FSVC’s program “Djazairup” is funded by the U.S. Department of State’s Bureau of Near Eastern Affairs/Assistance Coordination (NEA/AC), and implemented with FSVC’s local partner Algerian Startup Initiative (ASI). This program aims to strengthen the capacity of local startups in key areas including financial management and marketing. Djazairup also aims to improve market access for startups established in Algeria, and thus increase their turnover. ASI will build a network of about 30 startups, five incubators and venture capital (VC) investors to create an ecosystem of support for entrepreneurship.
Since April 2018, with support from the U.S. Department of State’s Middle East Partnership Initiative (MEPI), FSVC and its local partner, the Algerian Startup Initiative, have been implementing “Djazair Up”, an innovative program helping startups in Algeria move to their intermediate stage of development. There are few options currently available in Algeria to finance innovative startups therefore the program aims to help startups self-finance their expansion via increased revenue. One key area of focus has been to improve access to new domestic and international markets for the targeted startups. This will help them build their initial track records in terms of increased sales and customer acquisition, thereby creating a virtual circle of revenue-driven growth.
Support High-Growth, Innovative Entrepreneurship – FSVC has provided in-depth assistance to 27 startups operating in the Information and Communications Technology (ICT) sector or ICT-related sectors. To do so, FSVC has facilitated 136 coaching sessions between these startups and sales/marketing professionals. It has also provided 6 state-of-the-art trainings and 83 one-on-one consultations in digital marketing, sales management and customer acquisition strategies, among other topics.
Strengthen the Capacity of Business Incubators to Provide Effective Services to Startups – FSVC has also worked with local business incubators to improve their ability to provide meaningful services to local entrepreneurs. Specifically, FSVC has helped these incubators strengthen their sourcing and selection procedures of entrepreneurs, adopt effective internal training and management tools, and provide effective training and capacity-building services to entrepreneurs.
- Enrolled startups have created 33 new jobs so far, acquired more than 180 new customers on the Business-to-Business segment and more than 7,000 on the Business-to-Customer one;
- Among enrolled startups, 5 have received funding totaling US$104,179 and 11 were able to increase their revenue basis by at least 30%; and
- The program has reached 32 staff representing 9 business incubators, 4 of which benefited from in-depth support and capacity-building activities to yield investor-ready entrepreneurs.