StartUp Morocco - Afrikan Heroes

With US$224k For Each Startup, Morocco Gets Set To Reset Its Startup Ecosystem

February 19, 2021

Morocco is going to give each of eligible startups up to $224k between now and 2023 under the recently launched “Tarwir — Startup” initiative. The announcement of the latest figure follows the recent signing of a partnership agreement between the Minister of Industry, Trade and Green and Digital Economy, the National Agency for the Promotion of Small and Medium Enterprises (Morocco SME Agency) and Federation of the Startup Ecosystem of Morocco (MSEC) for the establishment of Tarwir — Startup. “Tatwir — Startup” is part of the deployment of the country’s Industrial Recovery Plan 2021–2023 which, among other things, aims to develop innovative, industrial and high value-added service projects led by startups.

Here Is What You Need To Know

The “Tatwir — Startup” initiative, designed by Agence Maroc PME and the MSEC, will offer intensive support for startup projects ranging from idea to industrialization through the various phases of development and incubation.

Particularly, the initiative will cover the following areas:

Pre-incubation

This stage will include the selection of innovative ideas. It will assist through structuring of their ideas and will be accomplished through dedicated workshops organized by the incubators. The objective of this phase is to support 5,000 startup project leaders over a period of 3 years.

Incubation

This stage will support startups project leaders to transform their ideas into viable projects. This support will continue until the startups fully take off. The objective of this phase is to support 300 startup project leaders over a period of 3 years.

Investment

Under this phase, the partnership will ensure that it covers 30% of the tangible and intangible investment needs of the selected startups. The 30% investment is capped at 2 million dirhams ($224k)

How To Get Started

Interested startup project leaders are invited to complete the online application form available at the following address: Tatwir-Startup — Maroc PME registration form.

Charles Rapulu Udoh

Charles Rapulu Udoh is a Lagos-based lawyer who has advised startups across Africa on issues such as startup funding (Venture Capital, Debt financing, private equity, angel investing etc), taxation, strategies, etc. He also has special focus on the protection of business or brands’ intellectual property rights ( such as trademark, patent or design) across Africa and other foreign jurisdictions.
He is well versed on issues of ESG (sustainability), media and entertainment law, corporate finance and governance.
He is also an award-winning writer

Morocco’s Central Guarantee Fund (CCG) Sets Up Exceptional Additional Financing In Support Of Startups

July 28, 2020

Zineb Rharrasse, Co-Founder and CEO of StartUp Maroc

In order to assist startups in this difficult time, the Caisse Centrale de Garantie (CCG), which manages the Innov Invest fund, has set up exceptional additional financing for the benefit of startups.

“ It is a good initiative. This will allow these startups to cover some costs and also accelerate innovation. Startups are in a critical situation today like any other type of business. Startups are companies that are in the start-up phase, and in the current context, it’s really complicated, “says Zineb Rharrasse, Co-Founder and CEO of StartUp Morocco.

Zineb Rharrasse, Co-Founder and CEO of StartUp Morocco — *Zineb Rharrasse, Co-Founder and CEO of StartUp M*aroc

Here Is What You Need To Know

This exceptional device by CCG should notably benefit startups that have received financing under the Innov Invest fund and are unable to obtain bank loans.
It should be noted that startups eligible for this funding must be active and have order books, materialized by contracts concluded.
It should be noted further that this funding is in the form of an honor loan that can be distributed by support structures labeled category 2 and intended to cover, within the limit of 500,000 DH ($53k), four months of current expenses that may be justified. by the startup concerned, and will be repayable over a period of 5 years.
It should also be noted that the grant of these loans cannot exceed December 31, 2020.

Morocco, the untapped potential of a startup nation | by African ...

“Startups are already a very fragile fabric in Morocco due to lack of funding, and the pandemic has come to reinforce this fragility. Unfortunately, we are going to register a lot of startup bankruptcies as a result of this situation. So this measure by the CCG remains important, but there are still a lot of measures to put in place today to save the situation “, concludes Zineb Rharrasse.