Over the past 25 years, the Kingdom of Morocco has undergone significant transformation under the leadership of King Mohammed VI. Since ascending to the throne in 1999, the King has promoted a vision of modernization and development that encompasses many aspects of Moroccan society and the economy.
In recent years, Morocco has become one of the most popular destinations for international startups. This is all thanks to the efforts the country has made over the past few years to stimulate startup growth with a focus on technology and innovation. Morocco has achieved significant growth in attracting investments for startups, with a 93% increase expected by 2023.
More than 10 public and private investment funds have been established in recent years to support startups. Last year, Morocco signed 17 financing agreements, and this number is growing every year. In StartupBlink’s Global Startup Ecosystem Report (GSER), Morocco has risen in the rankings to 34th place, indicating a significant growth in its startup ecosystem.
Emilio Corchado – Startup OLÉ
The investment director of the Digital Morocco Fund predicts that within five years, Morocco will become the third largest investor in African startups. Evidence of this is the new initiative announced last January under the name Morocco Digital 2030, which aims to accelerate Morocco’s digitalization, close the digital gap with the most technologically advanced countries and promote the growth of local industries, and then continue to attract startups and international companies to Morocco.
A phase of sustained growth during the 25-year period under the fruitful reign of Mohammed VI was realised with great success on its strategic growth axis, making it the most prosperous kingdom in North Africa, whose history parallels that of Spain in many respects.
Infrastructure development: The King has promoted iconic projects such as the Tangier Med Port Complex, the high-speed railway linking Tangier and Casablanca, and the highway network linking the country’s major cities. These projects have not only improved connectivity within the country, but also positioned Morocco as a regional logistics hub. Social and political reforms: Important reforms have been implemented, such as the modernization of family law and the advancement of women’s rights, and there has been progress in decentralizing power through a high degree of regionalization. Economic development: The King has promoted the diversification of the economy, attracting investments in sectors such as the automotive industry, aerospace, and renewable energy. The Noor solar power plant project is an example of efforts toward the energy transition. Active diplomacy: Mohammed VI has promoted a dynamic foreign policy, strengthening ties with Europe and positioning Morocco as a major player in Africa. The Sahara issue has been at the center of these diplomatic efforts. Social projects: Initiatives have been launched to reduce poverty, improve access to education and health, and promote human development in general. Cultural Promotion: The King encouraged the preservation and promotion of Morocco’s cultural heritage as well as opening up to modern influences. Regional Development: Particular emphasis was placed on the development of the southern provinces, with projects such as the new port at Dakhla and other infrastructure.
In this environment, Morocco has nurtured many start-ups that are at the forefront of the global economy and these relationships will be expanded in the context of Startup OLÉ, one of the largest entrepreneurship and innovation events in Europe and Latin America, which will be held in Salamanca from 8 to 10 October.
In this context, Emilio Corchado, CEO and founder of the international fair, will hold a series of meetings to flesh out this new “Framework Action Programme” with Morocco, which he will present at Startup OLÉ Salamanca ’24. Entry to the event will also be free for the public, who can register as participants for free at the following link: https://lc.cx/GIbXfT.
Startup OLÉ
Startup OLÉ is an initiative aimed at connecting entrepreneurs and startups/scaleups with investors, corporations, governments, media and other actors of the international ecosystem in a business-friendly environment for attracting investments, with the ultimate goal of creating wealth and jobs.
To this end, it will include forums on investment and enterprise, cybersecurity (CIBER-SHUBE), accelerators, public administration, media, universities, Ibero-America, rural innovation, hackathons, etc. It will also feature exclusive content with great speakers in roundtables and plenary sessions, a startup fair, pitch competitions, business rounds and networking activities such as cocktails and concerts, during which Salamanca will become an international entrepreneurship and investment hub. In 2023, Startup OLÉ will welcome some 2,500 event participants, more than 800 top speakers, 230 startups and more than 150 investors and companies, bringing together celebrities and entrepreneurs from 29 countries.
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