The Startup Act, a framework developed to help the nation’s most brilliant entrepreneurs in attaining their objectives, has been unveiled by the Ivorian government.
With a focus on high-potential startups, Ivory Coast has prioritized technological innovation in its national development plan. The country has now announced a new legal framework, the Ivorian Startup Act, which is awaiting parliamentary approval. The news is the product of reflection that began in 2018.
Several nations, including Mali, Ghana, the Democratic Republic of the Congo (DRC), Rwanda, and Kenya, are enacting laws at various stages.
Italy passed the first specific startup law in the world in 2012, and Tunisia and Senegal were the first two African nations to adopt it.
In October, the Nigeria Startup Act became a legal document.
The process was sped up, according to Florence Tahiri Fadika, technical advisor in charge of innovation and change at the nation’s Ministry of Communication and the Digital Economy. “We met with our Tunisian counterparts during a benchmarking study at the end of 2022,” she added. One of the first nations in Africa to establish a Startup Act is Tunisia. Because it is so practical, their methodology is motivating. The NTF V project’s benchmarking objective allowed us to learn from Tunisia’s experience and spot best practices.
Startups that receive a Startup Act award will have access to new prospects in terms of training, finance, promotion, and access to government contracts and foreign markets.
The Ivorian Startup Act is motivated by a strong political will and seeks to produce tangible results, following the Tunisian example.
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