This first promotion of Orange Fab Morocco will be supported by two major investment funds.
Programme.
Orange Maroc launches Orange Fab du Royaume. It is the first start-up accelerator in the Kingdom and the third entity of Orange Digital Center Morocco.
A player committed to accelerating innovation and supporting entrepreneurship, Orange Morocco officially launched on Wednesday the first Orange Fab in the Kingdom, the start-up accelerator and the third entity of Orange Digital Center Morocco. The objective is to train young people in innovative technologies, to select the most promising start-ups to offer them a suitable development and managerial support program.
Thus, faithful to its CSR strategy defined by the Group, Orange Morocco identifies, supports and promotes talent for a responsible and inclusive digital society.
For more than 10 years now, the Orange Group has been setting up the Orange Prize for Social Entrepreneurs in Africa and the Middle East, an annual competition that highlights the best start-ups on the continent, by offering them financial rewards as well as great visibility in the region. Aware of the potential of African youth, the Orange Group also offers financial support from its Orange Ventures investment fund, which manages more than 350 million euros in assets with the ambition of supporting future world champions of innovation. .
For this first edition, Orange Fab Morocco has set up the AGV (High Speed Accelerator) acceleration program for start-ups operating in the FinTech sectors (Paytech, Regtech, Cash management, Crowdfunding, Neobank, etc.). ) and BlockChain (money transfers and payments, Internet of Things, digital identification, supply chain management, etc.).
The objective is to enable these entrepreneurs to build commercial partnerships with Orange Morocco as well as large national or international groups. These young companies will therefore have to meet the needs of the business units of Orange Morocco or the partners chosen for this edition and be a force of proposal for all types of innovations, whether technological, uses or even disruptive.
This first promotion of Orange Fab Morocco will therefore be supported by two major investment funds: Orange Ventures Africa, the subsidiary of Orange Ventures with a fund of 50 million euros for start-ups in the African zone, and the Swiss Digital Assets Institute (SDAI) which has allocated €100 million to start-ups operating in FinTech and BlockChain, with the ambition of empowering young entrepreneurs to adapt to digital assets and finance decentralized (DeFi). The two partners will support the selected start-ups both financially and by sharing their know-how, in order to be competitive in the current economic environment.