The value of the Tunisian startup ecosystem saw a 205% growth from July 1, 2021 to December 31, 2023, compared to the previous period (July 1, 2019 – December 31, 2021), according to the Global Startup Ecosystem Report 2024 (GSER2024) published by Startup Genome and the Global Entrepreneurship Network.
”Between July 1, 2021, and December 31, 2023, the Tunisian entrepreneurial ecosystem generated a value of $241 million. This represents a 205% increase compared to the previous period,” the Caisse des Dépôts et Consignations (CDC) stated on Friday.
”This is a strong indicator of the dynamic innovation landscape in Tunisia. The ecosystem’s value is measured by the quality of exits (operations where one or more shareholders exit a company’s capital) and startup valuations.” Announced during the “London Tech Week,” the report also highlights the vitality and potential of Tunisian startups.
The AI, Big Data & Analytics, Life Sciences, and Blue Economy sectors are spotlighted for their talent density, support resources, and active startup activities.
Initiatives like the Women Call programme, Startup Act 2.0, and the new self-employed registration platform in Tunisia present compelling reasons for startups to consider Tunisia as a prime destination.
The CDC emphasised its crucial role in developing this ecosystem, alongside Smart Capital, responsible for implementing the ANAVA Fund of Funds from the Innova Tech fund. It recalled the “Startups and Innovative SMEs” project, financed by the World Bank, aimed at increasing access to funding and supporting growth through the ANAVA Fund of Funds dedicated to startups and the InnovaTech fund dedicated to innovative SMEs.
These initiatives also include ecosystem and business support to enhance entrepreneurship, project management, and capacity building.
In this regard, CDC Director-General Nejia Gharbi pointed out the importance of these initiatives in spurring innovation and economic growth in Tunisia, indicating that the financial and structural support provided by the CDC not only creates a propitious environment for local startups but also draws international investors.
By fostering a dynamic and resilient ecosystem, these initiatives encourage the creation of new job opportunities and the emergence of innovative solutions tailored to local and global challenges, she added.
The CDC’s commitment extends beyond financing. It includes mentoring programmes, training workshops, and access to an extensive network of partners and experts, she underlined.
Managing Partner at Startup Genome Stephan Kuester said that “with a 205% growth in the value of the Tunisian ecosystem, we are proud to collaborate with these entities to support local startups. Tunisia’s integration into our global network of innovators further promotes success through shared knowledge and best practices.”
Tunisia stands out in several regional rankings within the Middle East and North Africa (MENA) zone, positioning itself as a key player in the startup ecosystem, such as MENA Ecosystem in Affordable Talent, which measures the ability to recruit tech talent at competitive costs, and the Top 10 MENA Ecosystem in Funding, which assesses innovation through early-stage funding and investor activity.
The rankings also include Top 15 MENA Ecosystem in Talent & Experience, Top 15 MENA Ecosystem in Bang for Buck, Top 15 MENA Ecosystem in Performance, and Top 20 MENA Ecosystem in Knowledge.
The Global Startup Ecosystem Report 2024 draws on global experience, the largest AI-created startup dataset, and proprietary instruments developed over more than a decade of research across more than 55 countries. It offers in-depth insights and recommendations to public and private leaders on fostering thriving startup communities, which are essential drivers of job creation and economic growth.
The 2024 Global Startup Ecosystem Report (GSER) analyses data from over 4.5 million companies across more than 300 entrepreneurial innovation ecosystems. It provides updated, in-depth information on global startup trends and ranks the top 40 global ecosystems, and emerging ecosystems, with a regional ranking.
