UNDP, ITIDA, launch new project to accelerate digital innovation in Egypt

UNDP, ITIDA, launch new project to accelerate digital innovation in Egypt

Egypt - The United Nations Development Programme (UNDP) and the Information Technology Industry Development Agency (ITIDA), affiliated to the Ministry of Communications and Information Technology, signed a new project agreement Saturday in Cairo’s Smart Village.

Alessandro Fracassetti, UNDP Egypt Resident Representative, joined Ahmed Alzaher, CEO of Information Technology Industry Development Agency (ITIDA), to sign the new agreement.

The new five-year project brings financing opportunities and mentorship into Egypt’s tech sector, to its innovators and entrepreneurs that could open doors to new and exciting advancements, according to Fracassetti.

“With our signatures today, we will embark on the next phase of reinforcing the ICT landscape in Egypt,” said Fracassetti. “This new project helps Egypt to keep pace with both demand and ambition for rapid digital transformation, which has the potential for a multiplier effect on the development goals like economic improvements, climate change mitigation, and boosting women’s economic empowerment.

With the Cairo start-up ecosystem valued at $8.3bn, there is untapped potential for talent and ideas to contribute to Egypt’s digital space.”

Startup Genome, an international innovation policy and research firm values the Cairo start-up ecosystem at $8.3bn over the period of January 2020 to December 2022.

The new project, “Maturation of ICT-enabled Innovation-driven Entrepreneurship Ecosystem”, was designed to