Startups: A Driving Force for Creativity, Innovation, and Economic Growth in Tunisia
Startups represent a significant driving force for creativity, innovation, and economic growth in Tunisia, with startup-labeled companies estimated to account for 10% of Tunisian businesses.
A reform is being proposed for the law governing investments, which generated the startup act. Today, it is essential to consider the financing modalities for startups under the new legislation, especially since other companies without the "emerging startup" label can offer innovative solutions, products, or services, which could diminish the advantages of startups in comparison.
As of October 2024, there were 1,133 startups, but this number is expected to rise as many more companies are eligible for this status. "It is useful to recall that the startup act was designed according to Law No. 2018-20 of April 17, 2018, to facilitate the launch and development of startups in Tunisia, but it only started being attributed in 2020," said Rim Saied, General Manager of the Smart Tunisian Technoparcs technology hub. The startup act organizes the conditions, procedures, and deadlines for granting and withdrawing the startup label, allowing startups to obtain incentives and benefits.
Incubation and support structures for startups exist at the El Ghazela Technopole, representing 50% of the hub's activities. The success of our startups shines beyond our borders, with incredible fundraising achievements on an international and continental scale. Notably, Tunisian startups raised $24 million through 11 transactions on the African market in 2024, according to the Partech Africa report.
