BY: Hana Saada
ALGIERS- In recent years, Algeria has experienced rapid growth in the field of knowledge-based economy and startups, achieving significant progress that positions it as a leader on the African continent. President Abdelmadjid Tebboune, in an address delivered by Prime Minister Nadir Larbaoui at the African Startup Conference, emphasized the remarkable strides made in creating a national ecosystem that catalyzes initiative and innovation.
President Tebboune noted that the established ecosystem has led to qualitative advancements in startup creation, enabling Algeria to secure a prominent position as a continental leader. The President addressed over 10,000 participants, including 30 African ministers, key decision-makers, 250 exhibitors, and 150 foreign investors at the conference.
During the event, President Tebboune urged business leaders, officials, and project initiators to collaborate in integrating startup concepts, innovation, and entrepreneurship into the economic systems of African countries. He highlighted the exceptional capabilities of African youth in mastering information and knowledge flows offered by new technologies.
“The time has come to recognize the magnitude of the challenge,” President Tebboune stated, emphasizing the need to catch up and work towards harnessing capabilities and expertise in creating businesses, fostering creativity and innovation to increase productivity and economic growth for “strengthening the independence of political and economic decision-making.”
President Tebboune emphasized that embracing innovation-based entrepreneurship is a key mechanism to address the issue of unemployment. He called on African governments to prioritize startups, citing their proven ability to elevate numerous economies in Europe and Asia to high levels of economic performance, wealth creation, and the establishment of sustainable development foundations.
The President reaffirmed Algeria’s commitment to sharing its expertise with Africa. “From this platform, we reaffirm Algeria’s commitment to make its startup expertise accessible to African brethren through spaces for exchanging expertise, such as today’s conference,” he affirmed.
Algeria’s Startups Lead in Africa
Algeria’s dedication to developing innovation and revitalizing startups, recognized as a major national priority, has yielded significant results. Substantial resources have been mobilized by the government to organize and support this promising sector, accelerating economic development.
These measures proved highly effective, propelling Algeria to the second position in Africa and 18th globally, according to the latest rankings from the Startup Ranking platform. In just six months, Algeria gained over 40 positions on the international stage.
In March, Algeria ranked 61st globally with 132 startups. By October, it surged to over 800 startups meeting ranking criteria, narrowly trailing Nigeria (803) and surpassing Egypt (629) and South Africa (489). Internationally, Algeria outperformed several developed countries, including Sweden, Russia, and China.
In November, nearly 2,000 startups received recognition as the best startups, a testament to the collaborative efforts between the Ministry of Economy of Knowledge, Startups, and Micro-Enterprises and the Ministry of Higher Education and Scientific Research. This achievement aligns with the government’s strategy to encourage the emergence of highly qualified entrepreneurs.
The government’s initiatives, such as supporting and incubating innovative projects, establishing technological hubs, launching dedicated research platforms, and providing spaces for startup domiciliation, showcase a commitment to channeling capital toward startups that hold promising prospects for the national economy.
