Marrakech: The Innov Invest Fund (FII) has provided support to approximately 470 startups since its inception, stated Hicham Zanati Serghini, Director General of Tamwilcom. “The Innov Invest Fund, established by the Ministry of Economy and Finance through Tamwilcom with assistance from the World Bank, aims to facilitate funding access for startups and innovative project leaders. This initiative has successfully supported nearly 470 startups,” Zanati Serghini mentioned in an interview with MAP during the 3rd GITEX Africa Morocco, which continues until April 16 in Marrakech.

According to Agence Marocaine De Presse, the fund has injected substantial momentum into Morocco’s startup ecosystem by offering structured solutions to challenges faced at various stages of a startup’s lifecycle, from concept development to investor fundraising. “With Innov Invest acting as a catalyst, we’ve witnessed the involvement of both public and private institutional players in the startup sector, boosting Morocco’s image internationally,” Zanati Serghini highlighted, while referencing the national ‘Morocco Digital 2030’ strategy.

In addition to funding, Innov Invest aids startups in developing their business models through incubators and pre-acceleration frameworks, he elaborated. He noted that Morocco’s startup ecosystem has experienced significant growth, with an increasing number of startups, evolving programs, and diversified funding sources each year. “This growth has resulted in the emergence of Moroccan startups that serve as a vital driving force for the country’s dynamic startup ecosystem,” he added.

Zanati Serghini also discussed the partnership between Tamwilcom and Flat6Labs, a leading startup accelerator in the MENA region, which enhances the value of the Innov Invest Fund and Morocco’s overall market proposition. “This collaboration will enable high-quality support for Moroccan startups, coupled with appropriate financing,” he concluded.