June 24, 2024

ITIDA partners with Techne for corporate innovation program

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This MOU outlines a three-year program aimed at integrating AI into the fabric of our economic and social ecosystems, creating a sustainable, tech-driven future. Image Courtesy- ITIDA
This MOU outlines a three-year program aimed at integrating AI into the fabric of our economic and social ecosystems, creating a sustainable, tech-driven future. Image Courtesy- ITIDA

In an era where technological innovation is the backbone of economic growth and development, Techne Summit, announces a partnership with the Information Technology Industry Development Agency (ITIDA). This collaboration, formalized through the signing of a Memorandum of Understanding (MOU), is set to revolutionize the landscape of Artificial Intelligence (AI) across Africa, with a specific focus on Egypt.

Our newly unveiled initiative, ‘AI Accelerate: Nurturing Tomorrow’s Tech Champions in Africa,’ is designed to catalyze the growth of AI-driven enterprises and empower entrepreneurs across the continent. This MOU outlines a three-year program aimed at integrating AI into the fabric of our economic and social ecosystems, creating a sustainable, tech-driven future. The initiative is more than just a testament to our commitment to innovation; it is a strategic move to foster AI-driven development and growth.

ITIDA’s backing is pivotal in this endeavor. As a governmental entity dedicated to boosting the IT industry, ITIDA brings a wealth of resources, regulatory support, and a network of international connections to the table. Their support encompasses a broad spectrum of facilitations that enhance our capacity to serve the burgeoning AI sector in Egypt and beyond.

ITIDA and Techne logo

The heart of our initiative is the Corporate Innovation Program, which serves as a bridge connecting AI startups with established corporates. This program is designed to do more than just provide investment readiness; it offers a comprehensive ecosystem of support including advanced mentorship, technical resources, and strategic business guidance. Corporate partners like Nvidia and Novartis play a crucial role here, leveraging their global expertise and resources to help startups refine their innovations and scale effectively.  

Since its inception in 2020, the Techne Corporate Innovation Program has successfully collaborated with global leaders such as Roche in the Disruptors Lab, Inertia, EdVentures, PepsiCo, and Nestlé. These programs have been instrumental in supporting numerous startups, driving significant impacts in various sectors. This ongoing support from our corporate partners has been a cornerstone of our strategy to nurture and grow the tech ecosystem.

Our collaboration with ITIDA amplifies the impact of these corporate partnerships. It enables us to extend our reach, offering AI startups unparalleled access to technological advancements, market opportunities, and a network of potential investors and collaborators. This strategic alignment with ITIDA not only enhances our capabilities but also solidifies our commitment to making Egypt a hub of AI innovation in Africa.

As we move forward with ‘AI Accelerate,’ we are not just investing in technology; we are investing in people—the bright minds and visionary entrepreneurs who will lead the technological transformation of Africa. Our program aims to create an inclusive environment where innovation thrives and is accessible to all, contributing significantly to the economic prosperity outlined in Egypt’s 2030 Vision.

This partnership marks the beginning of a new chapter in African tech innovation, one where AI is not just a tool for economic growth but a cornerstone of sustainable development and human progress.

The announcement of this partnership was made during the 3rd edition of Techne Summit Cairo, held at the historic Creativa Innovation Hub, located in the Palace of Sultan Hussein Kamel. The event featured opening remarks from H.E. Dr. Amr Talaat, Minister of Communications and Information Technology, H.E. Ambassador Håkan Emsgård, the Swedish Ambassador to Cairo, and Mr. Tarek El-Kady, Co-founder and CEO of Techne Summit. The summit brought together prominent figures, officials, experts, and entrepreneurs, especially youth, to discuss and promote technological innovation and entrepreneurship.

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