Latest news with #AlgeriaVenture
Zawya
7 days ago
- Business
- Zawya
Engaging Startups and Innovation at the Islamic Development Bank (IsDB) Group 2025 Annual Meetings in Algeria
The Islamic Development Bank (IsDB) Group's 2025 Annual Meetings ( reaffirmed the strategic importance of startups and youth-led innovation in driving inclusive and sustainable development. Through a series of high-impact engagements, The Islamic Development Bank Group emphasized how entrepreneurial ecosystems can address pressing global challenges while unlocking new pathways for economic transformation. 3rd IsDB Startups Innovation Pitch Competition: Catalyzing Change through Innovate Entrepreneurship Held from May 18 to 21, 2025, under the theme 'Diversifying Economies, Enriching Lives,' the 3rd IsDB Startups Innovation Pitch Competition provided a dynamic platform for emerging entrepreneurs to present innovative solutions in key sectors such as digital transformation, climate resilience, and the creative economy. The competition was preceded by a multi-day bootcamp that equipped participants with essential skills and mentorship. Notably, the event featured a strategic Innovation Lab Partnership with the Ministry of Knowledge Economy, Startups and Microenterprises in Algeria, and Algeria Venture, highlighting strong local engagement and institutional support for entrepreneurship. Innovate startups showcased their solutions to a global audience, fostering connections with investors, development partners, and policymakers. The pitch sessions not only elevated the visibility of promising ventures but also underscored the role of innovation in enhancing socio-economic resilience across IsDB member countries. Private Sector Forum: Investing in Innovation and Employment Alongside the pitch competition, the Private Sector Forum (PSF) convened key CEO's Governors stakeholders to discuss mechanisms for mobilizing private capital toward sustainable development. A central highlight was the launch of the next phase of the IsDB Group Private Sector Investment Lab, which aims to expand its membership base and scale up job creation efforts through enhanced private sectors collaboration. This initiative reflects the IsDB Group's continued commitment to bridging the financing gap for startups and SMEs while catalyzing impactful investment in high-potential sectors. Outlook: Key Focus Areas Emerging from the 2025 Annual Meetings Building on the insights and momentum from the Algeria-hosted Annual Meetings, the following areas are anticipated to shape the Bank's future direction: Startup Growth and Innovation: Continued emphasis on youth entrepreneurship as a driver of transformation, with increased support for startup ecosystems through incubation, mentorship, and financing platforms. Private Sector Engagement: A reinforced focus on enabling business environments through regulatory reforms, investment facilitation, and strategic partnerships. Climate Action and Sustainable Development: Highlighting startups advancing green technologies, clean energy, and climate-resilient solutions as vital contributors to achieving the Sustainable Development Goals (SDGs). For more information and ongoing updates on the IsDB Group's innovation and entrepreneurship programs, please visit the official websites of the: IsDB Group Annual Meetings (AM) Private Sector Forum (PSF 2025) Distributed by APO Group on behalf of Islamic Development Bank Group (IsDB Group).
Zawya
09-04-2025
- Business
- Zawya
Driving Economic Transformation: The Role of ICT in Empowering Emerging Markets
Information and Communication Technology (ICT) is revolutionizing global economic systems, offering innovative solutions that transform business models, improve efficiency, and enhance competitiveness. For countries striving to position themselves in the global economy, ICT serves as a cornerstone of sustainable growth. Within this context, the Aid for Trade Initiative for Arab States (AfTIAS) 2.0 program has emerged as a powerful driver of change, particularly in Algeria's information and digital technology (IDT) sector. AfTIAS 2.0's project in Algeria provides a blueprint for how ICT can redefine economic opportunities. Through targeted initiatives, the program is improving the competitiveness of tech startups and SMEs by addressing the unique challenges they face, from capacity-building to international market access. By prioritizing digital transformation, AfTIAS 2.0 has made significant strides in creating an entrepreneurial ecosystem. One of the program's key interventions has been enhancing the capacity of Business Support Organizations (BSOs). These organizations, including Algeria Venture and the Algerian Startup Support Fund (ASF), have benefited from tailored support to improve their ability to mentor startups, offer advisory services, and facilitate access to funding. A workshop on digitalization, for instance, equipped Trade Support Institutions (TSIs) with practical tools to develop action plans for digital transitions. These efforts have empowered institutions to provide more effective support to businesses navigating a rapidly evolving digital landscape. The impact of these initiatives is also evident at the enterprise level. AfTIAS 2.0 has provided specialized training to startups in Algeria, helping them address gaps in their business models, financial planning, and strategies for internationalization. For example, training programs in collaboration with entities like IncubMe have focused on critical areas such as data science, commercial strategy, and investor readiness. These programs go beyond theoretical learning, offering practical tools that enable startups to scale their operations and enhance their competitiveness. By facilitating participation in major international events such as GITEX and Viva Technology, AfTIAS 2.0 has opened global avenues for Algerian startups. These platforms have not only offered visibility but also enabled partnerships, investment opportunities, and valuable networking experiences. For instance, the startup Namlatic secured contracts with Algerian hotels and received significant media attention, highlighting the tangible outcomes of such exposure. The overarching theme of these efforts is clear: ICT is not merely an enabler but a driver of economic transformation. By integrating ICT into trade and business processes, AfTIAS 2.0 is unlocking opportunities for growth that extend beyond national borders. The program's focus on inclusivity, particularly its emphasis on empowering women and youth in the ICT sector, further amplifies its impact, ensuring that development is both equitable and sustainable. However, challenges remain. The need for institutional stability, greater access to digital infrastructure, and continued investment in capacity building are critical for sustaining these gains. AfTIAS 2.0's commitment to addressing these issues through diagnostic missions and ongoing support underscores its dedication to creating long-lasting impact. AfTIAS 2.0 exemplifies the transformative potential of ICT in driving economic growth and innovation. By fostering digital literacy, building institutional capacity, and facilitating global connections, the program is paving the way for a digitally empowered future. As ICT continues to shape the global economy, initiatives like AfTIAS 2.0 will play a pivotal role in ensuring that emerging markets are not just participants but leaders in this transformation. Copyright © 2022 - All materials can be used freely, indicating the origin Provided by SyndiGate Media Inc. (
