Export IT program grants LE 40.9M support to 100 ICT firms

CAIRO – 12 July 2017: One hundred Egyptian information and communication technology (ICT) companies were granted LE 40.9 million in export support, the Information Technology Industry Development Agency (ITIDA) announced Wednesday.

Around 80 percent of the support was granted to 93 small- and medium-sized enterprises (SMEs) as well as micro-entities, while large companies obtained 20 percent, ITIDA said in a statement during the closing of the seventh edition of the Egyptian exports support program “Export IT”, which kicked off in February.

It added that 13 new companies joined this year’s program for the first time.

The preliminary statistics for the program’s 2016 edition showed that Asia topped the destinations importing the products of Egyptian ICT firms, followed by the Americas, Europe and Africa.

ITIDA has called on Egyptian ICT companies that export services and products to apply to the program to benefit from the direct financial support, which amounts to up to 10-20 percent, based on the company’s size.

The program aims to include 1,000 beneficiaries in the near future, the statement added.

Since the program’s inception in 2010, more than 150 Egyptian companies received around LE 231 million in support, which is a motivation for the companies to increase their exports that currently amount to LE 5.6 billion, according to the program’s statistics.