The Algerian Fund for Start-ups (AFS) has granted 510 million Algerian dinars (about 3.5 million USD) in financing to initiators of innovative projects, said its director of participations, Hachani Okba, on March 5, 2022 in Algiers. .
According to the official who was speaking at the 2nd edition of the National Conference of Start-ups, the projects financed concern 18 sectors of activity, in particular services, information and communication technologies, health, transport and tourism. . The data shows 390 beneficiaries, compared to only 65 in the first twelve months of activities of the fund launched in October 2020.
Also speaking on the same occasion, the Minister Delegate to the Prime Minister in charge of the Knowledge Economy and Start-ups, Yacine El Mahdi Walid, indicated that the State has adopted new mechanisms relating to the support costs relating to invention patents and intellectual property.
With a capital of 1.2 billion Algerian dinars held by six public banks, the start-up financing fund is a public investment capital company dedicated to financing start-ups and innovative projects. It is based on a financing mechanism that relies on taking a stake in the capital of startups for a limited period, and aims to develop the ecosystem and put startups on a path of sustainable growth as well as to help these companies. to export their products and services.