Islamabad: Within the framework of the African Startup Conference, which will be held in Algiers, on December 05 and 06 2022, African ministers in charge of the sectors of startups, According to the Algerian Embassy Islamabad, high-tech innovation, and entrepreneurship met to discuss and adopt the first African road-map aimed at boosting the African startup ecosystem.
In this regard, the ministerial meeting concluded with decisions that contain new mechanisms meant to establish the first high-level pan-African cooperation in the field of startups, making it a national economic priority through governmental development programs. On the other hand, emphasis was placed on coordinating activities and policies at the continental level to upgrade Africa’s position within the global ecosystem.
To concretely materialize the outcomes of the African Startup ministerial meeting, it was agreed to establish national contact points and form a permanent secretariat for the African Startup Conference, to activate and monitor the implementation of the roadmap.
Furthermore, an African Ministerial Council in charge of startups within the African Union will be created as a dialogue space for the different ministers operating in the sector.
In addition to these procedures, government-sponsored incubators or accelerators will be put in place to be a point of contact and connection between the various African start-up ecosystems, as a “soft-landing” space to enhance communication between them.
As for financing, it was decided to start working on establishing an African fund of funds “FOF” for startups, to finance innovative projects in the continent, while facilitating the movement of startups and talents through coordination with the relevant authorities of various countries; to facilitate the transfer of talents and startups across Africa.
