Angola prepares law to regulate the world of Startups

Angola prepares law to regulate the world of Startups
Angola prepares law to regulate the world of Startups

Africa-Press – Angola. A law to regulate the ecosystem of startups and technology incubators in Angola is being prepared by the National Institute for Support to Micro, Small and Medium Enterprises (INAPEM), announced yesterday the Chairman of the Board of Directors, João Nkosi.

According to the manager, who was speaking at the opening of the launch of the study on the “Ecosystem of Entrepreneurship and Startups in Angola”, the country already needs to create its own legislation on Startups.

“ A group has already been created and is working to prepare the law. It is necessary to create rules about who will license and certify Startups”, underlined the manager when opening the presentation of the first study on Startups in Angola.

In turn, the administrator of INAPEM, Bráulio Augusto, on the sidelines of the event, said that, for a better positioning of the different actors of the Startups ecosystem, it is necessary to have a structure and legal framework around their performance.

“Startups demand a more specific and specialized legal framework, taking into account the nature of their activity, therefore, INAPEM will develop, in strict partnership with public and private actors, a proposal that will bring the Angolan vision of this segment with based on comparative studies”.

The vision regarding the law, according to Bráulio Augusto, is, above all, to ensure that it does not inhibit the development of Startups, but creates stimuli, incentives and a clarification on the role of each of the actors.

As for the steps for creating the law, the administrator explained that they are in an embryonic stage. “ We are consolidating the multisectoral technical group, for which several ministerial departments have already started to indicate the different members and over the course of a few months they will start a very technical, operational process, which will travel throughout the country with the aim of bringing the Angolan vision about Startups”.

Referring to the definition of Starups, he said that it is necessary to clarify, because sometimes a decontextualized framing of what a Startup is is done, and with this legal system we will have effectively defined what a Startup is, how it is constituted and its classification.

“They continue to be born and grow every day, but we want to guarantee not only their emergence but also the reinforcement of their capacity, so that they are more competitive and can expand their activities outside Angola, as is the case of some that we have followed”.

Asked about the reasons for the “death” of several Startups at birth, he said that it has a lot to do with lack of funding, but they are looking for solutions to mitigate this situation.

The study is an initiative of the National Institute of Support for Micro, Small and Medium Enterprises (INAPEM) in partnership with UNITEL and was prepared by INAPEM Consultant José Bukassa.

The survey pointed out, among other indicators, that the main threats to the survival of Startups in Angola are taxes, lack of funding and regulation.

Conducted in 2022, the survey also revealed that the main challenges for Startups in the country are based on the lack of specialized support to give them competence, product development capacity and money or liquidity.

Angola currently has a universe of more or less 2,500 Startups.

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