From 2018 to 2020, with support from the U.S. Department of State, FSVC implemented a highly-innovative program entitled “Djazairup” to help promote entrepreneurship in Algeria. The program provided in-depth assistance to 27 startups operating in the Information and Communications Technology (ICT) sector or ICT-related sectors, and helped local business incubators improve the services they provide to local entrepreneurs. FSVC implemented the program with its local partner the Algerian Startup Initiative (ASI).
· To help the startups enrolled in its program grow, FSVC facilitated more than 140 coaching sessions between these startups and sales/marketing professionals. It also provided 8 state-of-the-art trainings and 83 one-on-one consultations in digital marketing, sales management and customer acquisition strategies, among other topics.
· FSVC’s work with local business incubators focused on: strengthening their sourcing and selection procedures of entrepreneurs; adopting effective internal training and management tools; and providing effective training and capacity-building services to entrepreneurs.
Program Impact
· By the end of the program, the 27 enrolled startups created 54 new jobs, acquired more than 180 new customers on the Business-to-Business segment and more than 7,000 on the Business-to-Customer segment. Among these startups, 6 received funding totaling more than US$100,000 and 21 were able to increase their revenue on a year-on-year basis.
· 75% of enrolled startups demonstrated greater knowledge and skills in financial management or marketing best practices.
· 78% of enrolled startups increased their sales or established new sales agreements.
· FSVC strengthened the capacity of 41 staff representing 12 local business incubators in yielding investor-ready entrepreneurs.
· 10 new products and services provided by targeted business incubators as a result of FSVC activities, including new training programs for their entrepreneurs.
· 5 new tools developed by targeted business incubators to organize their relationships with entrepreneurs.
· 92% of entrepreneurs surveyed that now reported a positive relationship with the targeted business incubators.