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The investment branch of Groupe “Caisse de Dépôt et de Gestion” (CDG), CDG Invest, is launching the second promotion of 212 Founders, a support and financing program aimed at developing world-class startups from Morocco.
Open to everyone, the 212 Founders program is aimed at high-potential entrepreneurs wishing to bring out world-class startups from Morocco, whether they are experienced entrepreneurs, experienced employees or young graduates wishing to become launch into entrepreneurship, the group said.
Tailor-made support
The 212 Founders program was launched in September 2019 with the aim of participating in the creation and growth of startups in Morocco. It is part of the deployment of the CDG Group’s strategy, one of the major objectives of which is the promotion of entrepreneurship and the move upmarket in the Moroccan economy.
The projects selected by 212 Founders will benefit from a comprehensive support and financing program to the best international standards. Startups will be able to benefit from an “Entrepreneur Friendly” funding mechanism, ranging from the seed phase (Seed, up to 3 million Dirhams) to the growth phase (Series A, up to 10 million Dirhams).
This program will be delivered by experienced entrepreneurs serving other entrepreneurs. It will also allow selected startups to benefit from an ecosystem of mentors who are benchmarks in entrepreneurship, sectoral experts, and corporates, in order to intervene on development issues, whether in Morocco or abroad.
As a reminder, 212 Founders supported a first promotion of 20 startups operating in various activity sectors such as mobility, education, logistics, Marketplaces, hotels, tourism, SaaS (software as a service), …. Today, after six months of incubation support, CDG Invest has granted funding of an individual amount varying between 2 and 3 million Dirhams to seven startups.
CDG Invest specifies that the program is open to entrepreneurs of all nationalities with an operational base in Morocco, without restriction of sectors.
This program favors teams with complementary profiles and capable of executing a project related to their area of expertise. Their startup must have at least one MVP (Minimum Viable Product) and must be able to quickly address the Moroccan and international market, and demonstrate the innovative nature of their project.
A call for expressions of interest was launched by CDG Invest on March 4, 2020 to identify the entrepreneurs who will integrate this second promotion of the program.
In view of the current context, the closing date for applications, initially scheduled for May 1, 2020 has been extended to May 27, 2020. In addition, all national and international events related to this call for expressions of interest remain unchanged and take place by videoconference.
To apply and more information, go to www.212founders.ma or the program’s LinkedIn page.
