The Information Technology Industry Development Agency (ITIDA) decided to establish two innovation centres in the technological zones in Borg El-Arab and Assiut, in coordination with the head of the Technology Innovation and Entrepreneurship Centre (TIEC) Hossam Osman.
An official at ITIDA said that the establishment of the two innovation centres will cost EGP 100m. The official, who requested to remain anonymous, said that the new Technology Innovation Centre in Borg El-Arab will serve young people and entrepreneurs in the governorates of Alexandria, Matrouh, and Beheira. The other centre in Assiut will serve youth in Minya, Sohag, and the Red Sea area. ITIDA’s plan to establish technology innovation and entrepreneurship centres will take five years, and aims to spread the concept of creativity and entrepreneurship in various governorates to support start-ups.
The Ministry of Communications and Information Technology said that about 55% – 60% of the construction in the technological parks has been completed in Borg El-Arab and Assiut.
The construction of the two areas is expected to be completed by the end of this year. The first phase of the new technological parks in Borg El-Arab and Assiut are worth EGP 450m, while the first phase of the technological areas in 10th of Ramadan City and Beni Suef cost EGP 250m, totalling EGP 700m.
Wady Alnil for General Contracting is completing the construction works of the first phase in Borg El-Arab and Assiut, targeting to establish 22 buildings in the two areas before the end of 2016.
The Ministry of Communications and Information Technology launched a new affiliate called Silicon Waha in May, with a capital of EGP 1bn for the establishment and operation of technological parks. Silicon Waha is an Egyptian joint stock company, established in accordance with Law No.159 of 1981, and is based on a partnership between ITIDA and the New Urban Communities Authority, which is affiliated with the Ministry of Housing.