Description

Incubator Program If you have a business plan and a prototype and are looking to participate in one of the technology business incubation centers affiliated with the Center for Technological Innovation and Entrepreneurship; Now, you can apply to participate in one of the incubators of the Center for Technological Innovation and Entrepreneurship at any time during the year. Every three months, submitted applications are evaluated and a call for new ideas is sent to the initially approved groups. Groups that pass the project presentation stage participate in the incubation program at one of the centers affiliated with the Center for Technological Innovation and Entrepreneurship.

The duration of the incubation period for the Center for Technological Innovation and Entrepreneurship is one year, and the technological incubator program consists of the following:

• Financial support amounting to 60 thousand, divided into three installments linked to achieving the agreed upon goals

• In-kind services worth up to 120 thousand Egyptian pounds in the form of consulting services, software, computer equipment, and marketing services.

• A workspace equipped with basic furniture and Internet connections.

• Basic software and computer hardware tools during the incubation period.​​

• Providing technical advisors and mentors.​

Application process

• Step 1: Fill out the form and upload the business plan

  If you do not have a business plan, you can use the following form to prepare a business plan. Business plan template

• Step 2: Personal interview

• Step 3: Presentation of the idea

Agenda for the next round

• November 4, 2023 Deadline for submitting applications and business plan

• November 15, 2023 Announcement of accepted applications and invitation to submit new ideas

• November 20 and 21, 2023 Interviewing those with accepted ideas and projects, Note: This excludes ideas and projects that have passed the Center’s Entrepreneurship Motivation Unit program, after taking the opinion of the Entrepreneurship Motivation Program team

• November 22, 2023 Announcement of the results of the personal interview and invitation to attend the final stage (presentation stage)

• November 29, 2023 Final submission of new ideas

• December 20, 2023 Announcing the winners

• January 1, 2024 ​The beginning of the incubation

Eligibility Criteria

For any contestant to be eligible to participate in the competition, the following set of criteria must be satisfied:

1. Idea Compliance – Applicants are only allowed to apply with Ideas related to Information and communications Technology (ICT). Entries with ideas outside the boundaries of ICT will be disqualified.

2. Teams or Startups – either teams with prototypes/ proof of concept or startups that have been in business in less than one year can apply.

3. Team Size – Only teams are eligible to apply. The team size is at least two members. In case of you have a legally registered startup, It should be legally registered as limited liability company or joint stock company. 

4. Dedication – Applicants who reach the pitching stage must testify that they will dedicate their full time/efforts to lead their projects when incubated and that there are no legal or social or vocational constraints that would forbid them from doing so. 

5.  Age – Applicants of any age above 18 year may be eligible to apply. 

6.  Location – Applicants who are residents of Egypt including all provisional areas are eligible to participate given their acceptance to the criterion about dedication.

Acceptance criteria

The Technology Innovation and Entrepreneurship Center business incubator aims to support creative entrepreneurs to form their companies and work on their success by providing a package of incubation services. Advanced projects are evaluated based on the following criteria:

• Creativity: The project must be innovative and provide solutions to any market or industry challenges

• Applicability of the project: The project must be supported by a practical/experimental model (any projects submitted without a prototype are excluded)

• Serious entrepreneurial management: The project must be established, clarified , and sponsored by young entrepreneurs or those with practical talents. University students are not eligible to apply for incubation, as it requires full-time work to make the project a success. In the case of recent university graduates applying, they must have a university degree and the necessary qualifications to implement the project. There is also no objection to accepting a work team with only one founder if there is a team to work with, with the need to allocate full time and effort to work on the success of the project.

• A solution to an actual problem: The project must provide a smarter, cheaper, advanced, or better solution than existing solutions to any actual problem in the market or a solution to a future problem or need.

• Using information technology as a basic product or as an enabling tool to provide a service: The project must rely on creating and developing technical products or providing services in any field by developing an enabling tool using information technology such as mobile applications, web applications, platforms and programs.

• Economically feasible: The project must provide a product or service with economic continuity and the ability to attract investments

• Ability to grow: The project must have the potential to grow among important market sectors and within multiple sectors and classes.

• Current project status: Teams backed by prototypes or startups can apply for incubation

• Full-time: The project/company that wishes to be incubated may not be incubated in another incubator or business accelerator at the same time as being incubated in the Center for Technological Innovation and Entrepreneurship.

Reapplying for Start IT program:

Projects/Startups that did not pass the pitching phase can reapply only one more time but after two rounds from their first pitch, and with the condition that they should have worked on the judges ‘comments that caused their rejection and validated their product/ solution.

Evaluation Criteria

• The extent of the distinctiveness of the proposed service or product and the motivation for putting it on the market

• Provides clear target markets with high growth potential

• Clear analysis of competitors

• Competitive advantage of the service or product

• Skills and experience of the management team

• The progress of the prototype

• The submitted business plan must contain the following:

  - A clear understanding of the problem, market gap, market need and/or opportunity

  - A complete explanation of the product or service, its characteristics, and the techniques and technology used

  - Develop the prototype now and attach all the necessary pictures and links for clarification

  - A complete explanation of the size of the main target market and the adjacent market - Competitors and competitive advantage

  - The skills, experience and qualifications of the work team

  - Business model and sources of income

  - Plan to launch the project in the market, acquire target markets, marketing and sales strategies and channels - Financial forecasts and financial planning

  Commercial and technical interim points in detail for at least one year

Find application for here