Morocco is on the right track in terms of start-up development. The Mohammed VI Fund for Investment (FM6I), in partnership with the Caisse de dépôt et de gestion (CDG) in Rabat and the Moroccan Ministry for Digital Transition and Administrative Reform, has launched a call for expressions of interest for “the selection of management companies to create and manage funds dedicated to start-ups”.
The idea is to boost start-ups by increasing funding volumes. The management companies selected on the evening of 1 July 2024 will benefit from support in terms of innovative solutions to accelerate their fundraising on a national and international scale, according to FM6I.
Morocco or Africa’s start-up capital
The “start-up funds” will then inject the capital obtained (in pre-series A or series A, etc.) into the activities of the start-ups, according to their business models and areas of activity, in particular fintech (electronic finance platforms), agritech (intelligent agriculture) and edtech (online education applications). Morocco’s fast-growing start-up ecosystem is considered to be one of the most dynamic in North Africa. In recent years, the Cherifian kingdom has increased the number of incubators and accelerators, such as Impact Lab and Bidaya.
Moroccan cities are also renowned for hosting a number of start-up activities, including the Morocco Startup Cup in Casablanca and the Deeptech led by the Mohammed VI Polytechnic University (UM6P) in Ben Guérir. Current Moroccan start-ups include TravelSense, which specialises in ecotourism and environmentally-friendly travel. There is also SmartCity Solutions, an innovator in urban waste management and public lighting.
For more information on the call for expressions of interest, click here.
Benoit-Ivan Wansi