The Minister of Higher Education and Scientific Research, Mr. Kamel Baddari, welcomed, through his official social media account, the efforts made by the University of Algiers 3 “Ibrahim Sultan Cheibout” in supporting innovation and promoting startups through its financial investment company, following the approval by the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) of the establishment of the “University Fund for Innovation and Startups.”
In his post, the Minister stated:
“We welcome the approval by the Commission for the Organization and Supervision of Stock Exchange Operations (COSOB) of the establishment of the ‘University Fund for Innovation and Startups’, a Venture Capital Mutual Fund (FCPR), with initial assets exceeding 280 million Algerian dinars.
This fund, which will be managed by the financial investment company of the University of Algiers 3, represents a significant step toward building an integrated university and economic ecosystem, positioning the university as an active partner in financing innovation and supporting startups and promising projects led by students and researchers.
This achievement further strengthens our commitment to the ‘Empowering University’, which does not merely produce knowledge, but also works to transform it into added value, innovative projects, businesses, and opportunities for growth and wealth creation.
Moreover, integrating venture capital into the financing instruments available for innovative university projects opens up promising prospects for students, researchers, and idea and project holders. It supports the transition of innovation from the university environment to the market and investment, thereby creating a bridge between students’ ideas and sources of financing, and between investment and prospects for wealth and job creation.”