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Rabat – The first funding committees of the Forsa program, a state-backed initiative dedicated to promoting entrepreneurship, have already inked their first agreements with business makers, the Ministry of Tourism, Handicrafts, and Social Economy and Solidarity said in a statement on August 22.
The next few weeks of the program will be devoted to accelerating the pace of processing applications, with the aim to finance 10,000 projects before the end of 2022, added the statement.
The processing of applications, including interviews with regional committees, “have reached an advanced stage and will be concluded in the coming weeks,” the ministry explained, noting that the last few months will be dedicated exclusively to the funding phase. During the selection phase, regional committees will identify business makers who would benefit from e-learning and incubation training.
“These steps are essential to prepare the financing file, including the business plan and the administrative procedure, which are necessary for moving to the financing stage,” said the ministry’s statement.
It further specified that more than 10,000 candidates have already signed up for “Forsa Academy,” the program’s e-learning platform.
“Of the 5070 projects that have already completed the e-learning phase, 1750 are being accompanied by experts from the incubators to prepare their funding applications,” the ministry said.
850 projects are already in the incubation phase which takes place during a period of two, it added. Project holders at this phase are divided into two groups in all regions and are receiving close support to transform their business ideas into tangible and successful business models.
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