The Ministry of Knowledge Economy, Startups and Small Enterprises announced Monday a presidential decision to double the financial value of the President's award for the best startup. Concurrently, the Ministry decided to extend the deadline for the competition, giving applicants more time to submit their entries. The new deadline for submissions is now September 10, 2026. This extension allows aspiring entrepreneurs and innovative companies additional time to refine their proposals and meet the updated criteria for the prestigious award.
Award Value Increases Detailed
The financial value of the President's award for the best scale-up enterprise has doubled, increasing from 300 million centimes to 600 million centimes. Similarly, the award for the best startup enterprise has also seen its value double, rising from 200 million centimes to 400 million centimes. For the best innovative project, the financial award has increased from 100 million centimes to 300 million centimes. These significant adjustments show the government's commitment to fostering a vibrant and competitive startup ecosystem.
These new figures represent a significant increase from previous award structures. Before this adjustment, the best scale-up enterprise received 3 million dinars, while the best startup enterprise was awarded 2 million dinars. The best innovative project previously had an award value of 1 million dinars. The changes aim to further incentivize innovation and growth within the startup ecosystem, providing more substantial recognition and financial support to top performers. The Ministry's decision reflects a strategic move to elevate the profile of the award and attract a broader range of high-potential ventures.
Competition and Judging Criteria
The President's award for the best startup is presented in three categories: best scale-up enterprise, best startup enterprise, and best innovative project, as specified by the presidential decree dated January 19. This decree meticulously outlines the framework for the award, ensuring a structured and transparent selection process. An independent jury, comprising experts in technology and innovation from both within the country and abroad, will oversee the evaluation of competitors. This diverse panel is tasked with impartially assessing the submissions based on predefined criteria.
The award is granted following an evaluation of competing companies by this jury. The jury includes a representative of the minister in charge of startups, an international expert in modern technologies, and a national expert in the same field. This composition ensures a full understanding of both global trends and local specificities in technological advancement. Additionally, the jury comprises a national or international expert in venture capital, two members from the National Committee for granting 'Startup' and 'Innovative Project' labels, and a representative from the National Institute of Industrial Property. This multi-disciplinary approach guarantees a thorough assessment of each project's innovation, market potential, and intellectual property considerations. The presidential decree outlines that the award is presented annually in a special ceremony held during Global Entrepreneurship Week in November, further noting its importance on the national calendar.
Context and Purpose
The President's award for the best startup was initially established through a presidential decree. This decree aimed to foster innovation, entrepreneurship, and the broader development of the knowledge economy within the country, alongside supporting emerging startup enterprises. The award seeks to recognize and incentivize significant contributions to these sectors. The initiative underlines a governmental focus on cultivating a dynamic environment for technological advancement and business growth. This framework supports companies and projects that demonstrate potential for economic impact and innovative solutions, thereby contributing to national economic diversification and job creation. The doubling of the award values and the extension of the deadline are expected to further amplify the award's impact and reach.