President Abdelmadjid Tebboune, during the Cabinet meeting he chaired on Sunday, reiterated the Algerian government’s commitment to continue financing and supporting startups, with an increased role for the private sector in this endeavor. The statement from the Cabinet session noted the President’s response to a presentation on startup financing, where he confirmed the state’s ongoing support for this burgeoning sector, which has seen significant growth in recent years, with the inclusion of private sector participation and incentives.
President Tebboune emphasized that the focus should shift towards quality over quantity in the startup arena, highlighting that startups represent an economy of knowledge, intelligence, and economic efficiency. He stressed the importance of targeting financing efforts towards the youth and ensuring that the quality of new projects is prioritized.
This strategic approach is designed to foster a robust ecosystem for startups, facilitating innovative and sustainable economic development. The involvement of the private sector is expected to introduce additional resources and expertise, thus enhancing the overall impact and success rates of these enterprises.
For more insights, visit dzwatch.dz.
