Orange Morocco opened its first Orange Fab in Casablanca on Wednesday, February 22. It is the third entity of Orange Digital Center Morocco and a startup accelerator.
By launching its first Orange Fab in Morocco, the operator hopes to contribute to the positive dynamic that defines Morocco’s startup scene.
The primary goal of the new organisation will be to identify the most promising start-ups and provide them with an adequate development and management assistance programme. Hendrik Kasteel, CEO of Orange Morocco further stressed during the formal launch of the platform: “we are delighted to be a player that promotes the growth of the digital economy in the Kingdom by supporting entrepreneurial initiatives. and innovation”.
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Orange Fab Morocco has created the AGV (High Speed Accelerator) programme for startups in the FinTech (Paytech, Regtech, Cash management, Crowdfunding, Neobanking, etc.) and BlockChain (money transfers and payments, Internet of Things, Digital Identification, supply chain management, etc.) sectors for this first edition.
The goal is for these companies to be able to form commercial ties with Orange Morocco as well as larger national or international groups.
Two key investment funds will sponsor the inaugural Orange Fab Morocco marketing. Orange Ventures Africa, a subsidiary of Orange Ventures, has put aside 50 million euros for African start-ups, and the Swiss Digital Assets Institute (SDAI) has set aside 100 million euros for FinTech and BlockChain businesses. In order for the selected startups to be successful in the present economic environment, the two partners will provide financial and know-how support.
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It should be mentioned that the Orange Group provides financial assistance through its Orange Ventures investment fund, which oversees assets totaling more than 350 million euros. The goal is to promote future global champions of innovation, such as the Moroccan firm “Chari,” which just received a million dollar investment.
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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