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The revitalization of the innovation ecosystem is high on the agenda of the tunisian government and international institutions. A draft law, entitled “Startup act”, aims in particular to establish an attractive legal framework for innovative companies.

Drafted in consultation with 70 entrepreneurs and investors, this law provides new mechanisms to facilitate access to credit for small businesses. An annual envelope of €6 million will be allocated to companies in their first year of operation, as will an innovation guarantee fund of €10 million per year, to cover 30 to 50 % of investments in investment funds in start-up capital.

For its part, Europe approved in March 2017 a grant of €60 million to finance the EMORI education, mobility, research and innovation support program. It will complement the resources already available in Tunisia within the framework of its accession to the EU Horizon 2020 program for research and innovation.

These initiatives reinforce the momentum that has been set in recent months. The start-up accelerator Fat6Labs, present in four countries of the MENA region, opened a tunisian branch in 2016. Its intensive acceleration program will reach 90 start-ups until 2021. The Promotion Agence of the Industry and Innovation, a strategic member of ANIMA, is organizing the entrepreneurship exhibition startup Tunisia, which also offers funding opportunities for young companies.

All of these initiatives are expected to breathe new life into innovation in Tunisia, as the country ranks 77th out of 128 in the 2016 index of the World Innovation Index.

More information : Oxford Business Group.