Financing more than 80 companies within the framework of the Emerging Enterprises Fund – Al-Hiwar Al-Jazairia

Oqba Hachani, Director General of the Emerging Enterprises Fund, revealed that, until the end of this year, more than 80 Algerian startups have been funded with the “Innovative Project” and “Startup” labels.
Hashani confirmed, on the sidelines of his participation in the works of the First African Conference for Emerging Enterprises, organized in Algeria under the high patronage of the President of the Republic, Mr. After this important conference, seeing funded companies turn to invest at the continental level.
He stated that the fund, which recently strengthened its financing capabilities under an agreement with the public treasury to finance state investment funds, has studied since its inception, in October 2020, a total of 350 financing requests, at a rate of studying 20 to 25 files per month.
The fund offers 3 financing possibilities according to the type of the start-up concerned, so that financing is carried out up to 5 million dinars (500 million centimes) as a maximum for the initial companies at their inception, and financing companies currently in the market with a value of up to 2 billion centimes. As for mature companies, they can be financed with a maximum of 15 billion centimeters.
So far, start-up companies have been funded across 22 states specialized in 18 fields of activity, within the framework of a purely economic approach, so that the fund does not demand benefits from these startups, but deals with them as a partner.
Hashani explained, “The fund invests in companies within the risk capital approach, and it enters with companies as a partner who bears profit and loss, so that the owner of the project does not claim interest.”
As a result, the official highlighted that the fund invests in companies whose studies prove their efficacy and confirm their capabilities in the field, so that the funds are subject to a “decision-making matrix” that includes several conditions, the most important of which is the extent to which the market responds to the characteristics of the service offered by the startup and the ability of project holders to Developing their project and the viability of the idea for growth and development in the short term, in addition to the presence of a financial profit margin for the institution.
It is noteworthy that the fund signed last August an agreement with the General Directorate of the Treasury and the accounting management of the state’s financial operations in order to exploit state investment funds for the benefit of young entrepreneurs in all states of the country, at a value of 58 billion dinars, embodying the government’s action plan.
And the President of the Republic, Abdelmadjid Tebboune, had announced in October 2020, during the first edition of the “Algeria Disrupt” demonstration, the establishment of the Algerian Fund for Financing Emerging Enterprises, to enable owners of innovative projects to establish their institutions, away from the bureaucratic obstacles of traditional financing mechanisms, by adopting the venture capital mechanism. As a new approach to financing startups.

#Financing #companies #framework #Emerging #Enterprises #Fund #AlHiwar #AlJazairia

#oussama_boulegheb #elhiwardz #elhiwar #elhiwar-en

- Advertisement -spot_img

Stay Connected


Related Articles

ترك الرد

من فضلك ادخل تعليقك
من فضلك ادخل اسمك هنا