The Information Technology Industry Development Agency (ITIDA) signed an agreement with Valeo Egypt worth EGP 21m to be implemented over the coming three years, in order to foster innovation and research in digitisation and artificial intelligence (AI).
The agreement was signed by Maha Rashad, the acting CEO of ITIDA, and Wael Abouelmaaty, Valeo Egypt’s general manager. “We are thrilled to establish this new long-term partnership to promote research activities in the fields of AI and electrification, which strengthens Egypt’s positioning as a hub for disruptive technologies and high-end engineering services,” Rashad said.
The agreement includes a long-term partnership between Valeo and ITIDA with a contribution of EGP 6m, aiming to offer world-class training opportunities on the latest ICT technologies in the automotive field, in addition to offering EGP 15m to the development of research activities, the advancement of prototypes, as well as patents and research papers production.
Valeo also will utilise its state-of-the-art Car Lab research centre facility, its software and hardware tools, as well as its local and international expertise in order to produce system prototypes, publish research papers, and register patents in the Egyptian patent office on an annual basis.
“We are pleased to continue the fruitful collaboration with the ministry of communications and information technology and ITIDA in the fields of advanced training and research. We believe that such a promising project will surely enhance the progression of significant technologies – such as AI and digitisation in Egypt,” Abouelmaaty stated.