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President of the Academy of Scientific Research and Technology (ASRT) of Egypt, Mahmoud Sakr revealed recently that 55 companies were supported by eight incubators within the National Technological Incubators Programme (Intaleq)
President of the Academy of Scientific Research and Technology (ASRT) of Egypt, Mahmoud Sakr revealed recently that 55 companies were supported by eight incubators within the National Technological Incubators Programme (Intaleq).
Intaleq comprises 43 incubators, and they provide support to not just entrepreneurs but also to students whose graduation projects have the potential to create innovation and disruption.
Minister of Planning and Economic Development Hala al-Said stated in November that the FY2022/23 plan was intended to direct investments amounting to LE 67.1 billion for the communications and information technology (ICT) sector, compared to LE 58.2 billion in the previous fiscal year.
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He also revealed that the percentage of the ICT sector investments in the total investments of the plan amounted to 5%. Further, the sector’s production was expected to increase by about 20% at current prices, and by 14.3% at constant prices. As for its contributions to the GDP, it is estimated to range between 2.9% and 3%.
