Launching the first university investment fund to support emerging enterprises – New Algeria

The Chairman of the National Innovation Follow-up Committee revealed…Business incubators At the Ministry of Higher Education and Scientific Research, Professor Ahmed Mir, announced the official launch of the first university investment fund to manage investment funds with risk capital in Algeria, this Monday, during a celebration hosted by the Faculty of Information, and on the initiative of University of Algiers 3 and three subsidiary institutions affiliated with it, in the presence of the Ministers of Higher Education and Finance, along with economic actors and social partners, led by the Algerian Economic Renewal Council.

The professor confirmed, during his stay as a guest on the “Guest of the Morning” program on the first radio channel, that this fund is the first of its kind in Algeria, as it does not emanate from an economic sector or investors from the public or private sectors, but rather comes as a direct initiative from the higher education sector, in a practical embodiment of the new economic role of the Algerian university, in line with the commitments of the President of the Republic’s program during his second and first term under the slogan “The university is the engine of economic development.”

Not far from that, the same speaker said that the Algerian university has witnessed, since 2022, a qualitative transformation towards what is known as the “fourth generation university” or “connected university,” which not only forms and prepares human resources, but also contributes to nourishing the national economy through emerging institutions and companies emerging from scientific research.

The spokesman revealed that the process of creating the fund was launched in August of last year, following the directives of the Minister of Higher Education to university institutions that had established economic branches, on the necessity of considering adopting investment funds directed to support innovation and wealth-producing projects.

The University of Algiers 3 was the first to implement this proposal, in partnership with three of its subsidiary institutions, and in coordination with the Committee for Regulating and Monitoring Stock Exchange Operations, which accompanied the project through its experts and scientific councils, before the Fund received official accreditation last Thursday.

It is expected that this fund will constitute a new strategic step towards establishing the Algerian University as a pivotal economic actor, contributing to financing innovation and promoting national development.