The state has decided to mobilize this financial windfall to boost the technological arena. A plan that provides aid to the various project leaders.
From the outset, 411 million dollars is the equivalent of 58 billion dinars at the heart of the current program. It is this amount that the Algerian Startup Fund plans to disburse.
This is a collaboration with the general management of the Treasure and the country’s accountant general’s office for regional investment operations. The main goal is to boost the country’s technological ecosystem.
Better still, entrepreneurs and business plan holders will receive funding of up to 150 million dinars per project.
Created in October 2020, the Algerian Startup Fund is not lacking in initiatives. Its mission is to promote the development and growth of young shoots. This operation will cause a craze that will allow the country to position itself in the competition in the field on an African scale.
Last June, a study conducted by the platform “Africa: the big deal” showed the presence of the country in the top 5 of its area. It was revealed that Algerian startups raised more than $35 million between 2019 and May 2022, ranking fourth in the North Africa region. A ranking that could well improve in 2023.