Startups in Morocco - Afrikan Heroes

212Founders Program Launches For Startups In Morocco

April 10, 2021

The 3rd promotion of the 212Founders program has now been launched for startups in Morocco. Initiated by CDG Invest, the investment arm of the country’s Caisse de Dépôt et de Gestion (CDG) group, the program offers high-level support delivered by renowned entrepreneurs and mentors, with funding of up to 3 million dirhams ($335k) in seed and 10 million dirhams ($1.1m) in “Series A”.

The 212Founders program aims to bring out global startups from Morocco. Whether they are established entrepreneurs, experienced employees or young graduates wishing to embark on entrepreneurship, the program is open to all high-potential entrepreneurs with at least an MVP (minimum viable product).

Since its launch in September 2019, the program has supported 45 startups through two promotions. It favors teams with complementary profiles and capable of carrying out a project related to their area of expertise. The selected startups must also display an international ambition, while demonstrating the innovative nature of their project.

Like the first promotions, the new cohort of startups will benefit from support at every stage of the journey. Indeed, the projects selected by 212Founders will benefit from a comprehensive support and funding program that meets the highest international standards. An entrepreneur-friendly financing mechanism has been put in place for this. It comes in two phases: a seed phase, called Seed, where each startup can benefit from an envelope of up to 3 million dirhams, followed by the Series A phase, which represents the growth phase of startups.

To support selected startups, this program has provided for a mentoring system led by experienced entrepreneurs and sector experts. As a reminder, 212Founders has supported, to date, two promotions of startups operating in various sectors of activity such as mobility, education, logistics, Market-places, hotels, tourism and SaaS (software as a service).

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

212Founders Morocco 212Founders Morocco

Startups In Morocco Can Now Access Up To $1.5 million Loan Without Collateral From Accelerator HSeven

March 16, 2020

Amine Al-Hazzaz, founder and president of Hseven

Good news for startups and businesses in Morocco. Morocco’s Banque Centrale Populaire (BCP) group and the Moroccan Hseven, an accelerator of startups in Africa, have both entered into a strategic partnership with the objective is to promote innovative startups, through an offer of support and financing adapted according to their level of maturity. Eligible startups will have access to a loan of 1.5 to 15 million DH ($1.5 million) without guarantee or personal guarantee, and with a deferral before repayment of up to 36 months.

“Through this partnership, we are committed to supporting innovative projects by providing financial support that meets the constraints of project leaders, so that they can start their entrepreneurial activities in good conditions,” said Soumia Alami in a press release.

Here Is All You Need To Know

Through the partnership, the BCP makes available to startups selected and supported by Hseven a financing mechanism, including equity or bank financing depending on the level of maturity of the projects.
Funds would be offered on terms deemed advantageous in terms of deferral, pricing and guarantees.
According to Hseven, eligible startups will have access to a loan of 1.5 to 15 million DH ($1.5 million) without any guarantee or personal guarantee, with a deferral of up to 36 months.

The loans benefit from the guarantee of the Central Guarantee Fund of Morocco.
The equity offer initially offers an investment ticket from the innovation fund BCP – Upline Alternative Investments of 1.5 million DH, and secondly, a ticket ranging from 5 to 15 million DH.
In terms of support, the offer supports project leaders, particularly in their intangible investments: studies, prototypes, tests …

“By pooling their efforts and skills, Hseven and BCP provide to startups keys to success: high-level support and patient funding. The unprecedented deferral granted by BCP will give them a real breath of fresh air that will allow them to start their entrepreneurial adventures more serenely, “said Amine Al-Hazzaz, founder and president of Hseven.

Read also: This Morocco-Based Accelerator Is Looking For Startups To Invest In
Based in Casablanca, Hseven is a platform that connects startups, large groups and investors in order to build solid ecosystems and foster the emergence of African startups deemed to be world-class.

“With this new partnership, the BCP group confirms its desire to promote the entrepreneurial spirit, by creating positive competition for Moroccan startups,” said the bank, which claims 24% of the Moroccan market.