The third edition of the “Algeria Startup Challenge” program has just been launched. This year’s edition will be dedicated to innovation in the industrial sector.
Placed under the sponsorship of the Algerian Minister responsible for the Knowledge Economy and Startups, the program aims to “bring together the actors of the ecosystem of innovative entrepreneurship in Algeria, the carriers of innovative projects and startups towards the goal of creating the innovations of tomorrow.”
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Here Is What You Need To Know
- After the “dazzling success” that the program has met since its creation in 2018 during its last two editions, the Algeria Startup Challenge returns this year with a new vision oriented towards innovation at the service of industries, thus responding to their needs in this area, underline the organizers.
- The 3rd edition will be organized under the umbrella of Leancubator, a company specializing in the design of incubation programs and support for innovative entrepreneurship, and “which focuses on human capital in the development of innovative projects, creators of values, ‘’ the statement read.
- The event is organized in the form of challenges in specialist industries: Foodtech Startup Challenge, Fintech Startup Challenge and GreenTech Startup Challenge, Logistics Startup Challenge.
- The first challenge is sponsored by the intersectoral committee “Algeria Food Security Innovation” bringing together several ministries namely, Fisheries and fishery products, Agriculture and Rural development, the ministry delegated to the Prime Minister in charge of the Economy of knowledge and Startups, Higher Education and Scientific Research, Vocational Training and Education as well as the Ministry of Industry. It targets three main sectors of the food system namely, smart agriculture, innovation in aquaculture and food security.
- Regarding the Fintech Startup Challenge, it is explained that, in collaboration with the Commission for the organization and supervision of stock exchange operations (COSOB), this program targets projects in Insurtech, Fintech or even Regtech and risk management .
- As for the GreenTech Startup Challenge module and Logistics Startup Challenge, it is specified that the latter relies on the collaboration of the main players in each sector, namely, public and private organizations, the national network of incubators and accelerators, investors and investment organizations and community partners (science clubs and student associations).
- As part of this 2021 edition, it is also planned to organize training sessions, Speed Dating, open innovation opportunities and other measures allowing real support for the winners in each industry.
- A national call for projects will be launched “very soon” on the official website of the program for the attention of any project leader / startup wishing to take part in this program, according to sources.
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