The Algerian Confederation of Citizen Employers (CAPC) has launched a support program for innovative projects, based on applied knowledge and creativity, called “Innovate Algeria”. 

“Innovate Algeria is a catalyst program for the knowledge-based economy. It aims at the development of entrepreneurial projects that are based on applied knowledge, creative development and autonomy in the design and engineering of new products and services “, the president of the Startups commission at the CAPC, Mr. Bezzitouni Chams-Eddine said. “Through this program, investors under CAPC, but also all interested investors, will embark on venture capital to encourage startups, which are companies generally not eligible for bank loans.”

Here Is What You Need To Know

• The new initiative of the employers’ confederation will offer promoters of innovative projects support ranging from training to opportunities for fundraising and internationalization, including strategic advice and business development.
• The president of the CAPC, Mohamed Sami Agli, noted that the “Innovate Algeria” program included, as a first action, the support of the winners of HackAlgeria.
• Thus, winners of HackAlgeria will be able, thanks to this initiative, to promote their projects during important meetings dedicated to innovation such as the Emerging-Valley, in December 2020 and VivaTech during the year 2021, but also at MIT.
• These winners will also join, at the beginning of October, the “Innovate Algeria” program, which will support them, until the end of April, 2021 in the realization of their projects, after the end of the fundraising operations, which would start in May. 2021.

Read also: A New $160m Energy Inclusion Fund Launched for Solar Energy Startups In Africa

The HackAlgeria # PostCovid19 had received 350 ideas from over 1500 participants across more than 48 provinces of the country, with a record participation of students, over 50%, and women, over 30%. 171 projects were in competition: 63 projects in Healthcare, 47 projects around Society, 30 projects for the economy, 19 in governance and finally 12 projects in FinTech Finance. At the end of this technological marathon, which took place ‘took place completely online, via the HACKALGERIA platform, the jury selected the 20 winners of the competition.

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