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Tunisia Innovative Startups and SMEs Project to launch on March 23

March 17, 2021

(TAP) - World Bank-funded Tunisia Innovative Startups and SMEs Project, which is supported by the German Agency for International Cooperation (GIZ), will officially launch on March 23 instead of March 16, the Deposits and Consignments Fund (French: CDC) said.

This $75 million project (205.083 million Tunisian dinars) is designed to support the Startup Tunisia programme. The latter is aimed to catalyse creation and the growth of startups and digital and innovative SMEs and boost economic and employment prospects for Tunisian youth.

Tunisia Innovative Startups and SMEs Project will mainly finance the consignments fund's subscription to the Anava Seed Fund. The fund is geared towards meeting the financial and growth-related needs of SMEs and will be financed by the German Development Bank (KfW).

It will also help ecosystem actors (notably incubators and business accelerators) improve and expand the scope of their programmes by including startups and SMEs run by women or operating in inland regions.

This last ecosystem support component dubbed 'Flywheel' is co-funded by the WB and GIZ Tunisia and implemented on behalf of Germany's Federal Ministry for Economic Cooperation and Development.

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