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December 7, 2022 | 2 years ago

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Start-up Financing Fund: more than 80 start-ups financed until December 2022

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He spoke outside the first African start-up conference, held in Algiers. He said that "the funded companies are currently in operation, marketing their services and goods locally", expressing the Fund's wish to see these companies enter the continental market, especially after this important conference.

The Fund, which recently strengthened its funding capacity under an agreement with the Treasury Directorate General for funding wilaya investment funds, has reviewed a total of 350 applications for funding since its inception in October 2020, reviewing between 20 and 25 applications per month.

 

It offers three funding possibilities depending on the type of start-up concerned, namely funding up to 5 million DA as a maximum threshold for newly launched start-ups, another dedicated funding for already existing start-ups amounting to 2 billion DA, and the last is reserved for rather mature start-ups, which can benefit from funding up to 15 billion DA maximum.

To date, start-ups across 22 wilayas specializing in 18 fields of activity have been financed, as part of a purely economic approach, given that the Fund does not require interest, it deals with these companies as a partner.

December 7, 2022 | algeria-logo

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