Algerian authorities plan to ultimately send 450 local startups to China, South Korea, and the United States. The goal is, among other things, to boost the local tech sector.

Public startup accelerator Algeria Venture announced on Thursday that it is sending two delegations of 30 high-potential local startups to China and South Korea.

The 15-day trips aim to expose Algerian startups to leading tech hubs, foster interactions with innovation leaders, and explore potential collaborations with global companies.

Explaining the purpose of these isits, Sidali Zerrouki, CEO of Algeria Venture, said, "These visits will provide startups with a global perspective and allow them to learn from the best international practices."

The initiative is part of Algeria Venture's Algerian Startup Exchange Program (ASEP), which supports the growth of local startups. ASEP aims to connect Algerian startups with global tech companies to benefit from their expertise, resources, and opportunities.

In 2023, Chinese startups attracted $27.4 billion in funding, according to the 2023 edition of the "State Of Venture" report by CB Insights, a strategic analysis company based on AI for business intelligence. Meanwhile, South Korean startups raised $9.8 billion in 2023, according to data from the Ministry of SMEs and Startups.

Adoni Conrad Quenum