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Rabat – The European Bank for Reconstruction and Development (EBRD) launched on Tuesday, March 15, the “Star Venture” program for Moroccan startups. The program aims to discover high-potential startups and provide them with personalized support for a period of 18 months.
Star Venture invited all Moroccan startups to apply for the first round of innovative startups in Morocco before March 23 on EBRD’s website.
EBRD explains in a statement that the program relies on a “dedicated network of mentors and advisers to channel a whole range of bespoke advisory services and industry best practices to startups.”The program aims to help startups improve the efficiency of their results and grow rapidly through workshops, mentoring, and technical assistance.
Star Venture connects emerging companies to a “network of investors with a strategic interest in the early-age space,” removing some of the systemic barriers to accessing finances, explained the statement.
“Star Venture mobilises mentors to help build accelerators’ own capacity to train startups and support their growth journey. The programme lends accelerators the tools to enhance the business performance of their cohort of young companies, while benefitting the wider entrepreneurial ecosystem,” added the same source.
The program also provides mentorship to local advisers on how to work with startups in order to offer them tried and true guidance.
The EBRD will organize an event where a jury of experts will select the startups who will join a special group as a part of the intensive support program.
Start Venture has supported over 200 young companies in Tunisia, Jordan, Egypt, and the Western Balkans.
The program is currently accepting applications from Bulgaria, Moldova, Romania, and Morocco.
The Star Venture promises to extend access to finance to entrepreneurs by making the program available across more countries.
