Egyptian artificial intelligence firm FORAS AI has signed a strategic partnership with Sweden’s Söderhub to establish the Middle East’s first AI Park. The Memorandum of Understanding (MoU) was signed during the Techne Alexandria 2025 Summit, one of the region’s top events for innovation and entrepreneurship. The ceremony was attended by H.E. the Ambassador of Sweden to Egypt, symbolizing both nations’ commitment to technological cooperation.
Building a Regional AI Hub
The AI Park, set to launch between 2026 and 2027, will serve as a regional center for AI-driven research, smart application development, and entrepreneurship. It aims to connect startups, universities, and investors to foster innovation and accelerate the integration of AI technologies across industries. The initiative marks a major milestone in Egypt’s digital transformation strategy and Sweden’s mission to extend its innovation expertise globally.
A Bridge Between Egypt and Sweden
Mohamed Aboulnaga (Nagaty), Founder and CEO of FORAS AI, emphasized that the partnership represents a new era of technological exchange between the two countries. He described the AI Park as a “transformative platform” that combines Sweden’s deep expertise in innovation with Egypt’s growing ambition to build a sustainable digital economy. Aboulnaga added that the collaboration will help create an advanced ecosystem linking research, business, and entrepreneurship in one integrated framework.
Advancing AI for Societal Impact
According to Aboulnaga, FORAS AI plans to attract top regional and global talent to the AI Park, establishing a research and application environment where ideas can be rapidly tested and scaled. The project will focus on key sectors such as education, healthcare, manufacturing, and financial services, where AI can drive measurable societal and economic value. He explained that the park will combine smart infrastructure, startup incubators, and specialized training centers to nurture the next generation of innovators.
Long-Term Vision for Collaboration
Aboulnaga stated that the agreement goes beyond a short-term project, positioning the initiative as a long-term partnership to build a truly digital Middle East. “We are not just signing an MoU, we are laying the foundation for a technological bridge that will shape the region’s digital future,” he said. He underscored that the AI Park will stand as a model for cross-border cooperation, uniting expertise from the Nordics with local aspirations for AI adoption and localization.
Sweden’s Commitment to Innovation in the Middle East
The Swedish Ambassador to Egypt praised the partnership, describing it as a “model of synergy between Swedish innovation and Egyptian ambition.” He reaffirmed Sweden’s support for technological collaboration with Egypt, particularly in smart technologies, green innovation, and digital transformation. The Ambassador noted that the AI Park would provide a practical framework for joint research and knowledge transfer between Nordic and Middle Eastern institutions.
Connecting Nordic Innovation with Emerging Markets
Magdy Shehata, Founder and CEO of Söderhub, expressed his enthusiasm for the partnership, calling it a natural extension of the company’s mission to link Nordic innovation ecosystems with emerging markets. He said that Söderhub has long worked to bridge Swedish startups and research centers with growth opportunities across the Middle East and North Africa. Through this collaboration, he added, both sides will create a dynamic space for startups, academics, and investors to co-develop AI solutions that advance social and economic progress.
The AI Park project underscores a shared vision between Egypt and Sweden for building a sustainable, inclusive, and innovation-driven future. By integrating research, entrepreneurship, and investment under one platform, the initiative seeks to empower the next generation of AI pioneers in the region. As preparations begin, both FORAS AI and Söderhub are setting the stage for a new chapter in Middle Eastern technology leadership—anchored in collaboration, sustainability, and shared growth.