- The Startup Act is currently awaiting parliamentary approval
- The act grants establishment of a committee of experts and enthusiasts who will grant an annual award to deserving start-ups
The Ivorian government has launched its Startup Act as part of its efforts to support tech start-ups. The new framework is designed to help promising young companies to thrive in the country,
The Startup Act is designed to give greater visibility and recognition to up-and-coming start-ups in Côte d’Ivoire.
“The idea is not to copy the Tunisian legislation but to adapt it to the reality of our economy,” said Florence Tahiri Fadika, technical advisor in charge of innovation and change at the ministry of communication and the digital economy.
“A mapping study is underway and should enable us to precisely target the needs of our ecosystem.”
Fadika said the Startup Act is driven by strong political will and aims to bring about tangible results for Ivorian start-ups. Under the new framework, eligible companies will have access to state-of-the-art infrastructure and other amenities to help them succeed both regionally and internationally.
Why It Matters
To encourage and recognise excellence in the sector, the Startup Act includes the establishment of a committee of experts and enthusiasts who will grant an annual award to deserving start-ups. Beneficiaries will be able to access new opportunities in training, financing, promotion, and access to public contracts and international markets.
“With the help of the NTF V project and all the support structures of the ecosystem, we can make Côte d’Ivoire an attractive hub for start-ups from Africa and elsewhere,” she said.
The Startup Act is the result of a reflection initiated in 2018 and was accelerated by a benchmarking study with Tunisian counterparts in 2022. Tunisia was one of the first countries in Africa to introduce a Startup Act, and its experience was identified as a valuable resource for Côte d’Ivoire.
What Happens Next
Côte d’Ivoire’s Startup Act is currently awaiting parliamentary approval, but work is already underway to make it a reality. The government hopes the new framework will provide a much-needed boost to the country’s start-up sector, and help foster a culture of innovation and entrepreneurship.
Source: Venture Burn