Economy

Creation of more than 700 startups at the national level

The Minister Delegate to the Prime Minister in charge of the Knowledge Economy and Startups Yacine El Mahdi Walid announced today, Tuesday in Oran, the creation, as at this November, of more than 700 startups at the national level.

Yacine Al Mahdi highlighted in a press statement on the sidelines of his inspection visit to the province of Oran that “more than 700 startups have been created at the national level, and this number is increasing,” stressing the need to “improve quality in the activity of startups to give a real added value to the national economy.” .

He stressed that startups are providing real support for Algeria’s exports, especially in the field of exporting digital services, and contribute to bringing in hard currency on the one hand and getting out of technological dependence on the other.

The Minister Delegate renewed the support and accompaniment of his ministerial department for business incubators and startups, especially with regard to the issue of financing, in the framework of the Startups Fund, pointing out that “a program for financing business incubators will soon be launched.”

In the same context, Yacine Al Mahdi Walid affirmed that the Startups Fund have financed more than 65 start-ups at the national level, while there are more than 80 other files under study, calling for the creation of branches of the Fund across the various country’s provinces .

The Minister Delegate to the Prime Minister in charge of the knowledge economy and startups highlighted that such incubators are considered as centers of innovation and capacity development.

Yacine Al Mahdi pointed out that “every university at the national level has at least one incubator, while the number of private incubators increased during the last six months at the national level from 14 to more than 42 incubators.”

Meanwhile, he stated that a series of meetings were recently held with the organizing committee of the 19th edition of the Mediterranean Games, which will be hosted in Oran in the summer of 2022, saying that “a large number of startups have provided solutions in terms of digitizing the organization of these games and some promotional applications on the occasion of Algeria’s hosting of this Mediterranean event.”

He also mentioned a number of administrative measures taken by his ministerial department to simplify documents for the benefit of startups, such as digitizing procedures, reducing the number of documents, and processing and studying files, underlining the efforts of his department’s services in coordination with the Ministry of Trade and Export Promotion to generalize the process of setting-up companies through the Internet.

During his meeting with the owners of a number of startups and innovative entrepreneurs at the level of the Chamber of Commerce and Industry of Oran, Yacine Al Mahdi Walid urged for the reactivation of the role of the Chambers of Commerce and Industry at the national level to support the owners of startups.

The Minister Delegate to the Prime Minister in charge of the Knowledge Economy and Emerging Enterprises also visited the “West Innov” business incubator and the “Makers Lab” startup accelerator, and also chaired the official launch of the data center for the “EcoSnat” company.

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