Algiers – A new designation aimed at fostering rapid growth within Algeria’s startup ecosystem has been officially established. According to Decree No. 81 in the Official Gazette, the label “Scale-Up” (Mu’assassa Mutasari’a in Arabic) will be awarded to eligible companies.
This initiative, spearheaded by the Ministry of Knowledge Economy, Startups, and Micro-enterprises, seeks to identify and support startups that have successfully navigated the initial launch phase and are demonstrating significant growth potential. The “Scale-Up” label aims to provide these companies with enhanced visibility and access to resources, further accelerating their expansion.
The specific criteria for qualifying as a “Scale-Up” company are expected to be detailed in subsequent ministerial decrees. However, it is understood that factors such as revenue growth, job creation, and market penetration will be key considerations. The program is designed to incentivize startups to move beyond the initial stages of development and achieve significant economic impact.
The creation of the “Scale-Up” label is the latest in a series of measures undertaken by the Algerian government to promote innovation and entrepreneurship. By providing targeted support to high-growth startups, the government hopes to create a more dynamic and competitive business environment, ultimately contributing to the diversification of the Algerian economy.
The initiative is anticipated to have a positive impact on Algeria’s knowledge economy, encouraging innovation and creating new opportunities for young entrepreneurs. Further details on the application process and benefits associated with the “Scale-Up” label will be released by the Ministry in the coming weeks.
