The mission, which Egypt pursues, is focused on the creation of more than 52 thousand direct and indirect jobs over the course of 10 years, and also on the support of 200 startups in the field of technology transfer through the launch of an ambitious project for the stimulation of technological innovations and entrepreneurship.
As part of the "Nile Valley of Innovations" project, which was announced by the Nile University, it is planned to carry out a revolution in the Egyptian economy. The university stated that it is an ideal research institution for the creation of the first in the world full-fledged technological valley in Egypt, where the Nile Valley of Innovations will be established through a partnership between the public and private sectors, and will be financed by initial capital, the creation of a charitable fund and strategic partnerships with global technological leaders.
According to the university's statement, the plan of the Nile Valley of Innovations is developed with ambitious goals, including the accelerated creation of 400 startups in the field of technology and an investment of 1.2 billion dollars to VVP by the tenth year of the project. The goal of the Nile Valley of Innovations consists of creating an integrated innovation ecosystem, uniting all components, such as universities, research and development centers, technological marketing subsidiaries, incubators, and innovation accelerators, alongside companies in the field of technology transfer.
The president of the university, Wael Akel, emphasized in the statement for the German news agency DPA that “this project arises in conditions of extreme necessity to increase the technological added value in Egyptian products, since the current situation witnesses a predominance of medium and low technologies, with practically complete absence of high technologies.” He added: “The launch of the Nile Valley of Innovations presents a bold step towards achieving sustainable economic development in Egypt through the combination of scientific research, technological innovations, and entrepreneurship, which will enable Egypt to become a regional center for technology and innovations.”
