Morocco’s Fonds Innov Invest (FII) has received a “Highly Satisfactory” rating in the World Bank’s final evaluation, the highest level in its assessment system.
The public program, operated by TAMWILCOM on behalf of the Ministry of Economy and Finance with World Bank support, has backed innovative entrepreneurship since 2017. It has supported nearly 1,000 entrepreneurs and financed more than 500 startups, mobilizing over MAD 590 million ($59 million) through grants, loans and investments.
The program also helped establish four seed and venture capital funds. These funds have invested more than MAD 500 million ($50 million) in around 40 startups, while projects supported through the program have filed more than 40 patents.
FII financing covers the startup journey from pre-seed to growth. Its Tech Start program offers grants of up to MAD 400,000 ($40,000) to companies developing prototypes or minimum viable products after proof of concept. Tech Boost provides interest-free honor loans of up to MAD 750,000 ($75,000) to startups preparing to bring products to market, with a focus on deeptech.
TAMWILCOM said the rating recognizes the program’s contribution to Morocco’s startup financing ecosystem. The institution is now expanding its support through Venture Building and Venture Capital offerings under the “Digital Morocco 2030” strategy.
Source: Morocco World News
