Date published: 21 June 2011
Information Technology Industry Development Agency (ITIDA) announced that it will begin to support companies in local exhibitions on an individual basis in what is known as “Single Intervention”.
Such support is provided in conformity with the scheme of encouraging companies to Participate in local exhibitions and conferences which contribute heavily in boosting the market and creating business opportunities for companies. Throughout the Single Intervention service, ITIDA provides financial support to
companies submitted to participate in local exhibitions that are aligned to each company’s products and services or provide a good chance to use such products and services in local market.
In this respect, ITIDA covers 85% of the total participation cost of each company including space reservation fees, booth Construction, and event registration fees. On the other hand, ITIDA specified maximum allowed participations per company to be 3 Single
Interventions per year. The benefited Companies receive this amount of subsidy in retrospect meaning that the companies shall provide logistic tools, register, while ITIDA subsequently will reimburse on the condition of providing the actual payment proofs.
The eligible company for “Single Interventions Service” should comply with a bunch of criteria as each company has to be an Egyptian-owned company with more than (50% Egyptian ownership or under control of Egyptian Board for public companies), headquartered in Egypt, at least 80% of company payroll is based in Egypt, and has at least 10 registered full time employees.
Eng. Yasser El Kadi, ITIDA's CEO, said that the decision to expand participation individually in local exhibitions is part of the recently–announced package of procedures offered by ITIDA to assist Egyptian ICT companies.
The most significant of those measures are an agreement with the Social Fund for Development (SFD) to provide loans to ICT companies with a total amount of 150 million EGP at 6% of interests, half of which will be paid by ITIDA. The procedures also encompass financing the promotional materials of ICT companies in accordance with ITIDA standards in cooperation with the companies, and supporting the participation of all Egyptian ICT companies at Cairo ICT 2011.
He pointed out that ITIDA decreased the internal processing cycle time of responding to companies’ application from 2 months to 2 weeks from the date of the submission.
Likewise, the agency specified at least 6 weeks notification period prior to the inauguration of the event during which companies shall submit the application and fill the data sheet which also gives them a proper time to efficiently plan and prepare for the exhibition.
In the same context, Mr. Wael Morgan, ITIDA’s Events Unit Manager, affirmed that 19 micro, small, and medium-sized companies; out of 41 companies supported by ITIDA in Cairo ICT 2011, reported that they expect to strike deals worth of million and half Egyptian Pounds within the next 6 months on account of participation in the exhibition.
Number of visitors they received during the exhibition amounted almost to 4200, participating companies added.
Date published: 21 June 2011