Egypt launches new tech incubator for emerging projects

Upon the cooperation agreement, emerging projects and businesses in the logistics and supply chain fields will be supported

  
Image used for illustrative purpose. Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019.

Image used for illustrative purpose. Container trucks stand in line on the road due to bad weather in the Mediterranean city of Alexandria, March 30, 2019.

REUTERS/Amr Abdallah Dalsh

Egypt - The Academy of Scientific Research and Technology (ASRT) signed a cooperation protocol with the Arab Academy for Science, Technology, and Maritime Transport to launch a technology incubator for the logistics sector, Ahram Gate reported.

Upon the cooperation agreement, emerging projects and businesses in the logistics and supply chain fields will be supported.

ASRT will provide, through Intilac incubator, financing assistance that can reach EGP 200,000 for each project.

Egypt’s planning minister Hala el Said stated last month that the country plans to raise the number of technology incubators to 13.

Earlier in June, the first artificial intelligence incubator in Egypt started to receive applications.

The scientific research academy announced earlier about establishing new incubators under Intilac program.

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