Tech Invest New Reality: Five Egyptian Startups Win the Road To CES Competition

BioBusiness, Ordera, Wire Microsystems, Elphas store, and Pulse are the five winning startups in Road to CES Competition, the winners have been chosen from 50 local companies that applied for the competition. The competition took place during Tech Invest "New Reality" last week. Startups received awards that range from 15,000 to 90,000.

“The awards aren’t of a high financial value but they show that the startups have a chance to progress and receive more investment and support,” said Mohamed Azzam, the CEO of the General Division of Digital Economy and Technology.

Khalil Hassan Khalil, chairman of the General Division of Digital Economy and Technology, announced launching the initiative one thousand new companies, to find one thousand companies to include them in the new digital plan and Egypt’s 2030 strategic plan. The initiative comes in partnership with the Information Technology Industry Development Agency [ITIDA], Silicon Waha, technological villages, and TIEC.

“Digital transformation”, “the future of digital payments”, “Egyptian trade development system” among other sessions were held at the conference. Yasser El Kady, minister of communications and technology information said during his speech, “the communications and ICT sector had the fastest growth rate among other sectors over the past fiscal year with a percentage of 12.5%.”

“Digital transformation in Egypt isn’t a luxury and if we don’t speed with initiatives and programs of digital transformation to start a new cycle of growth for the economy and society, we will be far behind of what’s happening in the world around us...the government, business organizations and the private sector are partners with the government,”  Azzam said during the recommendations at the end of the day.