Egyptian official reveals number of companies supported by 'Intaleq' incubators

CAIRO – 11 May 2023: President of the Academy of Scientific Research and Technology (ASRT) Mahmoud Sakr declared Thursday that 55 companies are supported by eight incubators within the National Technological Incubators Programme (Intaleq).

Sakr noted that "Intaleq" comprises 43 incubators, and that provide support to not just entrepreneurs but also to students whose graduation projects have potential.

Minister of Planning and Economic Development Hala al-Said stated in November that the FY2022/23 plan is intended to direct investments amounting to LE 67.1 billion for the communications and information technology sector, compared to LE 58.2 billion in the previous fiscal year, with an increase of 15%.

The percentage of sector investments in the total investments in the plan amounts to 5%. Further, the sector’s production is expected to increase by about 20% at current prices, and by 14.3% at constant prices. As for its contributions in the GDP, it is estimated to range between 2.9% and 3%.