Algiers will host the fourth African Startup Conference, starting Saturday, providing a crucial platform to explore new mechanisms for funding innovative entrepreneurs. The conference is considered a cornerstone of the continental ecosystem for startups.
Juste Momoh Ibe, President of the African Startup Association (TAS Africa), stated that the conference, scheduled for December 6-8 in the capital, presents an opportunity for African governments to adopt innovative funding models, expand innovation funds, and offer tax incentives to investors in the innovation sector.
Access to finance remains a significant challenge for startups in Africa. Banks often require substantial guarantees that are disproportionate to the nature of these businesses, while foreign investors view the African market as high-risk.
Beyond funding, startups on the continent face challenges including improving digital infrastructure, specifically high-speed internet, innovation incubators, cloud solutions, and public-private partnerships. These improvements would allow startups to focus on developing their products and expanding into new markets, according to the TAS Africa President.
The instability of regulatory texts, complex administrative procedures, and a lack of harmonization also pose obstacles to the growth of startups in many African countries. The conference will address these issues through direct dialogue between governments and various actors in the startup ecosystem.
Several African countries have made notable progress in improving their startup ecosystems, offering models that can be adopted across the continent. The conference will also discuss the importance of harmonizing economic and trade laws between African countries to facilitate startup access to various markets.
The fourth Startup Conference in Algiers provides an opportunity to strengthen this convergence and support cross-border cooperation between innovative companies. TAS Africa is developing a comprehensive resource bank to build innovative enterprises capable of creating wealth and enhancing the contribution of the digital economy.
