Moroccan Bank BCP Partners with HSEVEN to Boost Startup Funding and Innovation

For the promoters, this partnership opens a breach for young people with innovative ideas, throughout the national territory who, for lack of means, are unable to materialize and develop their ideas. These are projects that require an investment between 1.5 MDH and 15 MDH and which cannot claim the Intelaka program, capped at 1.2 MDH.

According to Soumia Alami Ouali Benhayoun, Deputy Managing Director in charge of SME banking, the difficulty in financing innovative projects in Morocco lies in the financial structure which is different from other projects to be financed, particularly in industry or other fields. According to the Deputy Managing Director, this is the whole challenge of this partnership which allows the bank to rely on HSEVEN’s expertise to identify eligible innovative startups for financing.

In addition to the two major structures, this new financing mechanism also benefits from the support of the Central Guarantee Fund, a partner in this project, in particular through a guarantee that can go up to 80% of the financing. It will support the companies selected and supported by HSEVEN, through the Rise-Up and DISRUPT Africa programs.

For his part, Amine Al-Hazzaz, CEO and founder of HSEVEN, his structure, through this partnership, wants to support entrepreneurs and startups that can have a systemic impact on Morocco and Africa. These are startups that would be able to reach 100 million Africans and achieve turnover of more than 100 million euros in order to create jobs.