The 3rd promotion of the 212Founders program has now been launched for startups in Morocco. Initiated by CDG Invest, the investment arm of the country’s Caisse de Dépôt et de Gestion (CDG) group, the program offers high-level support delivered by renowned entrepreneurs and mentors, with funding of up to 3 million dirhams ($335k) in seed and 10 million dirhams ($1.1m) in “Series A”.
The 212Founders program aims to bring out global startups from Morocco. Whether they are established entrepreneurs, experienced employees or young graduates wishing to embark on entrepreneurship, the program is open to all high-potential entrepreneurs with at least an MVP (minimum viable product).
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Since its launch in September 2019, the program has supported 45 startups through two promotions. It favors teams with complementary profiles and capable of carrying out a project related to their area of expertise. The selected startups must also display an international ambition, while demonstrating the innovative nature of their project.
Like the first promotions, the new cohort of startups will benefit from support at every stage of the journey. Indeed, the projects selected by 212Founders will benefit from a comprehensive support and funding program that meets the highest international standards. An entrepreneur-friendly financing mechanism has been put in place for this. It comes in two phases: a seed phase, called Seed, where each startup can benefit from an envelope of up to 3 million dirhams, followed by the Series A phase, which represents the growth phase of startups.
To support selected startups, this program has provided for a mentoring system led by experienced entrepreneurs and sector experts. As a reminder, 212Founders has supported, to date, two promotions of startups operating in various sectors of activity such as mobility, education, logistics, Market-places, hotels, tourism and SaaS (software as a service).
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer
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