Tunisia’s new Start-up Act, which supports fledgling technology companies, serves as an example for other African states of how to promote tech ecosystems.
According to Tech in Africa, the new law has come into effect after two years of deliberation, with legislators engaging entrepreneurs, civil society and investors. The aim of the act is to place science and technology at the centre of the country’s economic transformation rather than traditional sectors such as tourism and agriculture.
As part of its provisions, the act supports funding for start-ups; grants exemptions from corporate taxes; provides a government-sanctioned salary to founders; and helps firms file for international patents.
According to Tunisian Prime Minister Youssef Chahed, the law has ‘digitalised’ the country’s economy. He adds that it will mitigate many problems threatening North African countries, such as high rates of unemployment, low economic growth and high poverty rates.
