The African Development Bank (BAD) and the Moroccan digital operator Inwi signed, Friday, a partnership agreement to support innovative start-ups in the digital sector and stimulate economic recovery, as part of the program “Souk At-Tanmia”.
In a context marked by the Covid-19 pandemic, this partnership will help start-ups developing innovative digital solutions to take advantage of new opportunities offered by the crisis and create jobs, says a statement from the African Development Bank.
Supporting entrepreneurship and innovation is at the heart of the African Development Bank’s priorities. Thanks to the synergies between these two institutions, they will be able to further strengthen their support to young entrepreneurs, which is crucial in the current context of crisis.
In the implementation of this partnership, the project leaderswill benefit from targeted training, support for the creation and development of their start-ups and funding in the form of a grant of up to 30% of the investment amount.
Inwi for its part, will participate in the selection committees of candidates, and will accompany a selection of entrepreneurs in the development of their business model as well as support the campaign to disseminate the program to start-ups.
Souk At-Tanmia is a program that mobilizes local actors, incubators and public institutions for public-private-NGO partnerships.
Launched in 2019 thanks to funding from the Dano-Arab Partnership Program (DAPP), the Souk At-Tanmia initiative provides technical and financial support to project leaders with the focus on supporting Very Small and Medium Enterprise and cooperatives operating in the three regions of Guelmim-Oued-Noun, Daraâ-Tafilet and Tangier-Tetouan-Al Hoceima.
These cooperation models aim to inspire the development of an integrated support dynamic with the deployment of regional platforms for coordination of the entrepreneurial ecosystem.