ITIDA CEO Amr Mahfouz and Plug and Play CEO and Founder Saeed Amidi signed the agreement. The agreement aspires to attract $20 million-worth investments in the beneficiary technology startups while creating 500 job opportunities. The project is also part of MCIT strategy to establish digital Innovation Hubs across Egypt to promote technology innovation and entrepreneurship. Based in Silicon Valley, California, US, Plug and Play is one of the world's most prominent investors in early-stage startups; it has invested in almost 1,000 startups. Plug and Play adopts a unique business model that involves fostering and boosting innovation through establishing sustainable partnerships between big businesses and startups.
