There is a new incubator in Algeria budding tech startups should look forward to. Dubbed IncubMe, the incubator seeks innovative startups that it will provide support, advice, and multidisciplinary coaching.
IncubMe will be running from both a physical and virtual platforms to support budding entrepreneurs horn their skills. According to the incubator’s general manager Kamel Oumnia, IncubMe will be running a hybrid model; supporting startups on-site, while leveraging on the internet to transcend geographical borders and provide incubation to startups far and wide.
Oumnia says they came to the realization that there was a huge potential for incubation services in the Algerian startup scene.
“Algeria is the biggest country in Africa. There are very important business opportunities and a big lack in business knowledge. We aim to provide young entrepreneurs with the necessary skills to build a company,” said Oumnia.
“Our philosophy is based on three main axes – a private incubator for a win-win-win result, a traditional incubators with a virtual platform, and a large network in Algeria and the rest of the world.”
Startups and Students across Algeria to enlist to IncubMe Selection Sessions
The incubator is currently prepping up to run a selection session all over Algeria. The application process will be open to all African students in the country. IncubMe is eyeing to incubate between 20 and 30 startups in its first-year run.
The incubator is also working to bring corporates and local banks aboard the program, a move that will see IncubMe work with deeper pockets to efficiently fund the startups in its program. The founder believes there will be some benefits by virtue of being a pioneer in the incubation space in Algeria.
“Being the first private incubator gives us flexibility and allows us to imagine a virtuous circle where partners and contributors participate in every aspect and phase of incubation, by providing expertise and technology, sharing knowledge and networks, and supporting particularly innovative projects in their sector” said Oumnia.
“By helping young, talented entrepreneurs, they benefit from exceptional media exposure and gain strong social value. Another considerable asset for the contributors is the possibility of taking partnership shares in the capital of the company once created, which is an advantage for the contributor who is looking for investment opportunities and for startups looking for financing.”