The headquarters of the Academy of Scientific Research and Technology (ASRT). Photo courtesy of ASRT Facebook page
President of the ASRT Mahmoud Sakr urged inventors to sign up for the initiative starting today -- 19 September -- through the academy's website, without disclosing the registration deadline.
The P2 Initiative will support the knowledge economy, introduce new technologies to Egyptian industry, and contribute to the creation of innovative, highly competitive "Made in Egypt" products, according to today's launch statement.
If chosen, Egyptian-owned and patented inventions will receive financial support.
According to Sakr, the initiative will make use of a range of underutilized Egyptian-registered patents, many of which have promising applications for local and global markets.
The P2 Initiative is part of the ASRT's third executive plan (2022-2026), which aims to reduce Egyptian imports and boost domestic manufacturing.
The academy has recently supported the commercial manufacture of a locally-made electric car, and medical devices for intensive care rooms such as ventilators, Sakr said.
He further added that the ASRT is working with the Ministry of Agriculture to develop plastic grain silos, hybrid rice strains and other technologies to boost agricultural productivity.
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