The European Bank for Reconstruction and Development (EBRD) unveiled the second cohort of its “Star Venture” initiative on Wednesday, which will support the growth of eight Moroccan startups. Funded by the European Union, Luxembourg, and Korea, the Star Venture program is designed to identify high-potential start-ups and leverage global expertise to help them grow quickly.
“Star Venture” already facilitated the development and success of five start-ups in its inaugural cohort, including “Pipip Yallah” (carpooling), “Deepecho” (artificial intelligence), and “Weego” (sustainable mobility). These start-ups have performed well due to the program’s targeted guidance and resources.
The initiative is now assisting approximately 350 early-stage enterprises worldwide in the Southern and Eastern Mediterranean (SEMED) regions, which includes Morocco, the Western Balkans, Turkey, Bulgaria, Moldova, and Romania.
Star Venture offers 18 months of personalized support to young companies, utilizing an international network of mentors, advisors, and investors. The program focuses on identifying promising entrepreneurs, improving operational efficiency, and fostering growth through workshops, mentoring, and technical assistance.
Moroccan startups can access financing in three ways, by pitching events, facilitating fundraising, and expanding. Moroccan startups interested in the Star Venture program must submit their applications via EBRD’s website by September 24, 2023.