Algiers – A new funding mechanism is being implemented to bolster innovation and entrepreneurship within Algerian universities. The initiative aims to provide crucial financial support to promising student projects, facilitating their transition from concept to tangible reality.
Minister of Higher Education and Scientific Research, Kamal Baddari, confirmed that his ministry has engaged with the Ministry of Finance to streamline the disbursement of funds allocated for prototype development. This collaboration seeks to address bureaucratic hurdles and ensure the timely realization of innovative university projects.
The Minister announced the allocation of 500 million Algerian dinars from the sector’s 2025 budget to finance 331 innovative projects. These projects were selected for initial funding by a specialized national committee comprising experts from the relevant ministerial departments.
This announcement came in response to a parliamentary inquiry regarding the funding of winning projects from the national ProtoMarket challenge and concerns raised by student innovators regarding funding procedures.
Baddari explained that the initial funding mechanism for innovative university projects stemmed from the work of a joint task force established at the Prime Minister’s office. This task force was tasked with exploring ways to finance startups and innovative projects, aligning with the national goal of creating 20,000 startups.
He added that the mechanism was developed through multiple meetings involving representatives from the higher education, finance, and knowledge economy sectors, as well as startup and micro-enterprise stakeholders. The funding procedures were finalized during meetings at the Ministry of Finance, with the participation of the ministry responsible for startups. The entire regulatory framework was validated during coordination meetings held at the Government Palace.
Baddari emphasized that the necessary procedural framework for implementing the mechanism has been finalized following coordination with the Ministry of Finance. The Minister of Finance has dispatched instructions to ensure the smooth operationalization of the new funding initiative.
This initiative represents a significant step towards fostering a culture of innovation and entrepreneurship within Algerian universities, empowering students to translate their ideas into impactful ventures.
