The European Bank for Reconstruction and Development (EBRD) announced on Wednesday it has launched the second cohort of its "Star Venture" program to support the growth of 8 Moroccan startups.
With financial support from the Republic of Korea, the program aims to identify high-potential start-ups and mobilize global expertise to help them develop rapidly, says the EBRD in a press release.
"Star Venture" has demonstrated its full potential by making a significant contribution to the growth and success of the five start-ups that participated in its first cohort, the same source points out, citing the example of "Pipip Yallah" specialized in car-sharing, "Deepecho" in the field of artificial intelligence applied to healthcare and "Weego", specialized in sustainable mobility, which have distinguished themselves by achieving remarkable performances thanks to the personalized 18-month coaching and resources made available to them by the program.
Currently deployed in the Southern and Eastern Mediterranean (SEMED) regions, including Morocco, as well as in the Western Balkans, Turkey, Bulgaria, Moldavia and Romania, the "Star Venture" program already supports over 350 early-stage companies worldwide.
Drawing on an international network of mentors, advisors and investors, "Star Venture" offers personalized support to young companies for 18 months to help them realize their full potential, while supporting gas pedals to strengthen the entrepreneurial ecosystem.
The primary aim of the program is to identify promising young companies, with a view to helping them improve their operational efficiency and foster rapid growth.
Source: Agency Morocaine De Presse