November in Review: Investment and Innovation Continues

November has seen no shortage of exciting developments in Egypt’s IT, technology, and startup ecosystems, as the sectors continue to attract investment, accolades, and global interest. As ITIDA works diligently with stakeholders to deliver on the Digital Egypt Strategy for Offshoring 2022 – 2026, the field is buzzing with new Egyptian excellence.

Egypt’s Supportive Government 

Continuing their visits to tech industry hubs that exemplify everything Egypt has to offer for global players, Egypt’s Prime Minister, H.E. Dr. Mostafa Madbouly, and Minister of ICT, H.E. Dr. Amr Talaat and ITIDA CEO, Engineer Ahmed El Zaher, headed to East Cairo to discover the Egyptian talents pool’s remarkable contributions in transforming Egypt into a global business services hub. Visiting the likes of Capgemini, Amazon, Pepsico, PwC, Siemens and Geidea, H.E. Madbouly and H.E. Talaat expressed their pride in Egyptian talents – from entry-level CX agents to advanced computer scientists – and reiterated that capacity building in the digital space is a key driver of the Egyptian economy. “Global industry giants and high-tech companies from all over the world are reaping the benefits of working with Egyptian talents, from entry-level CX agents to subject matter experts' engineers, and programmers. This visit has confirmed that Egypt’s human resources are among the best in the world,” said H.E. Madbouly.

Egypt Climbs the Ranks of the Offshore BPO Confidence Index

Ryan Strategic Advisory and Cognitive Copy  have released the much-anticipated annual Offshore BPO Confidence Index and Egypt is ticking all the right boxes. Through surveying more than 250 global nearshore and offshore BPO leaders, the study has measured the experts’ first-hand experience across seven categories: the Local Labour Market, Infrastructure, Commercial Property, Political Stability, Public Security, Economic Stability, and, of course, the BPO Ecosystem.

Egypt ranked an impressive third place among 17 countries measured, with an overall Global Confidence Rating of 83.8%, thanks to Egypt’s impressive infrastructure and commercial property, as well as, of course, the incredible local labour market which ranked second in this category. Read the full report here.

European High-Tech Powerhouses Inaugurate Egyptian Expansion

Exemplifying exactly why Egypt ranks so favorably for offshoring, Cairo’s high-tech offering has expanded this month with French ITS giant Capgemini formally opening its new local headquarters, and German automotive software stalwart Vehiclevo inaugurating a new office to increase its presence in the country.

Capgemini ’s new Egypt HQ builds on its previous expansion into Egypt in September 2022. This state-of-the-art facility, designed with cutting-edge technology, accommodates 1600 of Egypt’s finest multilingual tech talents, strengthening Egypt's role as a critical hub for outsourcing and digital transformation services for Europe, the Middle East, and North America.

Meanwhile, Vehiclevo ’s new facility, known as the Cairo Competence Center, already employs 75+ Egyptian professionals making a mark in software testing and the mastery of electronic control units from the upscale new office in west Cairo. 

ITIDA Signs MoU with Major Electronics Players

In line with The Ministry of Communications and Information Technology (MCIT), Egypt and ITIDA’s ‘Egypt Makes Electronics’ initiatives which aim to develop Egypt into a regional and global hub for advanced electronics design and manufacturing in Arab, African, and European markets, before the end of 2030, ITIDA CEO Engineer Ahmed El-Zaher has signed MoUs with American company Synopsys Inc and their Egyptian strategic partner, Si-Vision .

Synopsys is an American electronics design automation company that focuses on silicon design and verification, silicon intellectual property, and software security and quality. Si-Vision was founded in 2007 as one of the pioneers in the semiconductor industry in Egypt. Together, and in light of this MoU, Synopsys, and Si-Vision will be supported by ITIDA to add 500 engineering jobs over the next three years, adding to Egypt’s ER&D exports.

The signing ceremony was attended by H.E. Dr. Mostafa Madbouly, as well as MCIT Minister, H.E. Dr. Amr Talaat who said, “The MoU comes within the framework of the important role that ITIDA plays in building technological capabilities and supporting innovation by offering different models of collaboration, with a strong focus on the export sector.” 

Web Summit

An annual fixture on ITIDA’s calendar – and indeed the calendars of global tech giants, innovative entrepreneurs, and investors alike – was of course Web Summit 2023. Held in sunny Portugal, Egypt’s ICT, GBS, BPO, and startup industries took center stage at the unforgettable edition of the event. Not only did ITIDA represent Egypt with a country pavilion, designed as a one-stop-shop for business leaders to delve into the country’s endless opportunities, but we also took the chance to spotlight an excellent array of local startups and entrepreneurs on a global stage. Founders from an impressive 33 Egyptian startups had the ‘Startup Island’ buzzing, as they showcased their innovative companies and, by extension, the massive potential of young, Egyptian talents.

Egyptian Startup Sprints Wins Bronze in Africa’s Business Heroes Prize 

Fresh from his trip with us to Web Summit, Egyptian entrepreneur Ayman Bazaraa , CEO and Co-Founder of Sprints has taken home the bronze trophy in the annual Africa's Business Heroes competition. The Africa’s Business Heroes (ABH) Prize Competition is a philanthropic initiative sponsored by the Jack Ma Foundation and Alibaba Philanthropy. In its fifth year, this annual competition continues to spotlight the remarkable talents of African entrepreneurs dedicated to effecting positive change within their communities.

500 Global and ITIDA’s Scale-Up

November truly was a month where startups made their mark on a global scale. At Giza’s impressive Creativa Hub, ITIDA’s partnership with 500 Global  saw tech leaders connect with budding entrepreneurs while celebrating the first batch of graduates from the intensive Scale Up program, designed to nurture startups and take them to the next level. Global 500 COO and Managing Partner Courtney Powell reiterated the endless opportunities Egypt’s most innovative minds continue to put forward saying that “500 Global has been excited about Egypt since we made our first investment in 2013. The opportunities that Egyptian startups have to scale and accelerate over the next few years are quite substantial. We’re excited that ITIDA has been able to bring 500 Global to Egypt and have a program like this that we’re going to see the effects of for years to come.”

Between inspiring expert panels and scintillating startup showcase, Dr. Hossam Osman , advisor to the Minister of ICT and ITIDA’s Vice President said “The Ministry of ICT has a strategy to enhance the startup ecosystem in Egypt. To do so, we’re focusing on four dimensions: an enabling environment, access to finance, access to talents, and access to the market. What we’re doing with 500 Global works to enhance the capability of startups.”

The event was also an opportunity for a new batch of startups to sign up for their next round, as well as experience what Creativa Hubs have to offer.

Egyptians Dominate Forbes Middle East 30 Under 30 

Continuing a month filled with praise for Egypt’s innovative talents, Forbes Middle East’s 30 Under 30 list for 2023 was released with outstanding representation from Egypt. In fact, in the Science and Technology category, Egyptians made up a whopping 30% of the honorees. Here at ITIDA, we pride ourselves on fostering and upskilling talents and watching them flourish. One such example is the brilliant Hadeer Shalaby who started her journey in the tech space in TIEC’s Start IT program and has since launched the e-commerce platform Freezania, which landed her a spot on this year’s coveted list. Likewise, we’ve been lucky to witness the journeys of Aly Mohamed , founder of micro-mobility startup Seavo , and Alaa Afifi , founder of Bekia inc , who have joined us at past editions of Web Summit and have also been honored this year by Forbes.

The Global Startup Ecosystem Report: Climatech Edition

As COP28 gets underway in the UAE, following a successful COP27 in Egypt in 2022, Startup Genome has released its latest report, focusing on climate and sustainability entrepreneurship and funding. When ranking MENA ecosystems, Cairo came in third for Climatech and fourth for the Blue Economy - a testament to the lasting impact COP27 had on the local ecosystem, and the growing importance of sustainability across all sectors. Get your copy of the report here.