(MENAFN- Daily News Egypt) The Information Technology Industry Development Agency (ITIDA) launched a commercial trips programme, which is a special funding programme with the aim of promoting Egyptian companies' exports and increasing their presence in foreign markets.
The programme allows Egyptian companies to participate in international events and foreign exhibitions individually as an exhibitor, a visitor in the event, or a speaker at a seminar.
The benefits of the programme includes opening new businesses and markets for Egyptian companies, which subsequently contributes to increase exports of the local ICT sector, enabling Egyptian companies access global markets resulting in a development in the Egyptian product; helping companies expand and search for new business opportunities; and increasing employment opportunities within these companies as a natural result of the increase in commercial transactions with foreign companies.
All Egyptian ICT companies registered in ITIDA's database and their specialty should be consistent with the nature of the suggested commercial trip.
Interested companies should fill in the commercial trips form three weeks before the date of the trip. Following this, ITIDA will review requests and reply within two working weeks. In case of approval, the company will be asked to sign a biennial contract to participate in the programme. Participation approval will be according to the terms and conditions mentioned in the contract.
The selection criteria relies on the applicant company's completion of the registration at ITIDA's database, in addition to the company's specialty consistency with the nature of the suggested commercial trip and the date of establishment of the company, which should exceed two years from the date of the submitting the request.
Funding items include the cost of participation in international exhibitions: exhibition space booking, building pavilions and other requirements of the pavilion, as well as accommodation expenses of an individual (two person for micro, small, and medium enterprises) from the participating company during a commercial trip for a maximum of five nights ($150 per night), accommodation can be booked directly with hotels. The funding also covers airline ticket expenses of an individual (two person for Micro, Small and Mid Enterprises) from the participating company during a commercial trip. The maximum amount to be reimbursed per person according to the below schedule.
Flight ticket must be booked through EgyptAir offices only and no bookings should be made directly with tourism companies or travel agents. Moreover, only economy class tickets are allowed and bookings on business class are not accepted. ITIDA's programme also covers registration fees, event or exhibition entry fees, and the participation cost of bilateral business meetings.
The company will be able to participate in the commercial trips programme by participating in a number of 10 commercial trips during the period of the programme, which is two years and which does not exceed five commercial trips per year.
Each company is funded a maximum of EGP 50,000 per trip, while EGP 200,000 is the maximum fund for all commercial trips (10 trips) during the contract period while considering a cap of EGP 100,000 annually.
For micro, small, and medium enterprises, ITIDA will subsidise 70% of the total cost of the commercial trip. And for large companies, ITIDA will subsidise 60% of the total cost of the trip.
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