TIEC Incubates 9 New Startups and Calls on Local ICT Entrepreneurs to Join Accelerator

17 July 2019

The Technology Innovation and Entrepreneurship Center (TIEC), affiliated to the Information Technology Industry Development Agency – ITIDA, announced the opening of round 16 of its Technology Entrepreneurship Accelerator (TEA).
The center is seeking local entrepreneurs who have an ICT-related/-enabled idea or prototype, e.g., websites, mobile apps, software programs, IoT projects, and want to get their startups off the ground. Registration is open from July 15 and must be submitted by 4th of August.
TEA is a startup accelerator program that supports early-stage, growth-driven companies through education, mentorship, and financing. The program is funded by the government and comes at no cost on the entrepreneurs entails 12 hands-on workshops and 6 mentoring sessions delivered within 12 weeks to help Egyptian entrepreneurs deliver an effective business plan, technology development milestones, and a good pitch to investors.
The program launches two rounds every year available in five governorates including Cairo TIEC (Smart Village), Alexandria (Arab Academy for Science & Technology), Mansoura (Mansoura University), Assiut (Assiut University), and Menia (Menia University) with plans in place to expand geographically across Egypt.
Applicants for TEA must be a team of entrepreneurs with one applicant at least has the Egyptian nationality, and a proven team’s competency in developing the technology they claim to use as a base for their startup.
In the same context, the center announced the 9 new startups that won the 23rd round of “Start IT” competition including SKN, Baghyra.com, Scienup, Aion Innovations, Kemitt, Hexel Labs, Djaty, Tawfiqia, and Orenda.
Start IT is a quarterly nationwide business plan competition, targeting entrepreneurs with ICT-related prototype and proof of concept, who work on turning their ideas into startups.
The winning startups will be offered a unique opportunity to have their ideas incubated at one of TIEC incubation centers for one year. The Incubation package that the center offers includes cash fund, in-kind services, such as consultancy services, software and hardware tools, and marketing support.
This is in addition to a working space with basic office furniture and Internet access, and access to technical, subject-matter advisory, business consulting and mentoring.
Egypt has earned an enviable position in the area of entrepreneurship and startups arena as the sector compares favorably to regional peers. The country is the fastest growing start-up ecosystem in the Middle East and North Africa while being the second largest funding recipient following the UAE.

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