CAIRO, September 30, 2021 / PRNewswire / – Global Plug and Play Innovation Platform Partners with Egyptian Information Technology Industry Development Agency (ITIDA) to Launch Open Innovation Center in Cairo. The aim is to establish a strategic partnership for egypt ecosystem of entrepreneurship and startups.
Plug and Play Egypt is expected to launch in November 2021 and will initially focus on digital transformation in fintech, insurance, energy, IoT, mobility, health and sustainability, among other industries.
Through this partnership, Plug and Play Egypt will organize two acceleration programs and two incubation programs each year in which hundreds of startups will be evaluated and the most promising companies will be selected by the partner companies to join each batch. Our platform in Egypt will provide business development, mentoring, investment and networking opportunities for relevant startups, investors and industrial companies.
A signing ceremony between the CEO of ITIDA, Amr Mahfouz, and the CEO and founder of Plug and Play Said Amidi in the presence of the Minister of Communications and Information Technologies Amr Talaat.
Following the signing ceremony, Minister of ICT Amr Talaat stressed that the Ministry of Communications and Information Technology (MCIT) is keen to promote entrepreneurship and foster projects focused on technology and innovation.
Talaat added that the deal would bolster MCIT’s efforts to advance entrepreneurship through a partnership with one of the leading companies specializing in incubating and accelerating startups. In addition, he said that MCIT is establishing Creativa Innovation Centers nationwide to promote entrepreneurship and empower university students and entrepreneurs by developing their innovation skills and supporting their ICT projects.
The CEO of ITIDA pointed out that Plug and Play is one of the world leaders in the management of innovation clusters. He added that the presence of the Company in Egypt would add value to the startup ecosystem, thus positively reflecting regional and international relationships. He also clarified that egypt The global position and ranking is expected to be higher this year thanks to the boom in the entrepreneurship scene and the increase in investment in Egyptian startups year by year, which is attributed to the investment of the government in the creation of Creativa Innovation Hubs to equip young people with technological innovation and freelance skills and encourage technological startups.
According to Said Amidi, Founder and CEO of Plug and Play, “We are delighted to launch our office in Egypt. We would like to thank the Minister of Communications and Information Technology for his support on this journey as we look forward to incubating and accelerating Egyptian startups. “
According to Sobhan Khani, Vice President of Plug and Play, “The projection is that egypt the economy will be one of the top 10 economies in the world by 2030. Talent and entrepreneurial culture in Egypt make it an incredible opportunity for us to establish this office with the help of ITIDA. We are extremely excited about this launch. “
About Plug and Play
Plug and Play is the leading platform for innovation, connecting startups, corporations, venture capitalists, universities, and government agencies. Based in Silicon Valley, we are present in more than 35 sites on five continents. We deliver corporate innovation programs and help our partner companies every step of their innovation journey, from training to execution. We also run startup acceleration programs and have built an internal VC to drive innovation across multiple industries where we have invested in hundreds of successful businesses including Dropbox, Guardant Health, Honey, Lending Club, N26, PayPal and Rappi. For more information visit https://www.plugandplaytechcenter.com/
The Information Technology Industry Development Agency (ITIDA) is the executive branch of the Egyptian Ministry of Communications and Information Technology to lead the development of IT in Egypt.
ITIDA is egypt engine to disseminate technology, stimulate innovation and support foreign investors seeking to improve their global Egypt, the global hub of IT / ITES and technological innovation. ITIDA was founded in 2004 with the mission to build and defend a world-class IT industry that will play an increasingly important role in egypt economic growth.
SOURCE Plug and Play