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Algeria is set to launch sector-specific investment funds aimed at supporting 20,000 startups by 2029, focusing on energy and tech innovation. This initiative, backed by the state-owned Algérie Télécom, seeks to enhance the startup ecosystem and position Algeria as a North African innovation hub.In the MENA region, venture capital investments surged to over $690 million in Q1 2025, with Saudi Arabia leading the charge, accounting for 50% of the total funding. Meanwhile, Moroccan fintech PayTic raised $4 million to enhance payment automation across Africa, addressing critical operational challenges in the financial sector.
Algeria is set to launch sector-specific investment funds aimed at supporting 20,000 startups by 2029, focusing on innovation in AI, energy tech, and deep tech. The initiative, backed by the Minister of Knowledge Economy, seeks to enhance funding and create a resilient economy through collaboration with international institutions. Algérie Télécom is also investing $11 million to promote AI, cybersecurity, and robotics, further solidifying Algeria's ambition to become a North African innovation hub.
The MENA region is emerging as a key player in global venture capital, with Algeria launching sector-specific funds to support 20,000 startups by 2029, focusing on AI and renewable energy. Meanwhile, Moroccan fintech PayTic has raised $4M to enhance payment automation across Africa, and Saudi Arabia's Sary has merged with Bangladesh's ShopUp to form SILQ, a B2B platform backed by $110M in investments, aiming to connect Gulf and South Asian markets.
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algeria launches investment funds to support 20000 startups by 2029
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16:14 12.04.2025
Algeria plans investment funds to support 20000 startups by 2029
16:52 11.04.2025
mena venture capital investments surge to 690 million in first quarter 2025
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16:42 11.04.2025
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