• Algeria plans to launch specialized investment funds to overcome financing challenges and reach 20,000 startups by 2029.
• Two new funds will focus on conventional and renewable energy, following a recent AI and ICT fund launch.
• The ministry collaborates with international institutions to help local startups grow and access markets in Africa and the Arab region.

What happened?  Algeria is preparing to launch more specialized investment funds across various sectors. This is in an effort to overcome financing challenges, diversify funding sources. As well as, achieve the goal of reaching 20,000 startups by 2029,  according to Nourreddine Ouadah, Minister of Knowledge Economy, Startups, and Micro-enterprises.

In an interview with Asharq on the sidelines of the Moudjahid Forum in Algiers, Ouadah stated that the ministry is collaborating with the energy sector to launch two new funds. This includes one that focuses on conventional energy technologies and the other on renewable energy. This comes after launching a fund focused on artificial intelligence and information and communication technologies a few weeks ago. 

International Markets

International Scaling The ministry is also collaborating with international institutions, such as the Islamic Development Bank Group. This is to launch investment funds with international standards.  These funds aim to help local startups grow and enable them to access foreign markets, particularly in Africa and the Arab region.
Latest Funds It is worth noting that recently Algeria’s state-owned telecom company Algérie Télécom announced USD 11 million (DZD 1.5 billion) investment fund. The purpose was to support AI startups, cybersecurity and robotics. In addition, the aim is to establish 20,000 startups, and invest in AI-focused universities,and incubators.