L’Expression: Nationale – The good vein of start-ups

The attractiveness of the new investment law in Algeria was part of the defense of the Minister of Knowledge Economy, Start-ups and Microenterprises, Yacine El-Mahdi Walid, during a meeting on the sidelines of the eighth edition of the Rome Med Summit, in Italy. The Minister of Start-ups estimated, before an audience of ministers and experts, that “the knowledge economy and start-ups represent the pillar of wealth creation and added value in the country and are at the heart of the new guidelines of the Algerian economy” The Minister, who was speaking within the scope of a workshop on investment in North Africa and the Middle East, during the Euro-Mediterranean forum, confided that “start-ups and the knowledge economy contribute to making Algeria a privileged destination for investors and foreign capital”. Explaining the new Investment Code, recently enacted, Yacine El-Mahdi Walid painted an exhaustive picture of the advantages and incentives contained in this new law, aimed at improving the investment and business climate in Algeria. the engine of the national economy, start-ups have benefited from particular attention, since the inauguration of the President of the Republic to the supreme position. Incentive measures for project promoters, who tend to prioritize high technology projects, have been granted by the country’s national authorities. As a result, the country has become an incubator for projects in formation, a start-up nation in growth, the work of young project leaders, as innovative as they are bearers of undeniable wealth. Freed from bureaucratic constraints and attracted by incentives and numerous facilities, young project leaders have faced risks and obstacles to bring their respective projects to life. As an example, we will cite the case of the Algerian Start-up Funds (ASF), a public venture capital company owned by six banks and endowed with capital of 1.2 billion DA, i.e. the equivalent of 6 .4 million euros. The project nomenclature includes eighteen sectors of activity eligible for funding and support conditions. The organization in question has granted, since its creation in 2001, more than 510 million DA, the equivalent of 3.2 million euros to various projects, including services, information and communication technologies, health, transport and tourism… flexibility consisting, in addition to support and monitoring missions, of a mechanism for participation in the capital of start-ups for a limited period. Algeria has, in fact, invested in this vector that generates wealth and a certain added value, by promoting an ecosystem capable of allowing the expansion and progression of these start-ups. Among the other mechanisms implemented to facilitate the emergence of a favorable ecosystem, we can mention Algeria Venture, the famous public accelerator that boosted several project promoters. A magic box to access a magical world of opportunities and ambitious prospects. Labeling is also a process that has brought a lot of young companies and project leaders to take the plunge. The Algerian government, under the leadership of President Tebboune, has also enacted legislation to revitalize this sector. The most recent text is the self-entrepreneurs law, which should open wide the doors to young people who work in sectors and professions of faith, hitherto not covered by legislation. Professions that are related to the knowledge economy and new technologies, a priori. Also included in this specific framework is the enactment of the law on special licenses granted to civil servants to set up their own companies. Thus, the new regulatory framework allowed the emergence of a new generation of businesses in Algeria, paving the way for a new era in entrepreneurship and wealth creation in the country.

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