The Regional Investment Center (CRI) of Dakhla-Oued Eddahab, located in the south of Morocco, hosted on Thursday, the launch of the “Intelaka” initiative (“Start”), an integrated support and financing program to assist entrepreneurs develop their business projects across various sectors, Morocco’s News Agency (MAP) reported.
Introduced by the Moroccan government in February 2020, the initiative provides funds, assistance, and guidance to startups that have been in operation for less than two years, and seeks to either initiate related projects or accelerate the growth of those already underway.
Saad Ismail, Head of the CRI Investor Support Division, announced that approximately 400 project developers will receive assistance through the Regional Investment Center of Dakhla-Oued in partnership with “Station A,” a business and entrepreneurship platform.
“The support will help them develop projects across a range of productive sectors, including agriculture, commerce, and industry,” he said.
The assistance process extends over 12 months and encompasses several phases, namely program diffusion, assessment of feasibility, financial assessment, drafting of banking finance applications, and project monitoring.
Redouane Agoudal, Director of the “Station A” platform, highlighted the incubator’s ability to facilitate entrepreneurs’ access to bank credits.
“Projects in urban areas are eligible for a reduced interest rate of 2%, while countryside projects are granted yet a lower rate of 1.75%,” he stated.
The support program, according to Agoudal, offers comprehensive assistance at both pre-and post-creation stages, covering business plan development, financing proposal preparation, and project launch.
At the meeting, all participants, including representatives from both the public and private sectors, agreed that fostering an entrepreneurial spirit and addressing obstacles are crucial for ensuring sustainable business operations.