Speaking at the opening of the National Conference of Startups, "Algeria Disrupt 2020," President Tebboune said the new funding mechanism will allow young project leaders to "avoid banks and the subsequent bureaucratic slowness, through this tool that will be distinguished by the flexibility startups need."

The Fund, to be certainly financed by the State, will remain "open to the private sector and foreign companies wishing to contribute financially," he stressed.

Organized by the deputy ministry for Knowledge Economy and Startups, the conference is attended by nearly 1000 participants, including startups, incubators, representatives of government and financial institutions, economic operators, experts, associations, universities and research centers.