Algeria: A-Venture, Schlumberger partner for technical assistance to energy startups

By : Ruben Tchounyabe

Date : vendredi, 13 mai 2022 17:55

With the open innovation framework, Algerian authorities want to boost the number of cleantech operating in the country, address various challenges and ultimately export local expertise. 

Algeria Venture (A-Venture) and  Schlumberger signed Wednesday (May 1) an open innovation framework for technical support to Algerian energy startups. 

Speaking during the signing ceremony,  the Minister of Startups Yacine El-Mahdi Oualid explained that the innovation framework would encourage more startups to enter the energy sector, which is vital for the national economy. It will also increase the number of projects and cleantech developed in the sector while helping address the energy transition challenges facing Algeria. 

Ultimately, thanks to the innovation framework, Algerian energy startups will be able to export their expertise in the North African sub-region and beyond. 

Under the open innovation framework, “international, private, state and parastatal groups will collaborate and help startups and project owners address Algeria’s future challenges in sectors like digital transformation and energy transition,” indicated Redha Kelkouli (photo, left), MD of Schlumberger North Africa.  

Startups play a key role in the improvement of access to various vital services. In Africa where businesses and households are still affected by the energy deficit, startups can offer alternative solutions. For that reason, the volume of investments they attract yearly is growing steadily. In its report  “2021 Africa Tech Venture Capital,” Partech estimated the volume of investments attracted by cleantech in 2021 at US$193 million, up by 30% year on year. 

Ruben Tchounyabe


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