One hundred companies will receive competency-building tools, such as export readiness assessment and business opportunity mapping, via the EU-funded Enabling Egyptian Exports through the Technology Transfer Driven Product Innovation (EEPI) project, Maha Saleh, executive director of the Engineering Export Council of Egypt (EEC), said.
She said that the project will also support 25 other companies in developing product concepts and commercializing plans for their new adapted products through business matchmaking with European partners. Saleh added that the EU has allocated a grant of €950,000 for this project that is implemented over a period of 18 months.
The EU-funded EEPI project will help Egyptian companies through their export journey to Europe by fostering their capacity to innovate in their products to meet European markets requirements.
Regarding the sectors that will be included in the program, Saleh said, “it is a market-driven approach. Therefore, we will focus on seizing the opportunities in the European market within the engineering industry. Other local sectors which have a competitive edge will be included, such as electricity, home appliances, feeder industries, metal forming, etc.”
Saleh elaborated that the EEPI project will contribute toward building the capacities of the companies to conduct product adaptation and innovation, as well as networking with European partners. Moreover, the program will provide an export manual to Europe for all Egyptian companies. A technology repository will be developed to include all technology scouting that takes place outside or inside Egypt, she disclosed.
The EEC is leading the consortium of the program with another three partners, one Egyptian and two European.
Saleh noted, “we will be dealing with a lot of stakeholders that will complement the activities of the project as well as the Central Bank of Egypt initiative with the Nile University to support the companies in developing their pilot products.”
She concluded that vocational training is an essential pillar to enable companies to meet international standards and specifications, and companies need to be aware of the export opportunities if a training took place, especially onsite training.