The Tunisian startup ecosystem should be enriched with new facilities that will further stimulate the business environment. According to Heithem Mehouachi, CEO of SMART Capital, the operator in charge of the Startup Act, emphasis will be placed on funding under the new arrangement.
Here Is A List Of The New Measures To Be Implemented Soon In Favour of Startups
- According to Mehouachi, a bill is planned to encourage companies to strengthen cooperation with researchers, universities and technology parks; an innovative entrepreneurship conversion program to target 1,000 doctors.
- There are also plans to create a fund of 240 million dinars ($84 million) to finance innovation projects;
- A funding mechanism of up to 3 million dinars ($1 million), to support labeled startups which have been impacted by Covid-19;
- A startup guarantee fund, or guarantee mechanism for interests in start-ups, up to 10 million dinars ($3.5 million);
- A support program for the ecosystem of start-ups up to 20 million dinars ($7 million), to finance research and innovations of project leaders; a pilot program of state startups, up to 50 million dinars ($17.5 million), and a state innovation laboratory, up to 10 million dinars ($3.5 million).
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Smart Capital ‘s Heithem Mehouachi, who explained that the development of the Tunisian start-up ecosystem requires the financing of innovators, said that 13 investment funds will be created for this purpose. Comprising six seed funds, four Seed / Early Stage funds and three Late Stage funds, in order to cover the entire financing chain, they will form a Fund of funds whose target size is 200 million euros .
The fund would also be operational in the fourth quarter of 2020.
By taking stock of the existing state of the entrepreneurial ecosystem in Tunisia, Haythem Mehouachi said that the Startup Act adopted in 2018, has already enabled the labeling of 292 startups.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer.