The fourth class of the 212 Founders accelerator program is now accepting applications. The program, which was started by CDG Invest, provides high-level support from renowned entrepreneurs and mentors, as well as funding of up to 3 million Dirhams for Seed and 10 million Dirhams for Series A.
The goal of 212 Founders is to bring world-class startups to Morocco. The program is accessible to all high-potential entrepreneurs with at least an MVP (Minimum Viable Product), whether they are seasoned entrepreneurs, experienced employees, or recent graduates looking to start their own business.
Since its introduction in September 2019, the 212 Founders program has received over 2,000 applications and supported 55 businesses in a variety of industries, including mobility, education, logistics, market-places, and SaaS (software as a service). 212Founders has invested over 40 million Dirhams in ten startups over the course of three promotions.
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The 212 Founders program is available to entrepreneurs with a startup initiative that has a relationship to Morocco (operational base in Morocco or functioning on the Moroccan market), is sector-agnostic, has scalability potential, and wants to target foreign markets from Morocco (eg MENA, Africa, Europe, etc.).
The program rewards teams with complementary profiles and the ability to complete a project in their field of expertise.
TAILOR-MADE SUPPORT AND AN ENTREPRENEUR-FRIENDLY FINANCING SUPPORT SYSTEM
Businesses chosen by 212 Founders will receive a comprehensive support and equity funding package that meets the highest international standards. For this purpose, an entrepreneur-friendly financing mechanism has been established. It is divided into two phases: a seed phase, known as Seed, at the end of which each firm can get equity financing of up to 3 million euros, subject to approval by an investment committee.
The acceleration phase, which reflects the startup’s growth phase, is followed by the dirhams.
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Each firm invested in the first phase can receive a second equity financing of up to 10 million Dirhams as part of a Series A campaign at the completion of this acceleration phase.
This program includes a mentoring structure led by seasoned entrepreneurs and industry professionals to assist selected startups.
The program’s quality has also been recognized by the Baobab Insights report, which places it among the top three seed investors in Africa for the second quarter of 2020.
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APPLICATION DEADLINE: January 15, 2022
Applications will be submitted exclusively on the website: www.212founders.ma
Applications will close on January 15, 2022. For more information, visit www.212founders.ma or on the program’s LinkedIn page.
212 Founders accelerator 212 Founders accelerator
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 write