Value Proposition
It’s TIME to join the world’s leading companies in leveraging Egypt, the hub for IT/ITES and technology innovation, for expanding your business globally.
An Abundance of Talent at Competitive Cost
Egypt offers an abundance of talent ideally suited to IT and business process outsourcing. More than 35 universities and 100 institutes bring out 500,000 annual graduates, of which 220,000 are able to provide business process services and 50,000 enjoy the IT related skillset. The multilingual talent pool is cost-competitive serving over 20 languages across more than 100 countries. The government is leading several initiatives to up-scale the skills and keep up with dynamic labor market requirements through high-value training in diverse technology tracks. Egypt is one of the most competitive locations in the world. Direct annual operating cost per FTE for multilingual contact centers is 80% lower than British and French second tier cities, where costs have become further more attractive since the country unpegged the Egyptian Pound from the US Dollar.
Pivotal Location and Supportive Government
In late 2016, Egypt embarked on a structural economic reform program supported by the International Monetary Fund, IMF, to rejuvenate the country’s growth prospects, and unleash economy’s potential. The new investment law and free zones development guarantee paramount support and alluring incentives for investors. Moreover, the government offers investors extensive support and aftercare, including market intelligence, due diligence, training, talent development, telecommunication, set-up/expansion support, competitive office spaces and a dedicated account manager for each investor.
Egypt, enjoying a central geographic location as a transcontinental country, is connected to many parts of the world through daily direct flights and have time zone similar to Central Europe, where local providers applying follow-the-sun (FTS) workflow to fulfill business continuity. Egypt has an internet backbone which connects over 60 countries via 18 routes of up to 60 Tbps cables capacity and infrastructure is being scaled up especially with the recent introduction of 4G technology.
The Egyptian government has embarked on flagship projects for boosting the ICT industry. The national initiative for spreading science and technology launched to create a collaborative environment for business, academia, and entrepreneurs through a cluster of tech parks developed by SiliconWaha under the name “WE Parks” across tier-2cities. The Next Technology Leaders (NTL) grants high-level certified training courses offered by top universities and industry leaders through online platforms. NTL grants target 16,000 university students/fresh grads and cover high-value tracks, such as machine learning, Data Science, Cyber Security. “Egypt Makes Electronics” is an initiative to position Egypt as the regional and global hub for electronics design and manufacturing through a number of programs and incentives.
Inspiring Innovation and Developed Industry | Time for Innovation
With an export volume of USD 1.87 billion and over 90,000 offshoring jobs, the ICT sector contribution to the GDP is 3.2%. Egypt has a well-developed ICT market, with a shift in its services portfolio as providers move from multilingual contact center services to high-value niche services, such as product development and R&D.
The IT innovation arena in Egypt is flourishing, with several success stories of small businesses securing millions of dollars of investments from Europe, the US, and the Middle East and successfully offshoring IT services to EMEA. The Innovation Clusters (iCi) is an initiative, based on a PPP model, was launched to create an enabling ecosystem for tech innovators within tech parks in tier-2 cities.
Since its establishment in 2010, the Technology Innovation and Entrepreneurship Center (TIEC) has been acting as a catalyst to drive innovation and entrepreneurship in the local ICT industry for enabling Egypt to become the leading regional hub for ICT-based innovation and entrepreneurship.
TIEC works with leading VCs, incubation hubs, global technology players and international industry to strategize, facilitate, and promote innovation, entrepreneurship and create intellectual property in ICT and its applications. To date, TIEC has trained more than 8000 youths, incubated more than 100 small businesses and startups, accelerated the business of over 300 companies and organized 15 competitions and hackathons.
