The delivery of a first public startup accelerator in Algeria is scheduled for the end of the current year, 2020 the Algerian Minister Delegate to the Prime Minister in charge of the knowledge economy and startups Yacine El Mehdi Oualid said on Wednesday.
During an inspection visit to inquire about the progress of the work of the first accelerator project “Dar-Tech” at the Dounia Park in Algiers, the Minister Delegate emphasized that it is imperative to provide startups with the working climate, including spaces to boost and accelerate innovation.
In addition to innovative companies, project leaders also require spaces and means capable of promoting their innovation and smoothing out the difficulties and obstacles they may encounter in the field, he underlined.
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Welcoming the progress of the project carried out according to international standards, Mr. Yacine Oualid assured that the sector would be strengthened by other projects for the realization of similar “accelerators” across several provinces in Algeria, the goal being to promote technical innovation,digital and technological within the framework of the recommendations of President Tebboune.
This project, to be delivered at the end of 2020, is carried out by the Sonatrach Group and the provinces of Algiers, including two corporate bodies contributing to the national effort to promote startups and skills.
Once ready, this accelerator will become a space for debate of ideas and a crossroads bringing together owners of accelerators and incubators, representatives of banks and research centers and representatives of public and private companies who will of course benefit from the new projects to optimize their performance.
According to the explanations provided during the visit of the ministerial delegation, the incubators are called upon to develop the ideas proposed by the project leaders by accompanying them to crystallize the project in a period of 9 months.
The project leaders then turn to the accelerators to seek together the means of financing the project in 2 or 3 years, sufficient moreover to translate the idea into the field. The first of its kind in Algeria, this accelerator is intended to be a crossroads for technological innovation and will be based on a digital data platform including information from national and foreign operators as well as the various stakeholders in supporting project leaders.
This project, the realization of which began in July 2019, will be managed by a private company to be set up under the authority of the startups department which will be responsible for introducing and scheduling information from both project leaders and of the operators concerned.
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