Moroccan Innovation Strategy misses targets
Posted on 02 November, 2015 by Mark Chatterley, reporter
Morocco misses targets established in the Moroccan Innovation Strategy launched in 2009 to support startups.
Morocco’s targets set in 2009 in the Moroccan Innovation Strategy to bolster startups within the country and promote the registering of patents have not been met.
The strategy aimed to spur the registering of 1,000 Moroccan patents and create 200 startup companies by 2014. However, last year only saw 207 patent applications filed, the same number of patent applications as in 2007, according to Econostrum.
Startups in Morocco also struggle to secure funding. The Centre Marocain de l’Innovation (Moroccan Innovation Centre) stopped funding startups last year after only investing in approximately 50 companies.
Possible funding routes include the Maroc Numeric Fund, 35% owned by the state of Morocco, that invests in innovative ICT firms, the Morocco Incubation and Spin-Off Network that supports innovation firms and the Research Institute for Solar Energy and Renewable Energies that helps firms in the renewable energy sector.
Several startups are now looking to crowdfunding to support themselves.
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