The Technology Innovation and Entrepreneurship Center (TIEC) affiliated to the Information Technology Industry Development Agency (ITIDA), launches a new program to support startups, micro, small and medium- sized enterprises (SMEs) in electronics industry.

Companies registered on ITIDA database of e-design can benefit from the program by accessing automated tools in designing and producing printed circuit board (PCBs) and integrated circuits (ICs).

ITIDA Vice Chairman Hossam Osman who also works as TIEC Chairman and chairs the coordination and follow-up committee of the electronics industry strategy, has ascertained that the new program targeting the development of the electronics industry, comes in line with the State’s current strategic goals, view its major positive socio-economic impact worldwide.

Egypt has many competitive advantages such as successful design companies and distinguished calibers, he has said.

The program lasts for three years where a specialized committee works on evaluating and identifying the winners who will benefit from the program services.

ITIDA and the benefiting company, thanks to EDAS program, afford together the cost of the used tools for the e-design. The maximum amount of subsidy that ITIDA offers, depends on the categorization of the company whether a startup, micro, small or medium sized company.

A startup receives a maximum of 375 thousands EGP with 95% participation of TIEC. A micro company receives one million EGP with 80% TIEC participation, while the small company receives 2 million EGP with a participation percentage reaching 65%. Finally medium companies receive 3 million EGP maximum with a participation reaching 50%.

TIEC was established in 2010 to encourage ICT innovation and entrepreneurship in Egypt. The center works on promoting Egypt as a global competitor in high value- added inventions. The center is the first of its kind in Egypt, second in Africa, fourth in the Middle East and North Africa region and member of the European Business Network (EBN).