Highlights

Support for Innov Invest Fund startup ecosystem to cope with the impacts of the crisis : 09/07/2020

Support for Innov Invest Fund startup ecosystem to cope with the impacts of the crisis

In efforts to support startups ecosystem to cope with the impacts of the crisis, and following the example of other sectors of the economy, the Ministry of the Economy, Finance and Administration Reform, in partnership with the CCG, Central Guarantee Fund, has set up a new unit within the Innov Invest Fund (FII) aiming to support and back the startups ecosystem.

The new Unit "Covid-19 emergency plan" seeks to provide further support with the aim to cover the running costs of beneficiaries of FII’s interventions, and thus facilitate the restart of their activity. Moreover, the designated support structures will benefit from exceptional special support to maintain their activity in terms of technical assistance to nascent innovative projects developers.

In the same context of supporting innovation, a seed fund earmarked for innovative projects and startup developers in health sector is expected to be launched soon.

Finally, it should be recalled that the FII is a public support mechanism for start-ups, managed by the CCG, allocated an envelope of 500 MDH and aims to support the financing of innovative startups, in the form of aid, loans and investments.

Since its official launch in 2017, the FII has allowed to bring real impetus to the innovation ecosystem. About 200 projects have benefited from funding, under this framework, of a sum amounting up to 100 MDH.