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Friday, April 19, 2024 5:44 GMT
The deputy minister to the Prime Minister for Knowledge Economy and Start-ups, Yacine El Mahdi Oualid, said Wednesday that one billion dinars (US$7.2 million) are devoted to financing start-up companies. In a press conference, held on the sidelines of the opening of the regional conference on start-ups "Constantine Disrupt," the deputy minister said that "one billion dinars are devoted to finance start-up companies." This amount will be "revised upwards according to needs and requests." Yacine Oualid noted that the financing of start-ups will not follow the "traditional" approach applied in employment support schemes. This funding, he added, is included in the capital of start-ups for a period of six years. It is carried out "on a case-by-case basis" and requires the innovative company to have a label, a business plan and a statement of accounts.The deputy minister to the Prime Minister for Knowledge Economy and Start-ups, Yacine El Mahdi Oualid, said Wednesday that one billion dinars are devoted to financing start-up companies. In a press conference, held on the sidelines of the opening of the regional conference on start-ups "Constantine Disrupt," the deputy minister said that "one billion dinars are devoted to finance start-up companies." This amount will be "revised upwards according to needs and requests." Yacine Oualid noted that the financing of start-ups will not follow the "traditional" approach applied in employment support schemes. This funding, he added, is included in the capital of start-ups for a period of six years. It is carried out "on a case-by-case basis" and requires the innovative company to have a label, a business plan and a statement of accounts.