ITIDA, Plug and Play sign agreement to boost Egyptian tech ecosystem

Sep 27 2021

Egypt’s Information Technology Industry Development Agency (ITIDA) and the company Plug and Play have inked an agreement to establish a strategic partnership boosting Egypt’s entrepreneurship and startup ecosystem, ITIDA announced on Thursday.

The agreement was signed by ITIDA CEO Amr Mahfouz and Plug and Play CEO and Founder Saeed Amidi, in the presence of Minister of Communications and Information Technology (MCIT) Amr Talaa.

The three-year agreement comprises launching an innovation platform for startups in Cairo focusing on digital transformation, and a program for accelerating 60 growth-stage startups and incubating 60 early-stage startups. The agreement eyes to attract $20 million of investments in the beneficiary technology startups while creating 500 job opportunities.

It also aims to create a vibrant startup community at the Creativa Innovation Hub in Sultan Hussein Kamel Palace in Cairo and cement Egypt as the premier centre for innovation-driven entrepreneurship in the Middle East and North Africa (MENA) region.

Source: WAMDA