Within the framework of THE NEXT SOCIETY project, Mr Abdelmoumen Abdelmoughite, Strategy & Cooperation Manager at Central Guarantee Fund (CCG), presented the Innov Invest Fund, an initiative launched in 2017 to boost technology SMEs and innovative start-ups in Morocco.
According to Mr Abdelmoughite, SMEs are the backbone of the Moroccan economy, representing 95% of the private sector; despite this, SMEs and innovative start-ups have to face a lack of liquidity since the funding mix addressed toward them is still dominated by the bank sector which considers investing in these activities still highly risky.
To overcome this issue which hinders the thrive of innovative initiatives, the Ministry of Economy and Finance (MoEF) of Morocco and CCG promoted the establishment of the Innov Invest Fund whose main components are pre-seed, seed, early-stage and Venture Capital investments.
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Source: The International Network for SMEs - INSME
