EU & EBRD have joined forces to assist startups in Tunisia expand to foreign markets
The European Union (EU) and the European Bank for Reconstruction and Development (EBRD) have teamed up to strengthen the growth opportunities of startups in Tunisia through a new European export support program called Insadder.
The startup ecosystems in North Africa are getting massive support from countries in Europe. Barely a month after the German government through its GIZ Egypt office announced the launch of a $120m fund for startups.
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“Our common goal is to contribute to the prosperity and stability of Tunisia, especially in the context of the recovery from the crisis of COVID-19. We wish, with this program, in partnership with the EBRD, to do everything possible to help Tunisian SMEs to create new opportunities and to conquer new markets, in the EU or elsewhere. By focusing on companies which have never exported, or which export little, and wish to develop, we hope to help them realize, step by step, their export projects,” said Marcus Cornaro, the EU Ambassador.
“This new partnership between the EU and the EBRD will allow Tunisian SMEs to reach a new level with regard to their presence in international markets,” explains Antoine Sallé de Chou, of the EBRD. This program is based on our experience in supporting SMEs in Tunisia and will offer technical assistance specially designed to develop exports.”
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What You Need To Know About Insadder
Insadder seeks to improve the competitiveness, productivity and export capacities of Tunisian startups by helping them to grow internationally and access new markets.
The initiative aims to promote the export potential of local startups by helping them enter and compete in international markets. Insadder will have a budget of EUR 7.25 million ($8.8m) funded by the EU and implemented by the EBRD over a period of five years.
The program will support trade, create opportunities for Tunisian businesses and encourage them to export to the EU and the rest of the world.
It offers a comprehensive set of technical and financial assistance and support services. Beneficiary companies will have access to the following services for two to three years: strategic support provided by international trade specialists, focused on exports and access to new markets; multidisciplinary operational support provided by experts in strategy, organization, marketing, digital transformation, financial information and certification; specific training in exports for the staff of beneficiary companies; and co-financing of the certifications required for exports.
The EU and the EBRD have already jointly supported more than 1,400 Tunisian companies, trained 600 women business leaders and more than 400 local consultants, supported around 50 Tunisian startups and supported 10 professional associations in order to build a more prosperous Tunisia.
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