Morocco Launches Emergency Fund to Support Startups During COVID-19 Crisis

In a press release on its website, the Ministry of Economy, Finance and Administration Reform stressed that this component, launched in consultation with the Caisse Centrale de Garantie (CCG) as part of the support for this ecosystem, aims to provide additional support to cope with the current expenses of the beneficiaries of FII interventions. It also wants to facilitate the restart of their activities.

The ministry also specified that the accredited support structures will benefit from exceptional specific support to maintain their momentum in terms of technical assistance for young innovative project leaders.

For the ministry, a dedicated seed fund for project leaders and startups active in the health sector will soon be launched as part of support for innovation in health professions.

To recall, the FII is a public mechanism to support startups. It is managed by the CCG and endowed with 500 million DH. It provides interventions in the form of grants, loans and investments for innovative startups, since its official launch in 2017.