FEDCOC supports innovation projects: Chief

CAIRO - 24 February 2018: Chairman of Federation of Egyptian Chambers of Commerce (FEDCOC) Ahmed el-Wakil said that 22 regional projects have been implemented in cooperation with the European Union (EU) and the Association of the Mediterranean Chambers of Commerce and Industry (ASCAME) with an 80-million-euro grant in the field of innovation.

Wakil made the remarks in a ceremony held to mark the inauguration of the Innovation GATE, an IT competition under the auspices of ministries of trade and industry, education and technical education, and higher education and scientific research.

He said that the FEDCOC participates in establishing industrial institutes affiliated to the government in order to secure coping with international technologies.

The private sector and the government cooperate to support innovation and inventors via businessmen who provide 80 percent of job opportunities, he added.

As many as 3,000 students from all over Egypt are vying in the Innovation GATE.