The ICT Minister Atef Helmy witnessed today the ceremony organized by the Technology Innovation and Entrepreneurship Center (TIEC), affiliated to the Ministry of Communications and Information Technology (MCIT) to give out awards of Egypt Innovate ICT Award competition, launched last January with the aim to unveil latest innovation for Egyptian ICT companies; and to grant support to promote innovation for companies, particularly winners.
The competition comes within the framework of MCIT strategic plan to support innovation in ICT as an active tool in the society to largely provide young innovators with job opportunities and increase exports.
A number of 132 applied for the competition of which 42 won with a total award value of around 4 billion and 100 thousands EGP. The prize for each winner oscillated from 80 to 120 thousands EGP.
TIEC terms and conditions stipulate that winning companies are to spend the amount of prizes on building innovative skills and hiring new graduates, thus providing new opportunities for qualified graduates and pumping new technology services and products in the Egyptian market.
TIEC Chairman Hossam Osman explained that Egypt Innovate ICT Award 2014 aimed to draw the community’s attention towards the value of innovation in developing the Egyptian economy, present good examples for youth and startups and showcase local companies’ efforts to investors in ICT industry, thereby strengthening competitiveness of the Egyptian companies in the coming period.
TIEC adopts a comprehensive strategy for building companies’ capacities, through organizing training courses for Egyptian companies in ICT sector in the field of innovation management: a real value to the competitive skills of companies locally and internationally, as well as boosting the economic growth of the ICT market in Egypt.