Ivorian startups want to attract more funding for their growth with a total of $33 million raised in 2022. To do this, the government has decided to support them in this regard through the “Start-up Boost Capital” program.

Through the Minister for Youth Promotion, Professional Integration and Civic Service, Mamadou Touré, the Ivorian government launched “Start-up Boost Capital” on Tuesday, January 24. This initiative to finance local startups has an initial envelope of one billion FCFA ($1.6 million).

In reality, companies generating revenue for at least two years, or those created by entrepreneurs with at least three years of expertise in a tech project are the only ones eligible for the project. According to Mamadou Touré, in order to sort the projects presented, “a selection committee will be set up to periodically analyze the relevance of the projects.” According to him, more than 2,847 digital project developers have been supported by the Ivorian State, for more than 577 million FCFA between 2020 and 2022.