Algeria Venture Partners with TotalEnergies Algeria to Support “Startupper of the Year” Challenge
✏️ BY: Dr. Hana Saada
Algiers, Algeria | May 19, 2024 — In a significant step towards fostering innovation and entrepreneurship in Algeria’s energy sector, Algeria Venture (A-Venture), the public startup incubator, has joined forces with TotalEnergies Algeria to bolster the 4th edition (2024-2025) of the “Startupper of the Year” challenge. This collaboration aims to recognize and support the most innovative projects in the energy domain, amplifying opportunities for young entrepreneurs across the country.
The signing ceremony, held in Algiers and graced by the presence of Minister of Knowledge Economy, Startups, and Micro-enterprises Yacine El-Mahdi Oualid, marked the formalization of the partnership between A-Venture’s Director-General, Sid Ali Zerrouki, and TotalEnergies EP Algeria’s General Manager, Moufdi Zakaria Chikh.
The “Startupper of the Year” challenge, spearheaded by TotalEnergies Group across 32 African nations, including Algeria, is designed to nurture and empower young entrepreneurs with nascent business projects or startups less than three years old.
Minister Oualid underscored the significance of this competition for Algerian startups, offering them a unique opportunity to engage with a major global energy player and expand their footprint across the continent. He accentuated Algeria’s robust local capabilities in the energy sector, incubated within Algerian universities, poised to catapult the nation as a frontrunner in supplying energy-related technologies worldwide in the foreseeable future.
Emphasizing the burgeoning market potential for innovation in Algeria, particularly in hydrocarbons, renewable energies, energy transportation and storage, and greenhouse gas emissions reduction, Minister Oualid reaffirmed the government’s unwavering commitment to bolstering research, development, and open innovation, including extending fiscal incentives to startups.
Zerrouki, A-Venture’s Director-General, expressed optimism about the partnership’s ability to elevate Algeria as a hub of innovation, particularly in the energy and eco-responsibility sectors. He envisaged the collaboration breathing fresh life into Algerian innovation, nurturing groundbreaking ideas poised to revolutionize the nation.
Chikh, TotalEnergies EP Algeria’s General Manager, elucidated that the agreement aimed to champion innovation and national talent in entrepreneurship. He outlined that a distinguished jury comprising experts, startup stalwarts, corporate leaders, and local sustainable development stakeholders would meticulously select three winners in Algeria.
The winners will be acknowledged across three categories: “Innov’Up” for the most outstanding entrepreneur, “Cycle Up” for circular economy initiatives, and “Power Up” for sustainable and affordable energy projects.
The 4th edition of the challenge coincides with the centenary celebrations of the hydrocarbon company, with plans to felicitate 100 project-bearing entrepreneurs across the African continent in December. The national final is slated for October.
The organizers underscored that the laureates would receive financial backing, enhanced visibility, and comprehensive support to materialize their visions, thereby catalyzing the diversification and modernization of the Algerian economy.
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