In an effort to bolster tech startups, the Ivorian government has recently introduced the Startup Act, a novel framework tailored to facilitate the growth of promising young companies, a senior government official has revealed.
Cote-d'Ivoire (Ivory Coast) 🇨🇮 is the latest African country to launch a Startup Act framework to support startups in the country.
Other African countries with a startup Act include:
* Tunisia
* Senegal
* Ghana
* Mali
* Rwanda
* DRC
* Kenya
* Nigeria pic.twitter.com/9Ywb4UKVzy— BitKE (@BitcoinKE) April 7, 2023
The new framework aims to provide increased visibility and recognition to emerging startups in the country and is part of Côte d’Ivoire’s comprehensive development plan which prioritizes technological innovation as a key driver for progress with Tunisia as one of the bench-markers on the continent.
“A meeting with our Tunisian counterparts during a benchmarking study at the end of 2022 accelerated the process,” said Florence Tahiri Fadika, technical advisor in charge of innovation and change at the country’s Ministry of Communication and the Digital Economy.
“Tunisia is one of the first countries in Africa to have implemented a Startup Act. Their model is inspiring because it is very operational. The bench-marking mission, organised by the NTFV project, enabled us to benefit from Tunisia’s experience and to identify good practices.”
The Startup Act will offer qualified businesses access to advanced infrastructure and other resources to aid them in achieving success both domestically and globally, reports indicate.
The Startup Act has also set up a committee of experts and enthusiasts to encourage and acknowledge excellence in the field, with an annual award given to deserving startups. Recipients of the award will have access to new prospects in areas such as training, financing, promotion, and access to public contracts and international markets.
Fadika holds a positive outlook on the future of Côte d’Ivoire’s technology sector and is confident that the new framework, coupled with the proposed construction of technology parks and startup campuses, will establish the country as a center for innovation and entrepreneurship.
“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 initial startup law was introduced in Italy in 2012 making it the first such legislation worldwide. Tunisia and Senegal were the first African nations to adopt similar laws, followed by other countries such as Ghana, Mali, Ivory Coast, Rwanda, the Democratic Republic of Congo (DRC), and Kenya, all of which are at various stages of the enactment process.
The Nigeria Startup Act was signed into law in October 2022, marking the most recent adoption in Africa.
Although awaiting parliamentary approval, efforts are already underway to put Côte d’Ivoire’s Startup Act into practice. The government aims for the new framework to invigorate the country’s startup industry and cultivate an environment of innovation and entrepreneurship.
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