The government has decided to raise this fund for the development of the technology sector. A scheme to provide assistance to various project leaders.
From the beginning, the 411 million dollars equals the 58 billion dinars at the heart of the current plan. The Algerian Startup Fund plans to provide this amount.
It is a collaboration of public administration Treasure and the Office of the Accountant General of the country for regional investment activities. The main objective is to improve the technology ecosystem of the country.
Even better, 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 short on initiatives. Its purpose is to promote growth and development of young shoots. This operation will create a frenzy that will allow the country to position itself in the competition at the African level.
Last June, a survey conducted by the site “Africa: The Big Deal” showed the country in the top 5 in its region. Algerian startups raised more than $35 million between 2019 and May 2022, ranking fourth in the North Africa region. Upgradeable ranking in 2023.