The Ministry of Communication Technologies recently gave seventeen additional startup labels, increasing the total number of labels granted to 801, as part of the “Startup Act” initiative, which aims to support start-ups formed or established in Tunisia.
According to the government, these labels were awarded during a ceremony conducted on Monday for the month of November.
According to the third annual report “Startup Tunisia” by Smart Capital, the company in charge of administering this national programme, published at the end of October 2022, the year 2021 was highlighted by an exponential growth in applications and labelled startups.
The number of labels given grew by 17.2% from 192 in 2019 to 245 in 2021.
According to the same survey, the Tunisian startup ecosystem is still young and consists primarily of firms that are just starting out.
Almost 73% of startups were created within the last three years, while 18.31% were founded within the last year and 14.38% were founded between four and six years ago. The number of startups does not exceed 1.91% after 7 years.
Tunisia’s capital, Tunis, has the biggest concentration of startups (62.3% of job creation in 2021).
Apart from Greater Tunis, the central and northeast regions remain the most appealing for startup employment, accounting for 13.3% of total job creation in the central and 12.2% in the north.
With respective amounts of 5.6%, 2.8%, and 2.8%, the south-east, north-west, and center-west are the regions with the lowest number of employment produced.
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Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard