The Academy of Scientific Research and Technology in Egypt announced the opening of applications for the second round of the Remote Sensing and Space Science Business Incubator (RSS) in partnership with the National Authority for Remote Sensing and Space Sciences. The Academy of Scientific Research and Technology’s National program (Intelak) will fund the incubation. The program aims to encourage and develop promising technological ideas and innovative young academics in remote sensing and space science into business.
According to the press release published on the Followict platform, Intelak program, which was named one of the State Information Service’s major national projects in 2018, aims to explore new ideas and embrace their owners, including entrepreneurs and final-year students at Egyptian universities, by providing an appropriate and supportive environment financially, technically, and logistically for distinguished ideas to reach the nucleus of emerging technology companies that create competitive products within the knowledge economy.
The operators of the incubation program explained that the distribution of incubators throughout Egyptian governorates was considered to serve the most significant number of beneficiaries, noting that the number of startups incubated in the incubators affiliated with the Academy reached 182 startups, from which 151 companies have already graduated. In contrast, incubators provided more than 954 job opportunities for young people, and the total funding for incubators reached EGP 120M.
According to the organisers, the incubator aims to support innovative ideas and startups in the fields of remote sensing and space science, as well as to provide the necessary technical, financial, and administrative support to localise technology to create a new Egyptian industry and that the application of remote sensing technology is critical in most national projects to effectively contribute to achieving sustainable development goals, developing scientific research and supporting Egypt’s Vision 2030.
The incubation program’s organisers stated that the incubated ideas would receive funding support of up to EGP 200K per startup, through an intensive program ranging from 6 months to a year, in addition to technical and logistical support with the presence of consultants specialised in the field of incubator work, to encourage the development of these companies and activate their activities in the Egyptian market.
It is worth noting that the incubation program’s first edition included 5 startups and that the incubator offers a distinguished program that aims to qualify and graduate more than 15 startups in the fields of remote sensing applications and space sciences to the Egyptian market, where the incubator launches an annual incubation program.
The second session of the incubator includes a variety of applications for remote sensing technology and space science, which encourages young entrepreneurs to implement their ideas, work to provide job opportunities, contribute to reducing and combating unemployment, and contribute to meeting the needs of the local and regional market, and owners of creative ideas can learn about the conditions and criteria for applying to join the incubation program and the possibility of registering in it through the following link.
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