Dr. Amr Talaat, Minister of Communications and Information Technology, met with more than 69 young entrepreneurs and founders of start-ups working in the fields of information and communication technology as part of the “Startups Day” activities run by the Center for Technological Innovation and Entrepreneurship “Tech” of the Information Technology Industry Development Authority “ITIDA.” At the Digital Egypt Creativity Center at Sultan Hussein Kamel Palace, the event coincides with the celebration of the International Day of Creativity and Innovation.
The meeting dealt with an overview of the success stories achieved by entrepreneurs, the emphasis on the challenges they face, and the key mechanisms needed to overcome them, as well as the discussion of the most prominent proposals to the sector of emerging technology companies and innovation-based entrepreneurship.
And in his word; Dr. Amr Talaat explained that this meeting comes within the framework of multiple meetings aimed at communicating with promising companies and entrepreneurs, especially that this meeting brings together 60 companies that have managed to attract investments worth $ 240 million in the past year ; He reviewed the efforts of the Ministry of Communications and Information Technology and its affiliates to support technological innovation and build digital capabilities.
Dr. Amr Talaat added that a technical training strategy is being implemented which includes a large number of initiatives in partnership with international companies and prestigious academic bodies to convey global experiences to the Egyptian youth, focusing on the disciplines most in the current demand is. and future labor market and diversity in education mechanisms to include hybrid education that combines traditional methods and digital learning.
He pointed out that the ministry aims to prepare generations of trained cadres capable of competing in the regional and global markets by providing specialized training, starting with the development of digital skills for schoolchildren through the Digital Misr Initiative and the introduction of our schools for applied technology, then programs for university students by Misr Informatics University and ending with the awarding of a master’s degree in advanced disciplines by the Digital Egypt Builders Initiative.
Dr. Amr Talaat pointed out that the training budget has been doubled 22 times in three years, rising from the training of 4 000 pupils with a budget of £ 50 million to a target of training 200 000 pupils with a budget of 1.1 billion pounds during the current financial year; Take note of the launch of the Our Digital Future initiative, which aims to empower young people from diverse academic backgrounds to gain leading-edge job opportunities in the field of information technology; Where $ 13 million was invested in training 80,000 people in the first issue of the Our Digital Future initiative, and 20,000 graduates succeeded in implementing $ 130 million worth of independent projects in one year; He stressed that the initiative aims to provide generations capable of building a digital Egypt, helping emerging companies find the skills they need, as well as attracting international companies to establish outsourcing centers in Egypt .
►Establish 8 Digital Egypt Creativity Centers, and are currently working to establish 14 others
Dr Amr Talaat also reviewed the Ministry’s most prominent achievements in terms of supporting technological innovation and entrepreneurship, where eight Egypt Digital Creativity Centers have been established in the governors, and 14 others are currently being established; He pointed out that the centers aim to provide technical training, develop digital and soft skills, and provide incubators for emerging projects in collaboration with major international companies specializing in technology incubators, and to provide business accelerate to manage these centers.
►The volume of investments in new businesses in Egypt has grown to $ 491 million, with 147 transactions in 2021
He explained that collaboration with the American University in Cairo takes place within the framework of his partnership with the Babson University of America to implement a training program for entrepreneurs and promising companies for a period of 3 months, and collaboration takes place with MIT University to work to accelerate the growth of the entrepreneurship sector in Egypt, in addition to the launch of a special strategy for the start-up sector In collaboration with Deloitte Consulting, and the launch of the digital Egypt strategy for the outsourcing industry; He referred to the growth in the volume of investments in start-ups in Egypt from $ 190 million, with 117 transactions in 2020, to $ 491 million, with 147 transactions in 2021.
Dr. Amr Talaat also confirmed that more than $ 2 billion has been invested in three years to develop the information infrastructure, which has contributed to advancing Egypt’s ranking to become the first in Africa in the average fixed internet speed, and is working to strengthen mobile networks by offering frequencies for companies and increasing the number of mobile tower numbers; Point out the efforts made within the framework of the preparation of legislation that supports the growth of the information and communication technology industry and simplifies procedures, as a protocol has been concluded with the Financial Supervisory Authority and the Investment Authority to support emerging companies in Egypt and to support and facilitate procedures for investors.
During the meeting, an open discussion took place between the Minister and the owners of start-up companies; Where young people have expressed their aspirations to grow and grow their business; The youth have made a number of proposals, notably the networking between university students and start-up companies with the aim of providing them with training grants within these companies, providing specialized training in advanced technology to make Egypt the leadership in these areas, and to pay attention to empowering women to become entrepreneurs in the field of information technology, and supporting women’s capabilities in marketing, email, launching an association for entrepreneurs, and raising mentors in the fields of artificial intelligence and emerging technologies.
A number of business owners have demanded the support of the ministry to facilitate communication with government agencies; Where he dr. Amr Talaat focused on coordination with ITIDA, which in turn will communicate with the relevant government agencies to convey the requirements of entrepreneurs and organize joint workshops.
Dr. Amr Talaat also confirmed that the ministry is studying the financing of a fund to invest in emerging companies in collaboration with the private sector.
In response to a question about the requirements of startups with large internet capacities; Dr. Amr Talaat reviewed the ministry’s efforts to establish a strong information infrastructure and noted that ITIDA can play the role of coordinating between start-ups and telecommunications companies to ensure that the requirements of emerging companies are met.
A number of young people discussed the importance of speeding up the activation of the electronic signature among citizens. Dr Amr Talaat explained the ministry’s efforts to disseminate the uses of the electronic signature and increase community awareness of its importance, as well as the preparation of the necessary infrastructure for its wide application.
The participants also pointed out the need to regulate data availability and provide mechanisms for beginners to verify the identity of their customers. Where Dr. Amr Talaat indicated that the Protection of Personal Data Act has been issued and the executive regulations are being reviewed in preparation for its issuance.
On the use of Internet of Things technology; The Minister indicated that a complex that includes everything related to electronic design and the Internet of Things will be located in the City of Knowledge in the New Administrative Capital, which will serve as a free zone through which components can be entered with simplified procedures.
Dr. Amr Talaat called on entrepreneurs to join civic organizations working in the telecommunications and information technology sector, where they organize beginners’ communication forums, in addition to arranging meetings for them with government officials.
The meeting was attended by Eng. Amr Mahfouz, CEO of the Information Technology Industry Development Agency (ITIDA), Sherine El Gendy, Assistant Minister for Strategy and Implementation, and Dr Hossam Othman, Adviser to the Minister for Technological Innovation, Electronic Industry and Training.