The World Bank Group has launched a US$75 million fund to support the Tunisian government’s “Startup Tunisia” programme.
The US$75 million Tunisia Innovative Startups and SMEs project aims to catalyse the creation and growth of digital, innovative startups and SMEs, and boost economic and employment opportunities for Tunisian youth.
The funding will be used to finance equity and quasi-equity investments in innovative startups and SMEs, as well as support for concept development, investment readiness and technology adoption.
It will also help entrepreneurship ecosystem players, such as incubators and accelerators, to enhance and expand the outreach of their programs, including to women-led startups and SMEs and those in the interior regions.
“This project represents concrete support for a new generation of entrepreneurs in post-revolution Tunisia,” said Anouar Maarouf, Tunisia’s minister of communication technologies and digital economy. “This project is a promise from the Tunisian government towards its young and innovative entrepreneurs to develop a stronger entrepreneurship ecosystem in which their ideas and businesses can thrive and grow.”