Egypt’s Information Technology Industry Development Agency (ITIDA), through its Technology Innovation and Entrepreneurship Center (TIEC), has welcomed the 47th cohort of its flagship Start IT incubation program. The event also marked the official launch of the new “Start IT Perks” platform and a significant increase in the financial support offered to incubated startups.
By the Numbers
- EGP 480,000: The new, increased value of the support package per startup (up from EGP 180,000).
- $10,000: The new value of Amazon Web Services (AWS) credits offered to each startup.
- 8: Startups in the new 47th cohort.
- 47th: The edition of the long-running Start IT program.
Launch of the ‘Start IT Perks’ Platform
A key announcement was the launch of the “Start IT Perks” platform, a new initiative that provides incubated startups with access to a range of supported perks and discounts on advanced digital tools and applications from TIEC’s partners. This is designed to help startups reduce their operational costs and accelerate their growth by providing access to professional services at a subsidized rate.
Meet the New Cohort of Innovators
The 47th cycle welcomes eight new technology startups with innovative solutions targeting diverse sectors:
- Cluster: A platform to improve supply chain efficiency in the pharmaceutical sector.
- Mystery Bag: A digital model to reduce food waste and unsold inventory.
- Converse2Note: Uses AI to convert medical consultations into documented reports.
- CoccaroHome: A platform connecting creative female artisans directly with consumers.
- Sportyano: An integrated digital system for discovering and developing sports talent.
- LRNOVA: Provides high-quality educational content using AI.
- TANKER: A digital system for monitoring and managing fuel consumption in transport trucks.
- eDariba: A specialized platform for digital tax compliance targeting SMEs and freelancers.
A Significantly Enhanced Support Package
In addition to the new perks platform, ITIDA has enhanced its support for the Start IT program. The total support value has been raised to EGP 480,000 per startup, and the AWS credits have been doubled to $10,000. The program has also added a new specialized component in Artificial Intelligence, which includes targeted training and expert consultation sessions.
About the Start IT Program
The Start IT program, launched in 2013 by ITIDA through TIEC, is one of Egypt’s most established incubation programs. It supports early-stage entrepreneurs with innovative ICT-based ideas or prototypes, providing a year-long, integrated incubation environment that includes financial support, training, workspaces, and mentorship.
Source: Masrawy
