Grace Ashiru
Côte d’Ivoire has passed a new law called the Ivorian Startup Act, which is meant to help the most potential startups in the country.
It is part of the country’s plan for national growth, which puts a lot of emphasis on new technologies and startups with a lot of potential. The Startup Act is meant to give young, innovative companies in the country more weight and exposure. It is still waiting for approval from the parliament
“A meeting with our Tunisian counterparts during a benchmarking study at the end of 2022 sped up the process,” said Florence Tahiri Fadika, a technical advisor at the Ministry of Communication and the Digital Economy in charge of innovation and change.
Tunisia and Senegal were the first countries in Africa to pass a startup Act. The President signed Nigeria’s Startup Act into law in October of last year.
Several other countries, like Mali, Ghana, Ivory Coast, the Democratic Republic of the Congo (DRC), Rwanda, and Kenya, are in different steps of putting their laws into place.
This Startup Act could make it easier for venture capitalists to invest in Côte d’Ivoire. In 2021, Côte d’Ivoire had almost no deals, but in 2022, it raised $34 million in venture capital investment, which was the most ever for the country.
In Côte d’Ivoire, a mapping study is being done to determine what the environment needs, and plans are being made for new technology parks and startup campuses.
A group of experts and fans will decide who gets a Startup Act award, and the winners can take advantage of new training, funding, promotion, public contracts, and foreign markets.
