New Egyptian program transforms inventor patents into actual products
1 min
ASRT's P2 initiative aims to convert patented ideas into marketable products in Egypt.
P2 Initiative aligns with ASRT's 2022-2026 plan to boost domestic manufacturing.
The academy supports the production of locally-made electric cars and critical medical devices.
The Academy of Scientific Research and Technology (ASRT) has introduced the P2 Initiative, designed to assist inventors in converting their patented ideas into viable market products, thus enhancing the knowledge-based economy and elevating the 'Made in Egypt' label.
Through the P2 Initiative, inventors receive financial backing, tapping into the immense potential of underexploited patents registered in Egypt. These patents have significant potential for domestic and international markets, offering a chance to bring state-of-the-art technologies to Egyptian sectors.
In line with the ASRT's third strategic plan (2022-2026), the P2 Initiative is crucial in decreasing Egypt's dependence on imported goods and invigorating its local production. The initiative fosters a thriving entrepreneurial landscape in Egypt by motivating inventors to bring their concepts to life as products.
Historically, the academy has been instrumental in facilitating the production of local innovations like electric cars and essential medical equipment, including intensive care ventilators.
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