Morocco Unveils $200,000 Support Program for Industrial Startups, Aims to Boost 5,000 Projects

Important levers for the economic recovery of several countries, startups deserve to be supported in order to emerge. Thus, this category of companies has the possibility of multiplying its chances of progress thanks to the support of support mechanisms, explains L’Économiste, which announces the signing of an agreement between the Ministry of Industry, Maroc PME and the Federation of the Moroccan Startup Ecosystem.

This agreement relates to a support program as part of the Industrial Recovery Plan, which aims, through the development of industrial entrepreneurship, to the emergence of a new generation of industrialists in Morocco. It will also be a question of developing innovative industrial and high value-added service projects. This will result in "the promotion of local manufacturing and the strengthening of the import process by national products".

Implemented by Maroc PME, this program "offers an integrated support offer from start to finish of startup projects, from the idea to industrialization, through the various incubation phases". This support is divided into three phases, specifies the newspaper, indicating that the first one of post-incubation, is based on the selection and support of their structuring. "The objective is to support 5,000 project leaders by 2023".

The second incubation phase will be used to support project leaders, in order to help them materialize. Thus, "300 project leaders will be supported over a period of 3 years", and the third stage will consist of support for industrialization through investment support for selected projects. In this sense, "30% of the material and intangible investment program, capped at 2 million dirhams, will be granted.