The Information Technology Industry Development Agency (ITIDA) has re-launched an EGP 40m “Export-IT” programme to promote exports in the information and communication technology (ICT) sector in 2016.
Chargé D’affaires of the Executive Director of ITIDA Hossam Othman said the agency will receive applications from Egyptian companies that wish to benefit from the programme until 21 January.
Othman said they can receive between 10% and 20% of the value of their exports in financial aid to promote the idea of supporting the exportation of Egyptian IT products.
According to Othman, priority will be given to micro companies that are comprised of one to nine employees with annual revenues of less than EGP 1m. Such companies will receive aid at up to 20% of the export value.
As for small companies that consist of 10-49 employees and have annual revenues ranging from EGP 1m to EGP 10m, they will receive 15% of their export value in aid.
Companies with 50-249 employees and annual revenues between EGP 10m and EGP 80m will receive 12% of their export value in aid. Large companies of more than 250 employees and with annual revenues of more than EGP 80m will receive 10% of their export value in aid.
ITIDA has determined certain conditions for the eligible companies; they must be headquartered in Egypt with 50% of shares owned by Egyptians. Companies must furthermore submit financial reports, tax reports, and commercial records.
Among the IT services that receive financial support are programme development, ICT services, electronic manufacturing, application development, IT-enabled services, and embedded software.
The IT export support programme was initially launched in 2010 and provided aid to 121 companies in Egypt with EGP 150m.