Inspiring Innovation and Developed Industry
With an export volume of USD 3.26 billion and over 90,000 offshoring jobs, the ICT sector is a major exporting sector and one of the largest contributors to the country’s GDP that reached 3.5% in 2017. Egypt has a well-developed ICT market, with a shift in its services portfolio as providers move from multilingual contact center services to high-value niche services, such as product development and R&D.
The IT innovation arena in Egypt is flourishing, with several success stories of small businesses securing millions of dollars of investments from Europe, the US, and the Middle East and successfully offshoring IT services to EMEA. The Innovation Clusters (iCi) is an initiative, based on a PPP model, was launched to create an enabling ecosystem for tech innovators within tech parks in tier-2 cities.
Since its establishment in 2010, the Technology Innovation and Entrepreneurship Center (TIEC) has been acting as a catalyst to drive innovation and entrepreneurship in the local ICT industry for enabling Egypt to become the leading regional hub for ICT-based innovation and entrepreneurship.
TIEC works with leading VCs, incubation hubs, global technology players and international industry to strategize, facilitate, and promote innovation, entrepreneurship and create intellectual property in ICT and its applications. To date, TIEC has trained more than 8000 youths, incubated more than 100 small businesses and startups, accelerated the business of over 300 companies and organized 15 competitions and hackathons.