Morocco has launched the Startup Catalytic Fund, a $37M government-backed initiative designed to support innovation and growth in the country’s digital technology sector.
The fund became effective following the publication of Decree No. 2.26.576. It will be managed by Tamwilcom in collaboration with the Ministry of Digital Transition and Administration, and in partnership with the Mohammed VI Investment Fund and CDG Group.
According to the announcement, nine investment management firms have already applied to participate in the initiative. Their involvement is expected to help channel new capital into Moroccan technology startups.
The fund plans to invest around MAD347M, equivalent to about $37M, in venture capital funds focused on Moroccan tech startups over three years.
The government also expects the initiative to attract additional private investment. The fund and its selected partners could mobilise approximately MAD2.5B, or $268M, to support Morocco’s venture capital ecosystem over the longer term.
Source: Jawlah
