On Thursday, September 7, 2023, Mauritania took a significant step forward by unveiling its much-anticipated Startup Act. This move was announced during a Council of Ministers meeting and signifies a commitment by President Mohamed Ould Cheikh El innovation as the cornerstone for digital advancement, entrepreneurship, and business competitiveness.
The Minister of Digital Transformation, Innovation, and Administrative Modernization, Mohamed Abdellahi Ould Louly, presented the Startup Act. His presentation gave the Council of Ministers a thorough insight into the law’s goals, its formulation process, and the expected positive ripple effects it will create in Mauritania’s budding entrepreneurial landscape.
The “Startup ACT Mauritania” bill has been meticulously crafted to facilitate the country’s inception and expansion of innovative startups and high-value SMEs. This initiative aligns with the Government’s broader vision of cultivating an environment favorable for the rise of startups.
The essence of this law is to foster startups in Mauritania rooted in creativity, state-of-the-art technology, value creation, and national and global competitiveness. The Startup ACT introduces a series of organized measures to realize these aims. These include a merit-based recognition system and incentives tailored for different digital entrepreneurship and innovation players, such as entrepreneurs, startups, support entities, and investors.
This kind of initiative isn’t new to Africa. Countries like Senegal, Tunisia, Nigeria, Algeria, and the Democratic Republic of the Congo have adopted similar measures, leading to notable economic growth. The act comprises various stipulations, including criteria for acquiring startup and support structure labels, customs and tax benefits, and other incentives to ease the foundation and expansion of startups.
Additionally, the legislation introduces mechanisms to simplify access to funding, market opportunities, and investments for startups, positioning Mauritania at the forefront of entrepreneurial innovation.