ECONOMY

More than 300 emerging companies labeled Start-up

ORAN - More than 300 emerging companies and holders of an innovative project have obtained the "Start-up" label granted by the authorized national committee, Deputy Minister for knowledge economy and start-ups, Yacine El Mahdi Oualid said on Saturday.

"Obtaining the label will allow these companies receive several advantages, in particular financing by the Investment Fund, created by the ministry. They will also benefit from tax exemptions as part of the Finance Law 2021," said the deputy minister on the sidelines of a regional conference on start-ups, organized at the Mohamed Benahmed Convention Center in Oran.

A start-up is any company subject to Algerian law that complies with the standards and conditions. Its business model depends on products, services or any innovative idea.

Yacine El Mahdi Oualid announced the opening of a section of the start-up accelerator "Algeria Venture" in Oran.

Other sections will also be opened in various provinces, he said.