent period, the most prominent of which was the signing of a contract with an international company to manufacture tablets in Egypt. Within the framework of a committee that includes members from MCIT, the Ministry of Trade and Industry and a number of concerned parties, recommendations based on scientific foundations are being developed to be submitted to the Prime Minister and the political leadership to promote the field of electronics designing and manufacturing in Egypt.
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Source: Egypt Innovate