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China-Africa Trade Information Service
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China-Africa Trade Information Service
Photo by Moroccoworldnews
With a fund of MAD 200 million, the initiative, which is a follow-up to Maroc Numeric Fund I, will promote technological advances in the North African country by providing greater financial and technical assistance to technology-related start-ups.
Speaking to the press on the sidelines of Innov Invest Day, a digital entrepreneurship meeting held in Casablanca on Friday, June 29, Dounia Boumehdi, MITC’s general director, said: “We do not only support innovation in technology. We approach innovation in its broadest sense, including business mode, services, and [other types of] products. The most important is something that is in rupture [with traditional ideas].”
The initiative also envisions consolidating Morocco’s place in the digitized global market.
“We have the support and the full confidence of our partners,” Boumehdi said. She added that the success of their previous project has spurred the interest of other investors ready to accompany their actions and projects.
In addition to traditional partners, such Morocco’s Caisse Centrale de garantie (CCG ) and MITC, new investors, including BCP bank, BMCE bank, and Attijariwafa Bank are now also involved with Maroc Funds II. According to Boumehdi, Maroc Numeric Fund II will ensure sufficient funds and support for worthwhile innovative ideas and projects in a wide range of fields.
Boumehdi also said that the second phase of Maroc Numeric coincides with the final stage of Maroc Numeric I. Launched in 2010, Maroc Numeric I had a budget of MAD 100 million with an exclusive focus on funding information technology start-ups.
“We finalized the initial project in 2016 and all submitted ideas were funded,” Boumehdi declared, satisfied. She noted that, with a bigger project and more inclusive outlook, Maroc Numeric Fund II is looking forward to financing “some interesting ideas” in 2018 and 2019.
