The Egyptian Cabinet information and decision support center (IDSC) unveiled that the value of the deep technology market is estimated to have about $3.8 billion between 2022 and 2023 which is equivalent to an annual growth rate of 21.8%
Deep technology, refers to those startups whose business model is based on high-tech innovation in engineering, or significant scientific advances.
The report added information on estimating the annual growth rate of deep technology in other sectors covering robotics and the application of deep technology in the areas of healthcare etc.
The IDSC said the number of start-ups working in the deep technology field went up to 31 new start-ups with nearly $32.5 million in the past nine months that ended in September 2021, including 10 start-ups in Egypt, the report added.