Rabat – Morocco’s UM6P Ventures, a venture capital firm affiliated with Mohammed VI Polytechnic University signed a partnership on March 3, with international innovation hub, Plug, and Play (PnP), to launch joint acceleration platforms for startups.
Dubbed AgroBioscience and HealthTech, the two vertical accelerator platforms aim to assist startups innovating in agro-bioscience and healthcare, irrelevant of their size, according to a UM6P Ventures press release.
Through the joint platforms, Plug and Play and UM6P Ventures will provide tailor-made solutions to startups, paving the way for exponential growth prospects, argues the statement.
UM6P Ventures and Morocco’s state-owned phosphate giant had first joined forces with the Silicon Valley-based accelerator program. Underlying the partnership is a shared goal to boost Morocco’s startup ecosystem and to enhance the country’s attractiveness as a go-to destination for regional startups.
Through the new partnership, UM6P Ventures commits to support startups’ transition from the lab to the market with technical know-how and state-of-the-art infrastructure, the statement points out.
“We are delighted to launch the joint vertical acceleration platforms in partnership with Plug and Play dedicated for deeptech,” CEO and Founder of UM6P Ventures, Yasser Biaz, said. “We can fully support startups within the Plug and Play program with Deeptech scientific know-how,” Biaz asserted.
The vertical acceleration platforms will offer startups access to a network of mentors, investors, among other advantages, the statement points out.
UM6P Ventures will equally offer startups over 40 hours in workshops, networking events, and over 150 hours of individual mentoring sessions, and access to the UM6 startup campus StartGate throughout a period of three months, explains the press release.
In addition to offering startups funding, UM6P Ventures will offer startups consulting services to help them navigate patent-related requirements.
“At Plug and Play, we vehemently defend the right to open innovation. A right much needed in today’s world. Our partner UM6P Ventures will contribute to the creation of significant opportunities for Moroccan and African startups alike,” Director of Plug and Play Morocco Aziz Hachem said.
UM6P is also present in the third Plug and Play startup accelerator program, launched yesterday in Casablanca.
Read Also: UM6P: The Intellectual Front of Morocco’s Commitment to Africa
