The Startup and Fundraising Environment in Morocco:
Morocco's startup ecosystem is rapidly growing and has a number of success stories in various industries such as e-commerce, fintech, renewable energy, and agtech.
Key Figures:
- The number of startups in Morocco has increased by more than 50% in the last five years.
- The country's startup ecosystem has attracted around $100 million in investment in the past two years.
- The Moroccan government has launched several initiatives aimed at supporting the growth of the startup ecosystem in the country, including tax incentives and grants.
Growing Industries:
- E-commerce: The Moroccan e-commerce market is expected to reach $2 billion by 2023. Key players include Jumia Morocco, Marjane and Mall.ma.
- Fintech: The fintech industry in Morocco has seen significant growth in recent years, with startups offering services such as mobile payments, online lending, and digital wallets. Some popular fintech startups include PayDunya and Wafacash.
- Renewable Energy: Morocco is home to a growing renewable energy sector, with startups such as SmarTeR and Sunraven leading the way in solar energy solutions.
- Agtech: The agtech sector in Morocco is also growing, with startups such as Safta and M3oute offering solutions for farmers and the food industry.
Active Business Angels and VCs:
Some of the most active business angels and venture capital firms in Morocco include Maroc Numeric Fund, CASA Ventures, and AfricInvest.
Government Initiatives:
The Moroccan government has launched several initiatives aimed at supporting the growth of the startup ecosystem in the country. These include:
- Maroc Numeric Fund: A government-backed venture capital fund aimed at investing in technology startups in Morocco.
- StartUp Maroc: A government program aimed at promoting entrepreneurship and supporting startups in Morocco.
- Tax Incentives: The Moroccan government has introduced tax incentives for companies that invest in startups, with the aim of encouraging more investment in the ecosystem.