Yacine El Mahdi Walid, the representative of the Prime Minister for the Knowledge Economy and Start-ups, announced new measures in Algiers on Saturday for the benefit of start-ups and incubators.
In a working speech on the second edition of the National Start-up Business Conference, Algeria Disrupt 2022, the delegation minister said that the country has adopted a new mechanism related to the underwriting of costs inherent in inventions and intellectual property patents. Shown. .. “This mechanism is part of the guidelines of President Abdel Majid Theboon of the Republic,” he added, according to the APS agency.
Mr. Walid also announced a new program for innovative project leaders to benefit from financial support and incubators throughout the country’s territory.
He also referred to the creation of a regional representative of the Algerian Fund (AFS) for start-ups and clarified that preparations are underway to launch a representative of this fund through the country’s Wilayah.
Mentioning the outlook for start-ups, he said, “We are encouraging foreign investment funds to come and invest in Algeria.” In addition to some participation in international events, the Memorandum of Understanding was signed to this effect, “he said.
Regarding strengthening the support system for start-ups, Mr. Walid announced the start of an acceleration program to support “Algeria venture” start-ups at the meeting, in addition to the creation of a regional delegation. Of the “Algeria Venture” accelerator.
To this end, it has been agreed to sign a framework agreement with the Ministry of Industry to create accelerators at a particular Wilayah level.
In this sense, this session will work with financial market authorities, regulators, insurance companies and banks to create a system for assessing and improving incubator performance in addition to launching the Financial Technology Institute. Will be done. The opening was chaired by the Prime Minister, Aïmene Benabderrahmane.
In addition to administrative procedures, the Minister also announced the launch of the MY STARTUP application, which allows direct contact with the ministry to raise concerns. Also, the opportunity to notify startup owners of all ministry proposals and offer them (fairs, funding, opportunities offered by large corporations).
The minister added that the startup environment is experiencing “unprecedented dynamics” across the country, and confirmed that the conference tends to answer important questions about the national economy.
Startup funding: 510 million DA mobilized so far
The Algerian Startup Fund has funded innovative project leaders totaling 510 million DA since its inception in early 2021. National Startup Conference.
According to APS, Hachani said the fund-funded innovative projects relate to 18 areas of activity, especially services, information and communications technology, health, transportation and tourism.
Located in 16 Wilayah countries, the fund is an investment capital company specializing in lending to start-ups and innovative projects. It is based on a financing mechanism based on equity investment in startup capital for a limited period of time, emphasizing to the same manager, the purpose of this institution is to develop an ecosystem and long-term registration of startups. I guarantee that it is. To help these companies export their products and services on a growth track.
The fund has a capital of 1.2 billion DA held by six banks (BADR, CNEP, BNA, BEA, BDL CPA).
In the same context, Nourredine Ouadah, head of the ministry’s startup and support structure department, which delegates to the prime minister in charge of the knowledge economy and startups, has a national committee responsible for awarding the “startup” label, Algerian companies 2021 Since the beginning of the year, we have received approximately 3,516 requests at the national level, 751 of which are labeled.
According to Ouaddah, the processing time for these requests averages 8.3 days per request, and the Commission is working to improve the file review process and extend the representativeness of its members to all ministries. I confirmed that it was there. An institution responsible for stakeholders and economic issues.
Innovative projects labeled are related to several areas of activity, most notably in the areas of services, e-commerce, health, logistics, transportation and distance learning.
Big cities such as Algiers, Oran and Constantine were also pointed out to be the areas with the most requests, according to the ministry’s head.
In this regard, Ouddah said his ministerial department intends to relocate domestically and southernly to raise awareness and disseminate the mechanisms introduced for start-up creators. Stated.
In addition, according to the speaker, there are plans to improve the conditions for obtaining a well-equipped “startup label” and reduce the required documents.
Algeria-Eco with APS
