Signing of a Memorandum of Understanding between the Academy of Scientific Research and Technology and the Arab Academy for Science, Technology, and Maritime Transport

On Sunday, Dr. Gina El Feky, Acting President of the Academy of Scientific Research and Technology, and Dr. Ismail Abdel Ghaffar Farag, President of the Arab Academy for Science, Technology and Maritime Transport, signed a memorandum of understanding to enhance cooperation in supporting entrepreneurs and technological projects. The signing ceremony took place at the Arab Academy’s headquarters in Heliopolis.

This cooperation aims to strengthen coordination between the two parties. Dr. Ismail Abdel Ghaffar Farag welcomed Dr. Gina El Feky, accompanied by Dr. Amr Farouk, Assistant President of the Academy for Technological Development, and Dr. Tamer Hammouda, Supervisor of the Innovation Development and Marketing Sector at the Academy, to discuss ways of cooperation between the Arab Academy and its various entities, such as the Arab Academy Company for Information and Communication Technology and the Entrepreneurship Center.

The memorandum included proposals for new initiatives and the continuation of some current initiatives, such as cooperation in graduation project programs, and specialized business incubators through the “Intilaaq” program of the Academy of Scientific Research. The agreement also includes establishing an entrepreneurship club affiliated with the Arab Academy and supporting the startup accelerator program at the Arab Academy’s Entrepreneurship Center through the “101 Business Accelerators” program funded by the Academy of Scientific Research and Technology.

In her speech, Dr. Gina El Feky explained that the Academy of Scientific Research works on finding innovative solutions to existing economic, social, and environmental challenges in various Egyptian governorates through its various programs, including the specialized technological incubators program (Intilaaq), the 101 Business Accelerators program, and the graduation project support programs “My Project, My Beginning”. These initiatives aim to support the development of innovative solutions to different challenges in the economic sectors targeted by Egypt’s Vision 2030, positively reflecting on comprehensive and sustainable economic development.

Dr. Ismail Abdel Ghaffar Farag, President of the Arab Academy, affirmed that the academy, with its various entities and branches, strives to support Arab and Egyptian youth by qualifying them to establish their own startups and providing growth and stability elements for these companies in the labor market. He also expressed his support for new initiatives in sustainable innovation fields, such as the green hydrogen sector, and cooperation in supporting the eighth and new session of the Cairo International Innovation Exhibition, organized by the Academy of Scientific Research and Technology, which is one of the most important exhibitions supporting innovation in Egypt and the Arab world.

Dr. Amr Farouk clarified that the national program for technological incubators “Intilaaq” has welcomed 6 new companies in the remote sensing and space sciences incubator. Helwan University has also seen the inclusion of 6 new companies in the “biocluster” biotechnology incubator, along with 5 new companies in the furniture incubator at the Faculty of Applied Arts. In Alexandria, 6 companies have joined the “pilot” incubator at Alexandria University, and 6 other companies have recently joined the “Nam’a” incubator at Matrouh University.

To achieve the program’s goals of spreading entrepreneurship thinking throughout Egypt, the academy announced the opening of applications to establish new technology incubators in all Egyptian governorates to reach entrepreneurs anywhere in the country. The academy has supported 43 incubators in different regions of Egypt, covering more than 24 diverse fields.

Dr. Tamer Hammouda added that the number of Innovation Support, Technology Transfer, and Marketing offices has reached 56 in governmental, private, and national universities, in addition to research centers. The number of entrepreneurship clubs has reached 50, aiming to create a generation capable of finding investment opportunities for themselves and others, along with promoting and spreading a culture of innovation among various segments of Egyptian society.

Read Also: Kafalah program that finances 3,000 establishments in Saudi Arabia