Committed to empowering, connecting, and investing in startups, Plug and Play Egypt, global corporate innovation platform, and Egypt’s "ITIDA ", the executive IT arm of the Ministry of Communications and Information Technology, have officially announced the latest founding partner for the Smart Cities open innovation platform in Cairo.
Global innovation enabler, Plug and Play, along with the Information Technology Industry Development Agency (ITIDA) have announced their partnership with the USAID Economic Governance Activity, to launch an open innovation platform for startups focusing on digital transformation, and bring the unrivaled tech expertise of Silicon Valley to Cairo.
Applications are now open for Plug and Play Egypt’s Smart Cities hub. Startups accepted will be part of the very first batch of the 3-month in-person program starting in March 2022. The ventures team of Plug and Play and executives from both founding partners will select 20-30 Egypt based companies that will go through batch 1, a program spanning over two tracks: incubation and acceleration.
“We’re delighted to open the call for entries to our Smart Cities innovation hub in Egypt. The startup scene in Africa and Egypt is growing by leaps and bounds, and we’re thrilled to partake in this dynamic and support future-forward ideas and solutions by creating an enabling environment for tech- and innovation-driven projects in the region,” said Aziz El Hachem, Director of Plug and Play Egypt.
During the three-month program, startups will receive free office space at the Creativa Innovation Hub in Sultan Hussein Kamel Palace in Cairo, where they will have the opportunity to meet and create business opportunities with top tier Egyptian corporations, investors and mentors. Other benefits include access to Plug and Play’s global network, coaching by local and international mentors and advisors, corporate workshops, frequent pitch events and a large-scale Demo Day pitch event for their graduation. For non-Egyptian startups joining the program, Plug and Play’s ecosystem will make it easier to find the right partners to expand their business in the region.
There is no equity or capital requirement for startup participation and potential investment will be decided on between Plug and Play, the partners, and the startups individually. As part of the platform’s mission, Plug and Play Egypt and its founding partners have defined key verticals and tech focuses of interest. Startups with solutions in Fintech, Logistics, Govtech, and Healthcare should apply before February 28th.
Information Technology Industry Development Agency is the MCIT’s executive arm for spearheading IT development in Egypt. ITIDA is Egypt’s engine for spreading technology, driving innovation, and supporting foreign investors seeking to enhance their global offering from Egypt, in addition to strengthening Egypt’s position as a global hub for IT and IT enabled Services. The Agency was founded in 2004 with the mission to build and champion a world-class IT industry that will play an increasingly important role in Egypt’s economic growth.
Plug and Play
Plug and Play, a global innovation platform, leverages accelerator programs, corporate innovation services, and its independent VC arm to speed up tech advancement progress. Since it began in 2006, the Silicon Valley-based platform’s programs expanded globally in over 30 locations, giving startups necessary resources to find: mentorship, funding, and business development opportunities almost anywhere without cost or equity taken. With the largest tech startup/scale-up network and 450+ official corporate/government partners, we created the ultimate innovation ecosystem in over 18 industries. Startups from our independent VC arm raised USD 9B+ in funding, with over a dozen successful unicorn portfolio exits including Dropbox, PayPal, Guardant Health, Honey and Lending Club.
USAID/Egypt Economic Governance Activity (EGA)
Economic Governance Activity, a USAID funded project, is part of the bilateral agreement between Government of Egypt (GoE) and United States on inclusive economic governance (Grant Agreement no. 263-306 signed on September 30, 2019, and issued through Presidential decree no. 643 for 2020). EGA is a five-year activity (2020-2025) which DAI Global LLC implements. EGA supports the investment climate in Egypt through enhancing economic governance and promoting administrative and institutional development in line with Egypt’s Sustainable Development Strategy (SDS) 2030; National Anti-Corruption Strategy; and the Administrative Reform Vision of Egypt. In doing so, the project supports the efforts of GoE to enhance quality of public administration through adopting more inclusive and efficient tools that reflect the needs and priorities of citizens and the private sector, thus promoting a favorable investment climate in Egypt.