Tunisia has launched “INNOVATECH,” a new initiative aimed at innovative small businesses. It’s a 125 million dinar ($43 million) investment fund aimed at funding innovative Tunisian SMEs or high-growth technologies.
The Tunisian government has given the Caisse des Depots et des Consignations (CDC), the Fund’s sponsor (ANCHOR INVESTOR), responsibility for the project’s implementation, while Smart Capital is the Fund’s manager.
Green and renewable energy, agritech, manufacturing, ICT and electronics, big data and analytics, media and electronic commerce, and all other breakthroughs that will enable a digital transformation will be prioritized by the Fund.
The fund also intends to mobilize private savings, which is made feasible by co-investment, in order to promote these key sectors. Private-sector actors will be able to refine the financing schemes of the projects that will be presented to them through co-investment.
According to a press release, the fund’s distinctiveness and value will be its ability to identify innovative SMEs with great growth potential. Furthermore, firms will be given access to technologies that will help them accelerate their development. Also, to arrange investment to assist them in expanding.
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