Egypt’s startup ecosystem is set to receive a significant boost through a new strategic collaboration between the Egyptian-Lebanese Businessmen Association (ELBA) and the Chamber of Information and Communications Technology (CIT). The partnership aims to foster innovation, support entrepreneurs, and accelerate the digital transformation of the country’s industrial sector.
The initiative was announced following an extensive meeting between ELBA’s Entrepreneurship and SME Committee, chaired by Eng. Fathallah Fawzy, and the CIT, led by Eng. Khaled Ibrahim.
A Protocol for Digital Transformation
Amr Fotouh, Chairman of the SME and Entrepreneurship Committee at ELBA, announced that the two parties have agreed to sign a formal protocol of cooperation. This agreement will establish a framework for a series of executive initiatives designed to advance digital transformation, bolster the local technology industry, and create tangible opportunities for startups.
Fotouh emphasized that the protocol reflects a practical approach to connecting the industrial sector with cutting-edge Egyptian IT solutions. The goal is to leverage local advancements in software, AI, and full automation to enhance the global competitiveness of Egyptian industries.
Bridging Industry and Technology
A key component of the partnership involves creating direct engagement points between the tech and industrial communities. Plans are underway to organize exhibitions within industrial cities, allowing factories and traditional companies to discover the advanced solutions offered by Egyptian technology firms.
The collaboration will also extend to joint participation in key industry events, including the “Digital Nation” conference, to promote a culture of digital adoption. Furthermore, the organizations will facilitate direct B2B matchmaking meetings between major corporations and emerging startups, aiming to spark direct investment and partnership opportunities.
Empowering Startups and SMEs
The alliance will provide a range of direct benefits to startups and SMEs. ELBA members will gain access to special discounts on software, IT services, and digital solutions provided by CIT member companies.
Moreover, the agreement grants ELBA members access to CIT’s extensive resources, including SME capacity-building programs and technology incubators for early-stage ventures. Startups will also be given opportunities to participate in specialized trade missions and competitions organized by the chamber, expanding their access to new markets and networks.
Eng. Khaled Ibrahim, Chairman of CIT, stated that his organization places great importance on entrepreneurship and startups. He noted that the cooperation with ELBA provides a vital platform to connect tech companies with the needs of the industrial sector, driving the adoption of smart solutions in factories and supporting entrepreneurs through training and market access initiatives.
About the Chamber of Information and Communications Technology (CIT)
The Chamber of Information and Communications Technology (CIT) is a non-profit organization operating under the Federation of Egyptian Industries (FEI). Its mission is to develop and promote the Egyptian ICT industry, enhance the capabilities of its member companies, and support the national agenda for digital transformation.
About the Egyptian-Lebanese Businessmen Association (ELBA)
The Egyptian-Lebanese Businessmen Association (ELBA) is a non-governmental organization established to enhance economic, trade, and investment cooperation between Egypt and Lebanon. It provides a platform for business leaders from both countries to network, collaborate, and explore joint venture opportunities across various sectors.
Source: Al Bawaba News
