Egypt and China signed a deal on Thursday to conduct cooperation on technology incubators, the Chinese embassy in Cairo said.
The deal was signed by Shanghai Institute of Microsystem and Information Technology (SIMIT) of the Chinese Academy of Sciences with Egypt’s Electronics Research Institute (ERI), the embassy said in a statement.
Under the deal, the Chinese science and technology innovation platform, InnoSpring incubator, will support the establishment of the technological innovation capacity of the Egyptian TARIEIC incubator through technology transfers.
“The two parties will jointly promote the transformation of research results into commercial product prototypes, enhancing mutual visits of personnel, and sharing incubator operation and management experience,” the embassy statement said.
The SIMIT and ERI will also cooperate on carrying out technological research and development, product marketing and patent commercialization to jointly support the technological innovation and development of small- and medium-sized enterprises.
The online signing ceremony was attended by Egyptian Higher Education Minister Khaled Abdel-Ghaffar, who said that electronics and information technology are Egypt’s fastest-growing fields, which have made outstanding contributions to Egypt’s economic growth.
The China-Egypt electronic technology innovation cooperation is expected to help Egypt implement the 2030 national technology innovation development strategy, the Egyptian minister added.