An EIB seed accelerator program for Tunisia entrepreneurs aims to create jobs and help start-ups get ahead. Despite the name, a seed accelerator has nothing to do with farming and everything to do with helping new businesses grow.
Mondher Khanfir, a French engineer and venture capitalist, runs a seed accelerator firm in his homeland Tunisia. Such firms provide entrepreneurs with investment—typically pre-seed and seed funding that comes at an early stage, as well as training and in some cases open-lab office space—to help them create companies, innovate and expand.
It’s an important role, because the start-up process is complicated and daunting for young companies in the Mediterranean and North Africa. “There is an incredibly big lack of information about economic activities in Tunisia, but also in the whole MENA region and all across Africa,” Khanfir says. “Founders need to be smart, flexible, passionate and able to bear pain.”