Information Technology Industry Development Agency (ITIDA) announced that it will support business trips for Small and Medium Enterprises (SMEs) in ICT sector as well as encouraging companies to participate in international forums visits, seminars and specialized exhibitions. The decision will be effective starting from 11th of August 2011.
Throughout the "Business Trip" service, ITIDA provides financial support to companies participating in trade meetings abroad.
In addition, ITIDA also supports companies submitted to participate in exhibitions, conferences and specialized seminars to work on establishing new business relationships, promoting a strong presence of Egyptian companies in international markets.
In this regard, ITIDA covers 85% of the total participation cost of each company with the maximum of 12 thousand Egyptian pounds (L.E. 12,000) including; accommodation costs for a maximum of 2 days, cost of flight and event registration fees for one representative of each company.
The companies receive this amount of subsidy in retrospect meaning that the companies shall provide logistic tools and conference or seminar registration. While, ITIDA, subsequently, will reimburse on the condition of providing the actual payment proofs.
ITIDA announced that the eligible company for single intervention services should comply with a certain criteria such as; each company has to be an Egyptian-owned company with more than 50%, it is headquartered in Egypt and at least 80% of company payroll is based in Egypt, and has at least 10 full time employees.
ITIDA specified maximum allowed participation per company to be two times only per year.
Mr. Yasser El Kadi, ITIDA’s CEO, pointed out that the decision to support companies participation in business trips matches ITIDA’s efforts is to help Egyptian companies especially SMEs in building new business relationships through meetings, conferences and various forums which will focus on identifying industry development and meeting new customer perspectives. And, certainly this will help Egyptian ICT companies to attend international forums.
ITIDA has announced, last month, the importance of expanding the individual participation in local exhibitions as it is part of the recently announced packages of procedures offered by ITIDA to encourage companies to participate in exhibitions and local conferences which will contribute significantly in market revitalization and create employment opportunities.
The most significant of those measures is an agreement with the Social Fund for Development (SFD) to provide loans to ICT companies. These procedures, also, encompass financing the promotional material of ICT companies and supporting the participation of all Egyptian ICT companies at Cairo ICT 2011.
