Economy (2)
The Algerian Confederation of Citizen Employers (CAPC) has launched a support program for innovative projects, based on applied knowledge and creativity, called “Innovate Algeria”.
“Innovate Algeria is a catalyst program for the knowledge-based economy. It aims at the development of entrepreneurial projects that are based on applied knowledge, creative development and autonomy in the design and engineering of new products and services “, the president of the Startups commission at the CAPC, Mr. Bezzitouni Chams-Eddine said. “Through this program, investors under CAPC, but also all interested investors, will embark on venture capital to encourage startups, which are companies generally not eligible for bank loans.”
president of the Startups commission at the CAPC, Mr. Bezzitouni Chams-Eddine
Here Is What You Need To Know
The new initiative of the employers’ confederation will offer promoters of innovative projects support ranging from training to opportunities for fundraising and internationalization, including strategic advice and business development.
The president of the CAPC, Mohamed Sami Agli, noted that the “Innovate Algeria” program included, as a first action, the support of the winners of HackAlgeria.
Thus, winners of HackAlgeria will be able, thanks to this initiative, to promote their projects during important meetings dedicated to innovation such as the Emerging-Valley, in December 2020 and VivaTech during the year 2021, but also at MIT.
These winners will also join, at the beginning of October, the “Innovate Algeria” program, which will support them, until the end of Aprill, 2021 in the realization of their projects, after the end of the fundraising operations, which would start in May. 2021.
source: afrikanheroes
|
Economy of Algeria Algeria’s economy is based mainly on oil and gas, it has the eighth-largest reserves of natural gas in the world and is the fourth-largest gas exporter; it ranks 18th in oil reserves. The hydrocarbon sector represents about 40–45 percent of total GDP and about two-thirds of budget revenues. Oil and gas resources account for 98 percent of the country’s exports and 70 percent of tax revenues. The chief challenges that Algeria faces in the short and medium terms are the need to diversify the economy, strengthen political and economic reform, improve the business climate, reduce regional inequalities and create jobs. Structural reform within the economy, such as development of the banking sector and the construction of infrastructure, moves ahead slowly. According to the World Bank indicator for ease of doing business in 2015, Algeria is ranked 154 out of 183 economies.
Essential Information Area: 2,381,741 sq km DEMOGRAPHY 39,5 (Million 2015 est.) (source: IMF) 0-14 years: 28.4% (male 5,641,148/female 5,378,207)
15-24 years: 17.4% (male 3,451,069/female 3,291,166)
25-54 years: 42.8% (male 8,398,770/female 8,209,634)
55-64 years: 6.2% (male 1,230,865/female 1,186,832)
65 years and over: 5.2% (male 931,769/female 1,094,262) (2014 est.)
Source: CIA factbook. total population: 80.2%
male: 87.2%
female: 73.1% (2015 est.) (Source: CIA factbook).
Nationals from the following countries do not require a visa to travel to Algeria: WTO accession: Observer
|
|
Current local time 
