ITIDA, which is the executive IT arm of the ministry of ICT in Egypt is funding the local startups’ participation to attract big global companies and investments as part of the agency’s mandate to help these companies enter the global market to scale up their operations.
With a focus on disruptive and emerging technologies like artificial intelligence (AI), augmented reality (AR), Smart Cities, and IoT, eight startup companies are participation to gain spotlight during the show to help accelerate their growth and innovation.
Participating tech companies include RafiQ, a virtual assistant that can understand Arabic voice commands in user’s local dialect with localized experience; Mintrics, which presents advanced Facebook video analytics tool using AI technology to measure the performance of content and benchmark against competitors; Furnwish, a tech company creating tools and creative solutions for the Furniture industry using augmented reality and artificial intelligence; Sigma-Fit, Fulltact, Pass Inc., XIOT, and Hitchhiker.
According to a recent study, the Egyptian startups top all peers in Africa as they have dominated the disclosed VC deals directed to early-stage companies in 2019. In addition, Egypt recently surpassed the UAE by number of VC deals in startups in the MENA region, accounting for 27 percent of all deals in the last quarter of 2019.
CES is a global consumer technologies exhibition. The show attracts the world’s business leaders, pioneering thinkers, and more than 170,000 attendees from 160 countries, in a forum where the industry’s most relevant issues are addressed.