ITIDA and Techne sign Memorandum of Understanding for Three-Year Corporate Innovation Program TradingView News

Cairo, Egypt: At a time when technological innovation is the foundation for economic growth and development, Techne Summit, a leader in tech entrepreneurship development, is pleased to announce a groundbreaking partnership with the Information Technology Industry Development Authority (ITIDA).Formalized with the signing of a Memorandum of Understanding (MOU), the collaboration is set to be a game-changer for Artificial Intelligence (AI) across Africa, with a particular focus on Egypt.

Our newly announced initiative, “AI Accelerate: Developing Tomorrow's Tech Champions in Africa,” aims to accelerate the growth of AI-driven companies and support entrepreneurs across the continent. The MOU outlines a three-year program aimed at integrating AI into the fabric of economic and social ecosystems to create a sustainable, tech-driven future. The initiative is not only a testament to our commitment to innovation, but also a strategic move to foster AI-driven development and growth.

ITIDA's support will be crucial in this effort. As a government agency committed to promoting the IT industry, ITIDA offers extensive resources, regulatory support, and a network of international connections. ITIDA's assistance will include a wide range of assistance to increase our capacity to contribute to the burgeoning AI sector in Egypt and abroad.

At the heart of our efforts is our Corporate Innovation Program, which serves as a bridge between AI startups and established corporations. The program is designed to provide not only investment readiness but also a comprehensive support ecosystem that includes advanced mentorship, technical resources, and strategic business guidance. Corporate partners such as Nvidia and Novartis play a key role here, by leveraging their global expertise and resources to help startups refine and effectively scale their innovations.

Since its launch in 2020, Techne Corporate Innovation Programs have successfully collaborated with global leaders such as Roche, Inertia, EdVentures, PepsiCo and Nestl in the Disruptors Lab. These programs have supported numerous startups and made a significant impact in various sectors. The ongoing support from our corporate partners is a cornerstone of our strategy to nurture and grow the technology ecosystem.

“Our collaboration with ITIDA expands the impact of these corporate partnerships, broadening our reach and providing AI startups with unparalleled technological advancements, market opportunities, and access to a network of potential investors and collaborators. This strategic alliance with ITIDA not only strengthens our capabilities, but also reinforces our commitment to making Egypt the hub of AI innovation in Africa.”

With AI Accelerate, we are not just investing in technology, but in people: the bright minds and visionary entrepreneurs who will lead Africa's technological transformation. Our program aims to create an inclusive environment where innovation can thrive and be 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 technological innovation in Africa, one in which AI is not just a tool for economic growth, but a cornerstone of sustainable development and human progress.

The partnership was announced at the 3rd Techne Summit Cairo, held at the historic Creativa Innovation Hub in the Sultan Hussein Kamel Palace. The event featured opening remarks from His Excellency Dr. Amr Talaat, Minister of Communications and Information Technology, His Excellency Hukan Emsgold, Ambassador of Sweden to Cairo, and Tarek El Kadi, co-founder and CEO of Techne Summit. The summit brought together luminaries, government officials, experts and entrepreneurs, especially youth, to discuss and promote technology innovation and entrepreneurship.

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