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A strategic framework is adopted to present concrete steps that the TIEC together with other stakeholders will undertake to significantly improve the level of innovation in the ICT sector, to build on work done over the last decade aiming to make Egypt an attractive destination for FDI in the ICT sector. Six strategic “pillars” cover a series of initiatives designed to make innovation and entrepreneurship the focus for Egypt’s ICT industry in the coming period.
These pillars cover the strategy axes that TIEC would adopt based on benchmarking Egypt to other countries in terms of its innovative capabilities, the SWOT analysis, and best practices adopted by highly innovative nations.
The Technology Innovation and Entrepreneurship Strategy (TIES) is based on a “six-pillar” model containing:
- Creating and nurturing a culture of innovation.
- Branding Egypt as a hub for ICT innovation.
- Encouraging of intellectual property creation and exchange.
- Developing technology specific clusters.
- Creating an appropriate business environment.
- Enhancing the innovation human resource pool in terms of size and quality.
In addition, the TIEC has four main goals:
- To enable ICT companies to establish, operate and innovate in Egypt.
- To entice foreign and local ICT companies in Egypt to generate, enrich and expand innovative ideas.
- To build Egypt’s brand as a regional innovation hub.
- To engage the ecosystem of stakeholders in generating, financing, supporting and deploying ICT-related innovations.
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The TIEC has elaborated 13 initiatives responding to the goals of the strategy. The 13 initiatives can be broadly categorized in three layers: Establishing the foundation of innovation and entrepreneurship; empowering businesses; and recognizing innovation and entrepreneurship.
Initiative 1: Innovation assessment and certification
The purpose of this initiative is to assist companies to develop their innovation management capabilities, to increase their competitiveness and to grow more effectively.
Initiative 2: Egypt’s ICT innovation and entrepreneurship platform
The purpose of this initiative is to connect nodes in the national innovation ecosystem and to be a single point of access for businesses and entrepreneurs, whereby they can learn about innovation-related best practices, and find practical support.
Initiative 3: Capacity building through education and training
The purpose of this initiative is to provide education and training to academics and researchers in the areas of innovation and entrepreneurship. This will enable university students and specialists to establish a foundation on which they would build innovative businesses.
Initiative 4: Policy acceleration and advocacy
The purpose of this initiative is to influence and advocate for significant policy changes that would boost innovation and entrepreneurship in Egypt. As strong policy advocacy system is the hallmark of successful agencies involved in any form of economic or technological development. The TIEC will provide the MCIT with continuous feedback on policy issues that affect the competitiveness of the entrepreneurial environment, actions required to attract innovation-driven FDI in new or existing sectors, and actions required to enhance the country’s innovation competitiveness relative to regional and international competition.
Initiative 5: Start-up support
The purpose of this initiative is to promote and empower entrepreneurship in the ICT sector by providing services such as incubating innovative and commercially promising start-ups, training, coaching, and incentives to attract entrepreneurs abroad to establish businesses in Egypt.
Initiative 6: Innovation support for businesses
The purpose of this initiative is to promote and empower entrepreneurship in the ICT sector by providing services such as incubating innovative and commercially promising start-ups, training, coaching, and incentives to attract entrepreneurs abroad to establish businesses in Egypt.
Initiative 7: Public-private funding
The purpose of this initiative is to attract foreign investors and potential partners to invest in Egypt’s ICT sector in order to minimize the equity gap.
Initiative 8: Technology-specific clusters and technology observatory
The purpose of this initiative is to identify forward-looking ICT trends and assess their potential economic impact. To that end, technology-specific competency centers are established in promising technology fields.
Initiative 9: Intellectual property exchange
The purpose of this initiative is to serve as a unique clearinghouse and facilitator, reducing the costs of registering and exchanging intellectual property (IP). Also it seeks to provide practical guidance to technology companies on IP issues.
Initiative 10: Multinational companies: Attraction and encouraging collaboration
The purpose of this initiative is to attract high value foreign direct investment and provide a range of incentives to those considering FDI to Egypt. It also involves collaborating with existing MNCs and drives a learning process taking the best from MNCs and incorporating into the local innovation process.
Initiative 11: Branding
The purpose of this initiative is to firmly establish Egypt as an “innovation destination” by developing an “Egypt equity brand”. Branding is crucial to gaining critical mass, along with visibility on the global map.
Initiative 12: Celebration of innovation and entrepreneurship
The purpose of this initiative is to create a culture that celebrates innovation and recognizes key achievements.
Initiative 13: Awareness
The purpose of this initiative is to promote and raise awareness of innovation and entrepreneurship within universities and the ICT sector in Egypt. |
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