Algeria is developing an ecosystem to establish and support startups as part of its new economic policy. The aim is to diversify the economy and strengthen productive sectors and the knowledge economy.
President Abdelmadjid Tebboune set out this goal in a message to around 1,000 participants at the first national startup conference, Algeria Disrupt 2020, held in Algiers in October 2020. On that occasion, he announced the official launch of the National Startup Financing Fund, with capital of 1.2 billion dinars.
The fund was established through cooperation between the Ministry of Knowledge Economy, Startups and Micro-enterprises and six public banks. It finances companies that have received the “Startup” label.
