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Tamwilcom’s Innov Invest Program: 12 Incubators Secure Funding to Empower Moroccan Startups

January 9, 2024

Twelve partnering support structures have been selected for the implementation of the financing offering in the 3rd edition of the Innov Invest program.

Tamwilcom revealed on Monday the twelve Partnering Support Structures (PSS) that will play a key role in the implementation of the new generation of financing dedicated to innovative startups within the framework of the 3rd edition of the Innov Invest program initiated by the Innov Invest Fund with the support of the Ministry of Economy and Finance and the World Bank.

This selection follows a call for expressions of interest launched on June 28, 2023, and the selected PSS were designated by an independent commission composed of national and international experts. These partners will be actively involved in the early stages of the startup lifecycle, namely ideation, incubation, and pre-acceleration.

For the “Ideation” segment, Tamwilcom has selected the following structures: Enactus, Incubooster, Univers Startup & Entrepreneur, and Euromed Innovation Center (EIC). In the “Incubation” segment, the selected PSS are Cluster CE3M, Cluster EnR, Emerging Business Factory (EBF), R&D Maroc, Réseau Entreprendre Maroc (REM), and Startup Maroc. Finally, in the “Pre-acceleration” segment, Impact Lab and SB3S have been chosen.

These structures, engaged in a contractual process with Tamwilcom, will be responsible for deploying a financing offering comprising two flagship products: “Tech Start” and “Tech Boost.” “Tech Start,” designed for the “Incubation” segment, supports startups that have surpassed the Proof of Concept (POC) stage by providing a contribution of up to 400,000 DH (USD40,000), covering up to 80% of expenses related to the development of prototypes or products at the MVP (Minimum Viable Product) stage.

Regarding the “Pre-acceleration” segment, “Tech Boost” offers an honorary loan of up to 750,000 DH (USD75,000) for startups that have surpassed the MVP stage and are seeking to introduce their products to the market. This financing can cover up to 80% of the project cost, particularly for breakthrough innovations (Deep Tech).

The PSS involved in the deployment of these instruments, as well as those involved in the “Ideation” segment, will benefit from technical assistance, the extent of which will depend on their performance and achievements.

It is worth noting that the Innov Invest Fund (IIF), created by the Ministry of Economy and Finance in collaboration with Tamwilcom and with the support of the World Bank, aims to promote access to financing for startups and innovative project leaders in Morocco.

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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.

Moroccan Startups Have a New Path to Investment, Backed by the IFC

December 20, 2023

In a bid to bolster North Africa’s burgeoning tech start-up sector, the International Finance Corporation (IFC) is joining forces with Moroccan public finance institution TAMWILCOM. The partnership aims to provide advisory support to a Moroccan start-up accelerator, selected collaboratively by IFC and TAMWILCOM, fostering an environment conducive to attracting both local and international investments. This initiative is a crucial step towards addressing the stark disparity in funding, with Morocco currently capturing less than 1% of the record-breaking $5.4 billion African tech start-up investment in 2022.

The agreement, signed today, builds upon The World Bank’s earlier commitment to fund TAMWILCOM, empowering the institution to establish a financing program dedicated to supporting Morocco’s entrepreneurial ecosystem. This collaborative effort signifies a strategic move to bridge the financial and technical support gap, essential for sustaining and amplifying Morocco’s vibrant start-up scene.

Tamwilcom, having recently announced the launch of the Innov Invest Fund (F2I) in July 2023, demonstrates its steadfast commitment to nurturing innovation and supporting startups. The F2I initiative aims to financially back 800 innovative projects and startups over a five-year period, showcasing a comprehensive approach to cultivating a supportive environment.

As part of this initiative, Tamwilcom has initiated a campaign to identify and label support structures responsible for implementing a new range of financing products targeting innovative entrepreneurs. The Call for Expression of Interest (EOI), open from June 28th to July 17th, seeks to select up to twenty support structures operating in various stages, including “ideation,” “incubation,” and “pre-acceleration.” These structures are expected to present clear value propositions catering to one or more of these segments, aiming to enhance the success rate of supported startups and generate employment opportunities.

The comprehensive approach extends to the “acceleration” segment, which will be addressed subsequently through a dedicated offering. Tamwilcom’s commitment to providing a continuum of support reflects in its strategy to facilitate the growth of startups, enabling them to secure independent funding through fundraising activities.

To maximize the impact of the new offering, Tamwilcom plans to establish partnerships with key stakeholders within the ecosystem. These partnerships will be selected through a competitive process based on calls for expression of interest. Additionally, the institution intends to develop synergies with other public and private initiatives, emphasizing the importance of strong demand from startups and the diversification of their innovative strategies for the success of these endeavors.

The launch of the Innov Invest Fund marks the commencement of Tamwilcom’s strategic plan from 2023 to 2026. The institution envisions adapting its financing offering to meet the evolving needs of the ecosystem while ensuring the continuity of support for startups through appropriate guidance, accelerating the maturation of innovative projects. This collaborative effort by IFC and TAMWILCOM signifies a crucial step towards unlocking the full potential of Morocco’s dynamic start-up landscape.

Moroccan startups IFC Moroccan startups IFC

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Tamwilcom Launches New Edition of Innov Invest Fund to Support Moroccan Startups

July 10, 2023

Tamwilcom has announced the launch of the new edition of the Innov Invest Fund (F2I), signaling its continued commitment to supporting startups and fostering the innovation ecosystem. This initiative aims to provide financial backing to innovative projects and startups, with the goal of financing a total of eight hundred startups over a five-year period.

As part of this endeavor, Tamwilcom has initiated a campaign to label support structures that will be responsible for implementing a new range of financing products targeted at innovative entrepreneurs. The institution has issued a Call for Expression of Interest (EOI) starting from June 28th, which will remain open until July 17th. The objective is to select up to twenty support structures operating in various stages, including “ideation,” “incubation,” and “pre-acceleration.” These support structures are expected to present a clear value proposition that caters to one or more of these segments. The ultimate aim is to enhance the success rate of supported startups, transforming them into entities that generate value and employment opportunities.

It is worth noting that the “acceleration” segment will be addressed subsequently through a dedicated offering. This comprehensive approach reflects Tamwilcom’s commitment to providing a continuum of support to startups, facilitating their growth and enabling them to secure independent funding through fundraising activities.

In order to maximize the impact of the new offering, Tamwilcom plans to establish partnerships with key stakeholders within the ecosystem. These partnerships will be selected through a competitive process based on calls for expression of interest. Furthermore, in line with its objective of enhancing the impact of the new offering, Tamwilcom intends to develop synergies with other public and private initiatives. The success of these endeavors ultimately relies on strong demand from startups and the diversification of their innovative strategies.

The launch of this new edition of the Innov Invest Fund sets the stage for Tamwilcom’s strategic plan from 2023 to 2026. The institution envisions adapting the financing offering to meet the evolving needs of the ecosystem while ensuring the continuity of support for startups through appropriate guidance to accelerate the maturation of innovative projects.

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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