Tunisia

Tunisia

Members: Smart Capital, Caisse des Dépôts et Consignations (CDC)

#2

MENA Ecosystem in Bang for Buck

#3

MENA Ecosystem in Affordable Talent

Top 10

MENA Ecosystem in Funding
Tunisia’s startup and VC ecosystem is vibrant, backed by strong talent, progressive regulations, and attractive investment incentives, making it a strategic gateway for innovation and scalable ventures across Africa and beyond.
Nejia Gharbi
Nejia Gharbi
CEO, CDC

Highlights

Tunisia is rapidly emerging as a dynamic hub for startups and innovation in North Africa. Strategically located at the crossroads of Europe, the Middle East, and Sub-Saharan Africa, the country offers a unique gateway for entrepreneurs seeking to expand across regions. This positioning, combined with a proactive regulatory environment, is making Tunisia an increasingly attractive destination for tech-driven ventures.

One of the key pillars of this transformation is the Startup Act, a pioneering legal framework launched to support early-stage companies with streamlined procedures, financial incentives, and access to global networks. Since its launch, 1,165 startups have been awarded the Startup Act label, achieving $300 million in cumulative sales. In 2024, Tunisian startups raised $24 million through 11 funding deals.

Tunisia offers a robust VC infrastructure, with a 56% increase in the number of active investors compared to 2023 highlighting the rising international and regional interest in the ecosystem. Tunisia’s innovation ecosystem is supported by 10 active child funds that play a strategic role in early-stage financing and scaling innovative ventures. Innovatech is a $47.7 million fund bridging startups to scaleups. Tunisia ranks among the top five African countries in terms of deals involving female founders, with 27% of its startup deals linked to women-led ventures.

A growing number of public-private partnerships foster innovation and entrepreneurship, and many international organizations actively support Tunisia’s ecosystem. Among them, the World Bank plays a key role through the Innovative Startups and SMEs Project, which supports the national Startup Tunisia initiative. Executed by the CDC in partnership with Smart Capital, the project will contribute to the creation of more than 1,800 direct jobs, including 30% for women and 20% for youths aged 18 to 35.

Ecosystem by the Numbers

ECOSYSTEM VALUE

A measure of economic impact, calculated as the value of exits and startup valuations from H2 2022–2024.
(H2 2022 - 2024)
$113 M
GLOBAL AVG. $20.4 bn

NUMBER OF UNICORNS 

The number of startups that meet our definition and have been valued at more than $1 billion and have not exited.
(ACTIVE UNICORNS)
0
GLOBAL AVG. 4

SOFT. ENGINEER SALARY

Average software engineer salary informed by data from Glassdoor, Salary.com, and PayScale, as well as local sources when available.
(2024)
$10 K
GLOBAL AVG. $52 K

TIME TO EXIT

The average age at the time of exit in the ecosystem in 2020–2024.
(2020 - 2024)
9.3 YEARS
GLOBAL AVG. 11.2 years

TOTAL EARLY–STAGE FUNDING

The total seed and Series A funding in tech startups in H2 2022–2024.
(H2 2022 - 2024)
$30 M
GLOBAL AVG. $514.8 m

MEDIAN SEED ROUND

The median of seed rounds in tech startups in the ecosystem in H2 2022–2024.
(H2 2022 - 2024)
$340 K
GLOBAL AVG. $889 k

EARLY-STAGE FUNDING
GROWTH

Early-stage funding growth is based on number of seed and Series A rounds raised between 2021-20222 vs. 2023-2024 and calculated on a scale of 1 (lowest) to 10 (highest).
(2021 - 22 VS. 2023 - 24)
7
Scale of 1 (lowest) to 10 (highest)

EXIT AMOUNT

The total value of exits from the ecosystem.
(2020 - 2024)
$26 M
GLOBAL AVG. $8 bn

ECOSYSTEM VALUE GROWTH

Ecosystem Value growth (CAGR) is calculated based on companies founded in the ecosystem in H2 2020–H2 2022 vs. H2 2022–H2 2024.
(H2 2020 - H2 2022 VS H2 2022 - H2 2024)
-3%
GLOBAL AVG. -14%

MEDIAN SEED ROUND

The median of seed rounds in tech startups in the ecosystem in H2 2022–2024.
(H2 2022 - 2024)
$1.8 M
GLOBAL AVG. $889 k

TOTAL VC FUNDING

The total VC funding (seed, Series A, Series B+) in tech startups in H2 2022–2024.
(2020 - 2024)
$113 M
GLOBAL AVG. $5.2 bn

EXIT COUNT (#)

The number of exits from the ecosystem.
(2020 - 2024)
3
0
2020
1
2021
1
2022
1
2023
0
2024
GLOBAL AVG. 86

Sub-Sector Strengths

Green Economy and Climatetech
Green Economy and Climatetech

Tunisia is positioning itself as a regional clean energy hub with mega‑projects such as H2 Notos, a 200 k t/year green hydrogen project with TotalEnergies & VERBUND, and the 8 GW Sahara Green Hydrogen pipeline. A Green Hydrogen Camp planned for 2025 and the $304.5 million Italy‑Tunisia interconnector are catalyzing a wave of Greentech startups. Tunisia is rapidly transitioning to a green economy, and more funds are allocated to Green Startups and Innovative SMEs such as the Greenov’i Initiative by Exertise France in collaboration with public actors such as CITET CDC.

Healthtech and Femtech
Healthtech and Femtech

Over 30 Tunisian companies innovate in tele‑medicine, digital therapeutics, and reproductive health. Recent milestones include CureBionics securing FDA fast‑track status for 3D‑printed prosthetics. With support from the World Bank and GIZ, the Flywheel program has benefitted 527 startups and SSOs, supported 124 prototyping startups, deployed $7.9 million (including in underserved regions), and launched 19 new support programs in sub-sectors including Healthtech.

AI, GenAI & DeepTech
AI, GenAI & DeepTech

The AI Innovation Hub launched with NVIDIA in November  2024. Flagship events like AI Hack position Tunisia as a GenAI sandbox. InstaDeep’s $682 million exit ignited a wave of 120+ AI startups building Arabic LLMs, logistics optimizers, and edge‑computing chips, supported by new doctoral tracks in machine learning.

Reasons to Move Your Startup to Tunisia

Strategic Launch Pad

Tunisia is an ideal launchpad with strong trade agreements and transport connectivity supporting easy market expansion. The Startup Act offers unprecedented support for entrepreneurs — providing legal recognition, tax incentives, access to foreign currency accounts, and smoother administration. A dense network of 53 SSOs, 9 business angels, and co-investment mechanisms complement the $113.6 million ANAVA Fund of Funds, which aims to support 230 startups by 2027.

Thriving Entrepreneurial Community

With active incubators, accelerators, co-working spaces, and growing access to venture capital, the Tunisia ecosystem thrives. Founders benefit from a high quality of life, affordable living costs, and a well-educated, multilingual talent pool. This unique combination of policy, positioning, and community makes Tunisia not only attractive, but also highly competitive for founders looking to grow regionally and globally.

Affordable Talent and High Quality of Life

Tunisia boasts 10,000 new engineers each year and trilingual graduates, offering a great pool for startups to recruit top notch talent. Founders enjoy a Mediterranean lifestyle, with 3,000 hours of sunshine each year contributing to the vibrant ecosystem. A forthcoming Digital‑Nomad‑Visa will let remote teams relocate seamlessly while keeping operating costs 40 % below EU averages. The Startup Act  trims payroll costs by having the state cover employers’ CNSS social‑security contributions.

Selected Startup Organizations

Startup Genome Members

MEMBER

Smart Capital, a management company approved by the Financial Markets Council, is in charge of the implementation of Startup Tunisia’s three components: Startup Act, the law and its incentives; Startup Invest, which oversees funding; and Startup Ecosystem, which backs supporting structures such as incubators, accelerators, and startup studios. Smart Capital operates under the authority of both the Ministry of Communication Technologies and Digital Transition and the Ministry of Economy, Finance and Support for Investment.

MEMBER

Caisse des Dépôts et Consignations (CDC) is a public institution created in 2011. As the Private Equity arm of the government, it supports state policies in sustainable development goals and projects. The CDC distinguishes itself by its unique economic model, and is characterized by its mode of governance, its investment doctrine, and its risk management. It is a key player in the long-term economic and social development of Tunisia.

Key Ecosystem Players

216 Capital Fund I & II

A prominent local VC fund supporting early-stage tech startups in Tunisia and the region, with a second fund approved to scale impact.

BIF II Fund

Launched in May 2022, this fund contributes to strengthening the funding pipeline for scalable Tunisian startups.

Janngo Startup Capital Fund

An impact-oriented investment fund with a pan-African focus, supporting inclusive and tech-enabled business models.

TITAN SEED FUND (Medin VC)

Focused on seeding bold, high-growth Tunisian startups through Medin VC, with a special focus on innovation and resilience.

Go Live Fund

Launched in September 2024, this dynamic fund targets startups in their growth and market validation phases.

LoftyInc Alpha Fund I

Backed by LoftyInc Capital, this fund brings cross-border capital and expertise from across Africa and the diaspora.

Work with us

If you are interested in working with us to drive global attention to your ecosystem, please get in touch with Marina Krizman, Director of Business Development.

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