Business Angels has invested 6.7 million dinars in Tunisian startups

Smart Capital, the entity responsible for the implementation of the national Startup Tunisia program, has just published the 3rd edition of its annual report. This project, supported by Innov’i – the EU4Innovation project implemented by Expertise France and financed by the European Union, prepares over more than a hundred pages a very detailed inventory of entrepreneurship and venture capital investments (venture capital or venture capital) in Tunisia.

As every year, this report, eagerly awaited by the entrepreneurial ecosystem, takes stock of the effects of the “Startup Act”, the legal component at the heart of the Startup Tunisia program, but also of its two other components, namely the “Startup Ecosystem”, intended for to support all players in the ecosystem through funding, connection and promotion mechanisms, and “Startup Invest” which aims to accelerate venture capital in Tunisia through the ANAVA Fund of Funds in particular.

Several interesting elements caught our attention in this report, which is richer, more comprehensive and more exhaustive than ever. New for this edition: Guests of international stature express themselves.

A highly anticipated document every year, the Startup Tunisia report surprises us this year with the richness of its content, but also with several exclusive statements from very prominent profiles on the local and global entrepreneurial scene.

Thus, over the 150 pages of this report, we find Karim Beguir, CEO of Instadeep, talking about the great opportunities of artificial intelligence for a country like Tunisia.

We also find Marie Thérèse Fam (Silicon Badia), Issam Smaali (Wattnow), Stephan Kuester (Startup Genome), Matsi Modise (South Africa Startup Act), Hasna Kourda (Save Your Wardrobe), Philippe Mustar (Professor at Mines ParisTech), Oscar Ramirez Munoz (Startup Commons Global), Kohei Muto (Double Feather Partners), Gilles LE COCGUEN (BPI France), Brigitte Baumann (Business Angel) and several other profiles of entrepreneurs, investors and experts.

Business Angels are increasingly active in startups

The Startup Tunisia report shows that 6.7 million dinars have been invested by this category of investors until 2021 with more than 22 investments during the year, an increase of more than 0.9 million dinars compared to 2020.

In 2021, fundraising by Business Angels was carried out by 45 individuals and 1 network, and 57% focused on startups operating in B2B (Business to Business).

The turnover of startups is growing, despite a still difficult context

According to Startup Tunisia, branded startups achieved a turnover of 120 million dinars in 2021, an increase of 67% compared to the previous year.

25% of this consolidated revenue is monopolized by e-commerce, and the Edtech, Business Software and IA sectors generate 23% with a total consolidated revenue of 24.4 million dinars.

In terms of business models, almost 42% of the turnover is achieved in B2B and Europe remains the first destination, after our local market (46%), for the sale of Tunisian innovation (with a share of 22.3%).

Fundraising that develops and becomes international

In 2021, 129 investment operations were realized for a total of 45 million dinars raised locally. If we add the fundraising carried out by Tunisian startups abroad, this figure reaches 105 million dinars.

Although these figures are still relatively timid, we can state that they are clearly developing and that foreign investors are nurturing a growing enthusiasm for the Tunisian start-up scene with 32% of foreign investors (14% European, 10% Middle Eastern, 6 % African and 2% American).

The international founders: A major axis of development for Tunisia

Every year, in its annual report, Startup Tunisia tracks the share of foreign founders of startups in Tunisia. Despite a difficult local context, the startup ecosystem has succeeded in attracting more international startups.

Thus, through this report, we observe that 33 startups are founded or co-founded by foreigners, with a preponderance of European nationalities (65.5%) and founders from the MENA zone (14.5%).

Startups and support organizations: More players and certainly more resources in
the ecosystem

On the side of support for startups, we observe through this 3rd report that the ecosystem is developing and consolidating. As an example, the report points out that the Flywheel program made it possible to support more than 40 organizations in 2021 with 22 AIR grants (30 thousand dinars intended for “very early stage” start-ups), 11 AIR² grants ( between 150 and 200 thousand dinars for start-ups in the “seed-stage”) and 10 DEAL grants, envelopes of 200 thousand dinars for “Startup Support Organizations”.

Other programs and their effects are detailed in Startup Tunisia’s annual report, a sign that the momentum initiated in 2018 continues and consolidates every year.

Published on 25/10/22 09:57

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