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African ministers gathered at the African Start-up Conference unanimously adopted the Algiers Declaration, a strategic document containing nine commitments to transform the African start-up ecosystem. This declaration sets out a roadmap to stimulate innovation, strengthen access to finance and promote the expansion of young companies at the regional and global level.
The commitments relate in particular to:
-support for the internationalisation of African start-ups and their integration into continental markets;
-improving access to venture capital by mobilising foreign and domestic private investment;
-the global promotion of African innovations to change the image of the continent;
-the development of local skills, the promotion of the diaspora and the creation of a talent pool;
-the establishment of a monitoring mechanism, including an annual report on the sector's progress;
-the integration of start-ups into regional and global value chains;
-strengthening the role of incubators and support structures;
-facilitating the mobility of entrepreneurs and South-South cooperation in order to share resources and experiences.
The conference also highlighted Algeria's leadership, which has been organising the event since 2022 and has developed a legal and fiscal framework conducive to innovation. It already has more than 13,000 recognised start-ups, with 20,000 by 2029. The ministers praised the role of President Tebboune, particularly for his initiative to create a continental start-up financing fund, designed to structure African venture capital and support the growth of innovative companies.