This Moroccan Investor Is Looking To Invest Over $250k In Startups From Around World
Newly launched zero-equity Moroccan Impulse Accelerator is looking to offer tech startups that pitch at its demo day a share of $250 000 in cash prizes.
Impulse Accelerator At A Glance
- The accelerator is located in El Kelaa of Sraghna, about 100km from Marrakesh, Western Morocco.
- The accelerator was launched last month by University Mohammed VI Polytechnique (UM6P) in partnership with the OCP Group and its subsidiary OCP Africa.
- The accelerator’s 12-week program was designed by global accelerator organization MassChallenge.
- The program is aimed at startups in the agritech, biotech, mining tech, materials science and nanoengineering verticals that have a proof of concept or a minimum viable product (MVP).
How To Obtain The Funding
Interested persons desirous of participating in the program can do so by applying to through the investor’s online portal.
- Applications for the accelerator program opened last week and will close on 1 October.
- Startups from around the world are eligible to enter
What The Startups Stand To Benefit
- In a statement on the Moroccan Impulse Accelerators’ website last month, UM6P successful startups stand to benefit from access to financing through a set of national and international investment funds and business angels.
- Startups that take part in the program will also have access to UM6P’s infrastructure and laboratories, study trips to Boston in the US and Lausanne, Switzerland, as well as a 430m² co-working space.
- In addition, the startups will also benefit from mentorship and coaching from OCP experts UM6P professors and doctoral students, as well as mentors of the MassChallenge network.
- Additional benefits include access to business opportunities via OCP Group, OCP Africa and UM6P networks.
OCP Group and Mohammed VI Polytechnic University will help successful companies obtain visas for the duration of the programme.
See Also: Founders Factory Africa and Netcare Are Looking For African Health-tech Startups To Invest In
Timeline Of Events
- Between now and September, the accelerator will hold an Africa roadshow during which it will hold information sessions in Ethiopia, Ivory Coast, and Nigeria.
- Thereafter startups selected to join the accelerator will be announced in November, with the accelerator set to start on 15 January.
- Impulse Accelerator will hold its US and Switzerland boot camps in March next year, with a demo day and awards ceremony set to take place in April.
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world.