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Casablanca – Morocco’s government signed on Wednesday an agreement to launch its Tatwir-R&D and Innovation Program to boost the country’s growth and support innovative projects.
The program intends to support 100 qualified projects to develop and strengthen patents, covering 80% of the cost of the patent process, up to a maximum of MAD 1 million ($92,874). It also aims to provide assistance for innovation and development projects by covering up to 60% of the initiative’s cost, with a spending limit of MAD 4 million ($371,499).
Funded by Morocco’s Innovation Support Fund (ISF), this initiative is part of an agreement between the government and the National Agency for the Promotion of Small and Medium Enterprises, with an annual budget of MAD 300 million ($27.8 million), according to a government press release.
The agreement’s program focuses on two components, the statement noted. The first aspect is centered on accompanying and supporting research, development, and innovation programs of eligible enterprises within the industrial sector. While the second component deals with funding technology during its pilot phase.
The signing ceremony of the agreement of this program was attended by several high-ranking government representatives.
With Morocco’s Head of Government Aziz Akhannouch observing, the agreement was signed by Minister of Industry and Trade Ryad Mezzour and Minister Delegate to the Minister of Economy and Finance Fouzi Lekjaa.
The ceremony also featured Brahim Arjdal, Director General of the National Agency for the Promotion of Small and Medium Enterprises, and Chakib Alj, President of the General Confederation of Moroccan Enterprises.
In his speech at the convention’s signing ceremony, Akhannouch emphasized that this program provides a framework for assistance to Small and Medium-Sized Enterprises (SMEs), encouraging them to create and produce while maintaining the essential support and monitoring mechanisms.
According to the press release, the agreement’s goal is to fund research, development, and innovation initiatives offered by SMEs and emerging businesses in the industrial sector in order to boost their competitiveness and performance.
