Rabat, Oct 30 (IANS/MAP) Morocco launched on Monday the "Innov Invest Fund", an investment offer of 700 million Dirhams to seed stage companies and innovating small and medium enterprise (SMEs) in the country.
The fund is aimed at reinforcing the equity financing offer in favour of Moroccan innovative startups with a strong growth potential.
Speaking on the occasion, Minister of Economy and Finance, Mohamed Boussaid, said that the fund will offer funding-for-equity through smart debts to 300 project holders.
The fund offers real opportunities in terms of support and funding for startups and innovative project holders, the Minister added.
Senior economist at the World Bank, Randa Akeel said the fund is aimed at boosting Morocco's venture capital market and supporting young Moroccan entrepreneurs.
She noted that the World Bank contributed by $50 million to the project.
--IANS/MAP
soni/vm
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app