UM6P Ventures, a venture capital fund of Morocco’s Mohammed VI Polytechnic University, announced an investment in renewable energy startup ATAREC in March 2022.
ATAREC has created Morocco’s first wave energy pilot platform.
The first round of funding from UM6P Ventures will enable ATAREC to take a decisive step forward in its development and speed its transition from proof of concept to market-ready products.
In March 2022, UM6P Ventures and Plug and Play, a global innovation platform, also announced a strategic alliance to co-launch two new agribioscience and healthtech accelerator organizations. Simply put, Plug and Play Morocco has teamed with UM6P Ventures to expand its startup acceleration program, which now includes tailored support for startups.
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Also in April 2022, the Moroccan startup WafR announced that it had raised 2.7 MDH with the help of UM6P Ventures, Plug and Play, and several other Moroccan and foreign business angels.
Finally, in April 2021, UM6P Ventures and Green Energy Park formed a cooperation with the goal of developing entrepreneurship and accelerating scientific discovery in the sectors of renewable energy and sustainable development. As a result, the two organisations pool their respective skills and capital to incubate and accelerate the growth of start-ups.
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“Two funds have been launched as part of the procedures employed by UM6P to encourage research and development and innovation. One attempts to encourage R&D, while the other aims to support technology transfer and, as a result, innovation. In terms of innovation, I would also point to the UM6P-MIT Sandbox program, which is open to other Moroccan public universities. Several Moroccan students have benefited from mentorship and coaching from American specialists as a result of the initiative. The aforementioned program’s goal is to distill the culture of innovation within the national ecosystem. UM6P has also established “StartGate,” a platform dedicated to assisting start-ups that is open to all start-ups. The latter have the option of applying to a variety of university-developed programs. The goal of developing the “StartGate” platform is to encourage young people and researchers to invest in innovation by attempting to monetize their intellectual property,” Mohammed VI Polytechnic University President Hicham El Habti.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexperts.com/view_expert/charles-rapulu-udoh