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Moroccan startups can access $37m in capital from government-backed fund
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Brief points
- Moroccan startups have the opportunity to access a share of US$37 million in funding after a government-backed funding mechanism reached a key stage.
- The Startup Catalytic Fund – launched by the Ministry of Digital Transition and Administration, and managed by Tamwilcom – is now active following the publication of...
- 2.26.576, which enables MAD347 million (US$37 million) to be invested over three years in VC funds backing digital startups.
Moroccan startups have the opportunity to access a share of US$37 million in funding after a government-backed funding mechanism reached a key stage.
The Startup Catalytic Fund – launched by the Ministry of Digital Transition and Administration, and managed by Tamwilcom – is now active following the publication of Decree No. 2.26.576, which enables MAD347 million (US$37 million) to be invested over three years in VC funds backing digital startups.
The fund has partnered with the Mohammed VI Investment Fund and CDG, with a further nine management companies having been shortlisted. The selected funds are expected to mobilise nearly MAD2.5 billion (US$268 million) for Moroccan startups. The goal is to use public investment as a catalyst for attracting more private capital and strengthening Morocco’s venture capital ecosystem over the long term.