President Tebboune Doubles Startup Award Financial Values

A recent presidential decree, signed by President Abdelmadjid Tebboune, has increased the financial prizes for winners of the President of the Republic's Award for Best Startup. The decree, identified as Presidential Decree 26-277, modifies a previous regulation, Presidential Decree 26-86, which established the award. This move aims to bolster support for innovation and entrepreneurship within Algeria's developing knowledge economy.

Under the revised regulations, the top prize for the “Best Accelerated Startup” category has been doubled to 6 million Algerian Dinars, up from 3 million Dinars previously. Similarly, winners in the “Best Startup” category will now receive 4 million Dinars, an increase from 2 million Dinars. For the “Best Innovative Project” category, the award has been raised to 3 million Dinars, an increase from 1 million Dinars. In cases of collective achievements within the “Best Innovative Project” category, the prize money will be distributed equally among the winning parties.

The award is intended to encourage innovation and entrepreneurship while fostering the growth of the knowledge economy and startups. A judging committee, appointed by the Minister responsible for Startups, will evaluate the entries. This committee, which will serve for one year with potential for one renewal, includes representatives from the Minister responsible for Startups, international experts in modern technologies and venture capital, members from the National Committee for granting specific labels, and a representative from the National Institute of Industrial Property. The committee is also authorized to seek assistance from qualified individuals or experts to aid in its work.