Good news for project leaders and Algerian startups. The public start-up accelerator Algeria Venture (A-Venture) has just signed two important agreements.
Indeed, the first agreement was signed yesterday Tuesday with Algeria Investment Fund (AIF). A partnership aiming to provide financing for all stages of a startup’s life, from creation, seed and up to the acceleration that could lead to its IPO.
With a capital of 11 billion dinars, the AIF was created in 2021 following a partnership between the National Bank of Algeria (BNA) and the External Bank of Algeria (BEA). Today, this investment fund will be made available to Algerian startups that represent an interest for the national economy.
A partnership to encourage start-ups in the field of energy
The second partnership of Algeria Venture was signed, this Wednesday, May 11, with the American company Schlumberger. An agreement that helps support start-ups working in the field of energy, in terms of technological expertise.
Speaking at the signing of the agreement, the Minister of Startups, Yacine El-Mahdi Oualid, said that this partnership “will further encourage startups and innovative project leaders in the energy sector, which is vital for the national economy”.
For his part, Sid Ali Zerrouki, the general manager of A-Venture, explained that it will be a question, within the framework of this convention, of making the inclusion of Algerian startups in the digital transformation of the oil sector.
“Thanks to the signing of this agreement, it will be possible to go with Algerian startups beyond our borders and export to the countries of the region,” he said.