Egytrans, one Egypt’s leading transport and logistic company, has inked a deal with two partners to launch the country’s first and unique logistics incubation program in Egypt, Arab Finance reports.
The listed company has signed a deal with PMaestro, a company focus on innovation, and Cash Cows, company supporting startups in the Arab country.
To be built by Egytrans, the program, Arab Finance notes citing an email by the logistics company, is based on an open-innovation model and aims at redefining logistics as currently conceived, working hand in hand with startups that will generate innovative technological solutions for the logistics sector.
Startups according to the email get to improve their credibility and brand awareness as well as gain access to the program partners’ know-how. Egytrans, in turn, benefits from the opportunity to incorporate some solutions into its own operating model and potentially invest in the most promising startups graduated from the program.
Egytrans operates in water, air and land transportation industries and offers a range of services include Sea Freight, which comprises all types of cargo, including general, break bulk, containerized or Ro/Ro, as well as a chartering service for cargo vessels.
The company posted a 59% Year on Year decline in its profit in 2020 to reach EGP 13.06 million.
Egytrans launches Egypt’s first logistical incubation program
