Establishes Startup Albania to promote startup initiatives domestically and internationally

On 26 July 2023, the Council of Ministers adopted Decision No. 467, titled "On the Organization and Functioning of the State Agency for Support and Development of Startups and Facilitators." This decision establishes and outlines the functions of the new agency, known as Startup Albania. The agency’s main responsibilities include managing financial support initiatives for the Albanian startup ecosystem, offering a "startup one-stop-shop" service, and promoting startup initiatives domestically and internationally.

Additionally, Startup Albania is tasked with administering the 'Startup and Facilitator Register,' assisting with startup passport applications, maintaining the official online portal, providing information on Government support schemes, overseeing financial grant agreements, and collaborating with international organizations to help local startups access global markets. The agency also aims to foster cooperation among various stakeholders in the startup ecosystem, including governmental bodies, businesses, academia, and other entities, to create a favorable regulatory framework for the startup market.

• Type:

  • Promotion and facilitation (Investment facilitation )

• Industry:

  • Not industry specific

• Sources:

  • qbz.gov.al, Official Gazette of the Republic of Albania No. 112, Date. 28/07/2023, https://qbz.gov.al/eli/fz/2023/112/567f08d7-1fa0-4150-a25f-69048e5833f2;q=ORGANIZIMIN%20DHE%20FUNKSIONIMIN%20E%20AGJENCIS%C3%8B%20SHTET%C3%8BRORE%20P%C3%8BR%20MB%C3%8BSHTETJEN%20DHE%20ZHVILLIMIN%20%20%20%20E%20STARTUP-EVE%20DHE%20LEHT%C3%8BSUESVE, 28 Jul 2023
  • lexology.com, On the Organization and Functioning of the State Agency for Support and Development of Startups and Facilitators, https://www.lexology.com/library/detail.aspx?g=89ec5f1d-e223-4296-bfb4-6a91b2da0d54&utm_source=Lexology+Daily+Newsfeed&utm_medium=HTML+email+-+Body+-+General+section&utm_campaign=Lexology+subscriber+daily+feed&utm_content=Lexology+Daily+Newsfeed+2023-10-23&utm_term=, 19 Oct 2023