The Information Technology Industry Development Agency (ITIDA), represented by the Technology Innovation and Entrepreneurship Center (TIEC), signed, on February 13, a contract to operate and manage an innovation cluster in Borg Al Arab Technology Park, in partnership with an alliance represented by the Egyptian Information Telecom Electronics Software Alliance (EITESAL). Signing the contract is part of ITIDA strategy to deploy innovation and entrepreneurship ICT projects, through the formation of innovation clusters in partnership between the public and private sectors.
The alliance consists of the Academy of Scientific Research and Technology (ASRT), Alexandria University, Egypt-Japan University of Science and Technology (E-JUST) and the Arab Academy for Science, Technology and Maritime Transport (AASTMT). The alliance also consists a number of private companies including Endure Capital, Innoventures, eSpace Technologies, Itqan For Smart Solutions, New PC Planet, Bright Skies, Mentronix, Si-Ware, Hadath, Sawaed for electronic development, the Academy for Communication and Information Technology and IBM.
The signing of the operation contract is within the launch of the first phase of iCluster Initiative (iCi), which aims to establish two innovation clusters, in Alexandria and Assiut, with a total budget of fifty million Egyptian pounds within five years. The cluster will foster technological development and economic development, pave the way for creative ideas and successful companies and create employment opportunities each in its geographical scope.
The Innovation Cluster targets pumping investment of 50 million Egyptian pounds, with 80 companies established over 60 months. This is in addition to educating 25000 pioneers and innovators, training 5000 of them, while selecting 1000 of them to establish companies, creating 10 technological products to be marketed globally, and issuing 10 patents.
Innovation clusters aim to enhance joint research and development between industry and academia entities, train and develop human resources. This is in addition to organizing contests of discovering innovators and entrepreneurs, supporting the development of Fast Prototyping, embracing startups, and providing guidance, co-working spaces, entrepreneurship accelerators and awareness and networking opportunities.