Launching the first university investment fund with risk capital to support innovation – Algerian Al-Hiwar newspaper

The head of the National Committee for Follow-up of Innovation and Business Incubators at the Ministry of Higher Education and Scientific Research, Ahmed Mir, announced the official launch of the first fund to manage investment funds with venture capital in Algeria, scheduled for tomorrow, Monday.

During his hosting on the first radio channel, Professor Mir explained that the celebration will be held at the Faculty of Information, at the initiative of the University of Algiers 3 and three subsidiary institutions affiliated with it, and in the presence of the Ministers of Higher Education and Finance. He added that the fund is the first of its kind in Algeria, as it emanates directly from the higher education sector, without relying on the public or private sectors, in a practical step to enhance the economic role of the Algerian university, in line with the program of the President of the Republic under the slogan “The university is the engine of economic development.”

The speaker pointed to the qualitative transformation that the Algerian university has witnessed since 2022 towards what is known as the “fourth generation university” or “connected university,” which is not limited to academic training and qualification of human resources, but also contributes to nourishing the national economy by supporting emerging institutions and innovative companies based on scientific research.

He added that the student is being prepared to be an entrepreneur and wealth creator, and not just a job seeker, stressing that the new fund represents a precedent at the level of Algerian and perhaps Arab and African universities, drawing inspiration from the experiences of prestigious international universities such as the University of Cambridge, Stanford University, and the University of California, which adopt innovative financing mechanisms to support emerging technological projects.