Algeria is going all-in on entrepreneurship! As part of its bold vision to support 20,000 startups by 2029, the country has unveiled a series of specialized investment funds targeting key industries like AI, energy, and ICT. This move is part of Algeria’s broader push to overcome funding challenges, diversify investment sources, and boost its knowledge-based economy.
What’s new with these tech funds in Algeria?
In an interview during the Moudjahid Forum in Algiers, Nourreddine Ouadah, Minister of Knowledge Economy, Startups, and Micro-enterprises, revealed that two new investment funds are in the pipeline:
- âś… One for conventional energy technologies
- âś… Another focused on renewable energy solutions
These initiatives follow the recent launch of an AI and ICT-focused fund, reinforcing the country’s commitment to future-forward industries.
Algeria thinking Global, acting Local with funds
Algeria’s government isn’t just thinking domestically—they’re setting their sights on international expansion too. The ministry is working closely with global partners, such as the Islamic Development Bank Group, to:
- âś… Launch funds that meet international investment standards
- âś… Help local startups scale and break into foreign markets
- âś… Focus on strategic regions like Africa and the Arab world
This strategy is designed to elevate Algerian startups to a global level and position the country as a regional innovation hub.
Boosting AI & Tech Innovation
Earlier this year, Algeria made headlines when Algérie Télécom, the state-owned telecom provider, launched a $11 million (DZD 1.5 billion) investment fund. This fund specifically supports startups working in:
- âś… Artificial Intelligence (AI)
- âś… Cybersecurity
- âś… Robotics
But that’s not all—the plan also includes investing in:
- âś… AI-focused universities and incubators
- âś… Infrastructure to nurture tech talent and drive innovation
The Big Picture
Here’s what Algeria aims to achieve by 2029:
- 20,000 fully operational startups
- A thriving tech and energy ecosystem
- Increased private and international investment
- Enhanced access to African and Arab markets
By removing the traditional barriers to startup funding and fostering sector-specific investment, Algeria is building a strong foundation for long-term economic growth.
What now for Algeria?
With these newly announced funds and a clear roadmap, Algeria is signaling that it’s serious about becoming a startup powerhouse in North Africa. By focusing on innovation, global partnerships, and smart funding strategies, the country is not only empowering its entrepreneurs—but also reshaping its economic future.