A presidential decree has been issued to create the President of the Republic’s Award for the Best Startup, aiming to stimulate innovation, entrepreneurship, and the development of a knowledge-based economy within the country’s burgeoning startup ecosystem.
President Abdelmadjid Tebboune signed Presidential Decree No. 26-86 on January 19th, formally establishing the award. The initiative seeks to recognize and reward outstanding achievements across three distinct categories: ‘Best Accelerated Startup,’ ‘Best Startup,’ and ‘Best Innovative Project’.
The decree outlines substantial financial prizes for the winners. The first-place recipient in the ‘Best Accelerated Startup’ category will receive 3 million DZD. The ‘Best Startup’ category winner will be awarded 2 million DZD, while the ‘Best Innovative Project’ will receive 1 million DZD. In the case of collaborative efforts winning the ‘Best Innovative Project’ award, the prize money will be distributed equally among the team members.
The selection process will be overseen by a judging panel appointed by ministerial decree from the Minister in charge of Startups. The panel will serve for a term of one year, renewable once. The committee will comprise representatives from the ministry, an international expert in modern technologies, a national expert in the same field, and a national or international expert in venture capital.
Furthermore, the committee will include two members from the National Committee for granting the ‘Startup,’ ‘Innovative Project,’ and ‘Business Incubator’ labels, as well as a representative from the National Institute of Industrial Property. The decree stipulates that the committee may consult with any qualified individual or expert to assist in its work. The award ceremony will be held annually during Global Entrepreneurship Week in November.
The Ministry in charge of Startups will announce the details of the competition.
