In a strategic move to boost the global presence of Moroccan and African startups, 212 Founders, the investment arm of CDG Group, has pioneered an innovative program providing both guidance and financing. This initiative seeks to propel startups with international ambitions, fostering a new wave of entrepreneurial success in connection with Morocco and Africa.
Whether seasoned entrepreneurs, experienced professionals, or recent graduates venturing into entrepreneurship, the program welcomes all high-potential individuals equipped with at least a Minimum Viable Product (MVP). The eligibility criteria encompass projects that are innovative, scalable, and demonstrate a strong ambition for internationalization in Africa or the Middle East.
Key conditions for entry include having a functional MVP with observable field feedback and measurable traction, a dedicated and expert project team, and a connection to Morocco, Africa, or the Middle East. The program emphasizes a deployment vision across one or more countries in the African or MENA region, with a base or team connection to Morocco.
Financed by CDG Invest, the program operates on a non-profit basis with a clear mission to bring forth globally impactful startups tied to Morocco and Africa. Entrepreneurs engaged in the program benefit from a funding structure designed to be entrepreneur-friendly, facilitating the growth and sustainability of their ventures.
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During the incubation phase, startups can secure Seed funding ranging from €200k to €700k in exchange for a 10% to 20% equity stake. As startups progress to acceleration, 212 Founders stands ready to co-invest up to €1M during a Series A funding round, collaborating with other venture capital funds.
The program unfolds in three distinct phases:
- Project Sourcing: An annual call for projects, open to both Moroccan and French campuses, selects the most promising startups for the 212 Founders program.
- Incubation (6 months): Entrepreneurs benefit from comprehensive support in developing their startups, covering areas such as go-to-market strategy, product development, commercial strategy, and overall vision, preparing them for a Seed funding round.
- Acceleration (12 months): Focused on enabling large-scale deployment and preparing startups for a Series A funding round, this phase targets expansion in the Middle East and Africa.
The rigorous selection process involves three stages of interviews, ensuring that only the most promising and well-prepared startups progress through the program.
Historically based in Casablanca, Morocco, 212 Founders has expanded its reach to Paris, France, establishing a presence within Station F, the world’s largest startup campus. The program’s operations remain consistent, whether a startup is based in Casablanca or Paris, ensuring equal access to mentorship, support, and resources.
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For startups in the French campus, the program offers an opportunity to:
- Develop and implement an internationalization strategy towards MENA and Africa.
- Uncover the competitive and strategic advantages of Morocco, such as a pool of tech talents and development resources.
- Access a unique financing structure for Seed and Series A directly provided by 212 Founders, complemented by connections to VC partners in Africa and the Middle East.
Startups based in the Moroccan campus also stand to benefit, providing a holistic approach to fostering entrepreneurship and innovation in the region.
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