On August 7, the two countries agreed to the upcoming signing of a memorandum of understanding that will integrate funding, technology transfer and research and development.
By the end of 2020, Algeria and Italy will sign a memorandum of understanding on funding, technology transfer and research and development in the field of innovation and start-ups. Yacine El-Mahdi Oualid, the Algerian Minister Delegate to the Prime Minister in charge of the knowledge economy and start-ups, and the Italian Minister of Innovation have agreed to set up this exchange program for high level on August 7, 2020.
The agreement between the two parties was reached during a working visit by Yacine El-Mahdi Oualid. A visit that was part of the partnership for innovation and the promotion of start-ups between Algeria and Italy, the objective of which is to open up new business perspectives for Algerian start-ups on foreign markets, especially in Europe, and access to African markets for Italian investors via Algeria.
During his Italian stay, Yacine El-Mahdi Oualid discussed with the Minister of the Economy, the Minister of Innovation and the Secretary of State for Economic Cooperation the opportunities for partnership and the prospects for bilateral cooperation in the areas of innovation and start-ups. He took the opportunity to praise the various actions undertaken by the Algerian government, through its ministerial department, to promote the start-up ecosystem in Algeria.
The memorandum of understanding on financing, technology transfer and research and development in the field of innovation and start-ups, between Algeria and Italy, should be signed once all the details have been studied.
Source Ecofin Agency