Roadmap to support startups in Algeria

APS - 04 February 2020

ALGIERS- Ministry of Micro-Enterprise, Startups and Economy of Knowledge will establish a legal, regulatory and financial framework devoted to the startups and their incubators through a roadmap that will enable these companies to contribute efficiently to the development of the national economy.

Presenting a report in the meeting of the Council of ministers, held Monday under the chairmanship of President of the Republic Abdelmadjid Tebboune, Minister of Micro-Enterprise, Startups and Economy of Knowledge Yassine Djeridene said that his department will work for the establishment of a legal, regulatory and functional framework for the startups as well as the determination of ways to assess their performance and development of a roadmap to finance them.

This financing will involve the Stock Exchange and private equity, according to the minister's report.

The development of almost total tax exemption mechanisms, to enable the youths to contribute efficiently to freeing the national economy from the dependence on hydrocarbons, was also announced.

During the first quarter of current year, the minister will set up the legal bases of technology transfer institutes, providing for a pilot phase that will be launched in two universities via two centers specialized in the fields of artificial intelligence and the internet of things, in collaboration with the Algerian experts established abroad.