Egypt’s tech ecosystem has been rapidly growing and has already made a name for itself in the global tech scene. With an increasing number of tech startups, multinational companies, and world-class talent, Egypt is becoming a hub for innovation, creativity, and entrepreneurship.
In recent years, Egypt's tech ecosystem has experienced tremendous growth. According to MAGNiTT, a startup data platform in the Middle East and North Africa (MENA) region, Egypt was the fastest-growing startup ecosystem in the region in 2019, with a 31% year-over-year increase in the number of startup deals. The country now hosts over 1,000 startups, and this number is expected to increase in the coming years.
One of the main reasons behind the success of Egypt's tech ecosystem is the availability of highly skilled and educated tech talent. The country has a large pool of talented engineers, developers, designers, and entrepreneurs who are passionate about technology and innovation. Egypt produces more than 500,000 graduates each year, with a significant portion of them coming from STEM-related fields.
Furthermore, the cost of labor in Egypt is relatively low compared to other countries, which makes it an attractive location for foreign tech companies looking to establish a presence in the region. This provides a great opportunity for companies to tap into Egypt’s talent pool while keeping costs down.
In addition, the Egyptian government has been actively promoting entrepreneurship and innovation by introducing new policies and initiatives to support the growth of the tech industry. One such initiative is the "Innovation, Entrepreneurship and Technology Transfer" program launched by the government, which aims to develop and commercialize innovative technologies, establish new startups, and create a supportive environment for entrepreneurship.
As a tech hub builder, Octopus can help foreign tech companies establish a presence in Egypt's thriving tech ecosystem. With our deep knowledge of the local market and our extensive network of talented tech professionals, we can help companies build and scale remote tech teams in Egypt. We provide a turnkey solution that includes talent sourcing, project management, local HR and admin, office and equipment, culture and engagement, and employer of record services.
In conclusion, Egypt’s tech ecosystem is a vibrant and attractive destination for foreign tech companies looking to establish a presence in the region. With its highly skilled talent pool, favorable cost of labor, and supportive government policies, the country is quickly becoming a hub for innovation and entrepreneurship. Octopus is here to help foreign tech companies tap into this dynamic market and take advantage of the vast opportunities it offers.
