banking

Flywheel program awards AIR and AIR² grants to 17 Tunisian startups

November 25, 2021

TAP)- For its second session of the year, the Flywheel program operated by Startup Tunisia and its partners, the Tunisian Deposit and Consignment Office (CDC), GIZ and the World Bank has just announced the awarding of 17 grants divided between AIR and AIR².

Indeed, 11 solutions have been selected to receive AIR, the grant supporting the Proof-Of-Concept development of very early stage Startups.

AIR compensates the lack of financing opportunities and the scarcity of business angels funding at the earliest phase of their lifecycles.This instrument which amounts to 30 000 TND is composed of 60% grant and 40% refundable grant.

In addition, 6 Startups, more advanced in their development cycle, have been selected to benefit from AIR².

AIR² acts as an investment-readiness support and grants between 150 000 and 200 000 TND.

This financial instrument is mixed. It consists of 60% grant and 40% repayable grant.

AIR and AIR² are awarded following a call for application process and evaluation process by an independent and tech savvy selection committee. Next session will be opened on January 3rd, 2022.

Flywheel is a fund to support the actors of the ecosystem of Startups in Tunisia.

It supports the launch and development of Startups and Startup support structures and provides a structured solution based on financial instruments to meet their current challenges.

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