CDG Invest, through its investment arm 212 Founders, proudly announces the selection of eight innovative startups for the 7th edition of the renowned 212 Founders program. The investment committee meticulously reviewed nearly 300 applications, choosing companies operating in diverse sectors such as Fintech, DeepTech, BioTech, Afritech, and more. Notable among the selected startups are Premium Technology and Services, PCS Agri, Fungu’it, Tickie, AltBiotech, TrackLab, and Cryptr.

Nawfal Fassi Fihri, the Director of the 212 Founders program, highlighted the unique nature of this edition, emphasizing its position in supporting startups aspiring to grow in Morocco. Fihri stated, “This position reinforces our presence as a Moroccan support and investment program ready to support projects from the diaspora in Europe.” The selected startups will receive individualized mentoring, specialized training, and networking opportunities to connect with investors and partners.

Since its inception in 2019, the 212 Founders program has successfully realized 18 seed and Series A fundings, allocating a total of 97.2 million dirhams (MDH) (9.6 Million USD). Phase 1 (Seed) of the project is allocated 7 MDH, while phase 2 (Series A) is allocated 10 MDH.

In a strategic move to boost the global presence of Moroccan and African startups, 212 Founders pioneers an innovative program providing both guidance and financing. The program is open to high-potential individuals with at least a Minimum Viable Product (MVP) and emphasizes innovation, scalability, and a strong ambition for internationalization in Africa or the Middle East.

The program, financed by CDG Invest, operates on a non-profit basis with a mission to bring forth globally impactful startups tied to Morocco and Africa. During the incubation phase, startups can secure Seed funding ranging from €200k to €700k. 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 212 Founders program unfolds in three distinct phases: Project Sourcing, Incubation (6 months), and Acceleration (12 months), focusing on large-scale deployment and preparing startups for a Series A funding round.

Historically based in Casablanca, Morocco, 212 Founders has expanded its reach to Paris, France, ensuring equal access to mentorship, support, and resources for startups in both locations. The program’s operations remain consistent, promoting entrepreneurship and innovation in the region.

Startups in the program have the opportunity to develop internationalization strategies towards MENA and Africa, leveraging the strategic advantages of Morocco, such as a pool of tech talents and development resources. This holistic approach aims to foster entrepreneurship and innovation, creating a thriving ecosystem for startups in both Casablanca and Paris.

CDG Invest 212 Founders

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.