Ivory Coast is set to join other African countries in supporting its burgeoning startup ecosystem with the launch of its Startup Act.
Ivory Coast has announced plans to launch its Startup Act, which aims to support the country’s fast-growing startup ecosystem. The move follows similar efforts by other African countries, including Tunisia, Senegal, and Nigeria, to support and build their technology ecosystems through the enactment of startup laws.
Ivory Coast Startup Act
The country’s Startup Act aims to create a more conducive environment for startups to thrive, attract more investors, and increase the amount of funding available to them. A committee of experts and enthusiasts will grant a Startup Act award, with beneficiary startups able to access new opportunities in terms of training, financing, promotion, and access to public contracts and international markets.
Florence Tahiri Fadika, a technical advisor in charge of innovation and change at the country’s Ministry of Communication and the Digital Economy, said, ““A meeting with our Tunisian counterparts during a benchmarking study at the end of 2022 accelerated the process.” Information on the Tunisian Act can be found here.
“Their model is inspiring because it is very operational. The benchmarking mission, organised by the NTF V project, enabled us to benefit from Tunisia’s experience and to identify good practices.”
According to Fadika, a mapping study is currently underway to enable the government to precisely target the needs of the country’s startup ecosystem. Additionally, the government is developing construction projects for new technology parks and startup campuses that will provide eligible startups with state-of-the-art infrastructure and amenities to help them succeed both regionally and internationally.
The startup bill is now awaiting parliamentary approval, the final step to becoming law.
African startup acts
If approved, Ivory Coastwilljoin Tunisia (2018), Senegal (2019), and Nigeria (2022) as the only African countries to have startup acts. So far, Ivorian startups have raised over USD 77.5 million since 2015, boasting of impactful startups like Afrikrea, Julaya, and CinetPay.