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The Industrial Innovation Award | Ebtaker

will give recognition to outstanding innovations developed and implemented by Egyptian companies from all industrial sectors. The award seeks to acknowledge innovative companies and their efforts in order to create awareness for innovation and motivate companies to innovate.

The Industrial Innovation award is implemented by the Ministry of Trade and Industry as a measure of its Industrial Innovation Strategy in efforts to stimulate innovation within the Egyptian Industry. The Award is supported by The Egyptian-German Promotion of Small and Medium Enterprises (PSME) project.

The Industrial Innovation Strategy (IIS)

The government of Egypt has committed itself in the Sustainable Development Strategy Egypt Vision 2030 to create an innovative and knowledge-based society, which is needed to support its growth and secure human welfare. The MTI Strategy 2020 underlines the need to promote an innovation culture, incentivize market-oriented research and development, build strong links between academia and industry as well as between companies (e.g. in clusters), foster innovative capacities in industries (especially in SME) and enable companies to bring innovations to the market.

The Industrial Innovation Strategy (IIS) sets out a clear pathway towards these objectives. It takes into account that academia can no longer be considered as the main source of innovation. Partnerships between industry and academia, between companies along and across value chains, entrepreneurs from Egypt and abroad are shaping innovation nowadays. Technology will gradually move from being a driver of innovation to being an enabler.  Industry - especially small and medium sized enterprises - as well as public and private support structures need to be prepared to respond to these changes.

The framework therefore focuses on the following four stages of the innovation chain which are needed to turn ideas and knowledge eventually into commercial value for a company, which will generate social and economic benefits.

 

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The Promotion of Small and Medium Enterprises (PSME) Project

The Egyptian-German Promotion of Small and Medium Enterprises (PSME) is a bilateral technical cooperation programme under the guidance of the Egyptian Ministry for Trade and Industry (MTI) with Technical Assistance provided by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ).

To find out more about the Promotion of Small and Medium Enterprises (PSME) Project and its activities, please visit psmeegypt.org

 

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