Angolan government said it is working on legal basis to support for startups to strengthen the institutional framework and increase the attraction of funding.
The intention was announced Tuesday by the Secretary of State for the Economy Ivan dos Santos, while speaking at the usual briefing of the Ministry of Economy and Planning (MEP).
Ivan dos Santos said the legal basis will strengthen the startups ecosystem, bring greater coverage, applicability and flexibility that ensure operation in the national and international market.
Ivan dos Santos announced plans for the creation of a legal support basis for startups , with its own operational model.
“The Government has been carrying out an exercise to create a legal basis so that startups can have their own operational model” he said.
He put the failure rate in the market at 80%, adding that this means that of the 5 startups that try to start, only one manages to have success, due to the lack of some qualification and training”.
He highlighted the launch, in May, of the new electronic certification platform, adopted by the National Institute for the Support of Micro, Small and Medium Enterprises (INAPEM), which has had more than 63 requests so far.
The startup – an English word that means “to start something new”, a new company, with a repeatable business model and an innovative idea that causes an impact on society.
In recent years, the Government has developed actions with focus on startups, having held the 2nd edition of the Angola Startup Summer, from 27 to 29 April, under the motto “Innovation and Technology as vectors for the size of startups in Angola”.
The Executive is committed to raise the country among the best environments for the creation of startups in Africa and support the presence of Angolans in the main international events.
In 2022, Angola came 97th in the Global Startup Ecosystem Index, out of a universe of 118 countries, rising 18 places compared to the previous year, and 9th in Sub-Saharan Africa
Source: Angola Press News Agency (APNA)