Innov Invest Fund – Labeling of 10 new support structures
Following the Call for Expression of Interest launched last July, CCG has just completed its selection process by labeling 10 new support structures.
This second wave of labeling shall accelerate the rate of financings granted to innovative startups. In fact, these new partners will be responsible for supporting and financing, through the "Innov Idea" and "Innov Start" products, innovative projects and start-ups in the pre-seed phase. These partners are as follows:
These new structures will reinforce the network of partners consisting of 6 structures already labeled in October 2017, namely “APP Editor”, “Cluster Solaire”, “Impact Lab”, “R&D Maroc”, “Réseau Entreprendre Maroc” and “Start-up Maroc”.
Launched officially at the end of October 2017, the "Innov Invest Fund" (FII) accounts, as of today, for a network of partners operating at different levels of the financing chain providing concrete alternatives to the lack of funding affecting this category of enterprises.
Concerning the pre-seed component, the first six support structures labeled by CCG were able to finance, through their partnership with the Institution, 54 projects for a total of 11 Million Dirhams. These projects operate mainly in the NICT (30%) and Greentech (20%) sectors. Other sectors of activity are also represented, such as agribusiness and industry which mobilized over 26% of the granted financings.
As for the seed/venture capital component, four investment funds have been set up, three of which are already operating since 2018. At the end of the same year, 5 startups have been approved by the managers of these vehicles for investment tickets totaling approximately 30 Million Dirhams.
Lastly, regarding the support system for Business Angels planned as part of the Innov Invest Fund, CCG will launch, in the first quarter of 2019, the specifications for this category of investors.