An international non profit organisation, Mass Challenge and University Mohammed VI Polytechnique (UM6P) in Ben Guerir, Morocco, launched its ‘Impulse Accelerator Programme, to support start-ups in Nigeria and the rest of Africa, DANIEL ESSIET reports.
With more than 75 per cent of its people under the age of 35, Nigeria and the rest of Africa can boast of one of the world’s youngest populations. However, the number of startup companies founded by young Nigerians and the rest of Africa is still low compared with that of Europe. This has been a source of concern to analysts. To them, giving the youth opportunities to build new businesses will reduce the number of irregular migration to Europe.
Consequently, there are concerned efforts to see more African youths start or run new businesses. These include a series of initiatives designed to promote entrepreneurship and incubate start-ups.
To this end, the University Mohammed VI Polytechnic (UM6P) in Ben Guerir, Morocco, in collaboration with a United States (US)-based not for profit organisation, Mass Challenge, has launched its ‘Impulse Accelerator Programme, to support startups in Nigeria and the rest of Africa in the fields such as agritech, bio-technology, mining technologies, materials sciences, and nano-sciences. The global programme aims to pool resources, integrate and accelerate startup projects the incubator will be fostering across the continent. It is designed to equip young entrepreneurs with the skill sets to develop and grow startups.
Impulse Programme Director, Adnane Soulimani, said the programme was dedicated to start-up businesses, fostering innovation and supporting entrepreneurs with their projects through its acceleration programme.
In addition to opening doors to new technology entrepreneurs, Soulimani believed it will boost the drive towards economic diversification. It will see startups receive guidance from local and international experts to help grow their start-ups.
Soulimani stressed that incentivising investment in start-ups and small businesses are key to creating a successful ecosystem.
According to him, the goal of impulse is to cultivate a healthy innovation ecosystem that drives economic growth and societal impact.
He said participating startups will have full access to state-of-the-art research facilities and laboratories, equipped with the latest equipment. They will be supervised by OCP experts, professors and Ph.D. students from the UM6P, and mentors from the world of entrepreneurship.
Impulse, he said, is open to Moroccan and international start-up projects, with an aim to foster the development of an innovation hub that will respond to African needs.
Through the programme, Soulimani said start-ups will have the opportunity to compete for a $250,000 prize at the Demo Day where the projects will be presented to a panel of judges.
He said start-ups interested and selected by a jury of local and international experts and mentors will pitch in Abidjan, Côte d’Ivoire, Addis Ababa, Ethiopia, and Lagos.
According to him, the programme will provide financial assistance to entrepreneurs and will also provide business skills training, like when and how to raise funds for a project.
He explained that applications for the programme are open until October 1. The accelerator programme will start on January 15, with the Demo Day taking place on April 8.
Secretary-General, University Mohammed VI Polytechnic (UM6P), Hicham El Habti, said the university was determined to bring together all the players in the business of innovation in Morocco, Nigeria and the rest of Africa.
From the emergence of an idea, to the technological maturation, through the acceleration of high-tech companies and assistance in fundraising, he said experts will cross skills within its ecosystem to detect startup projects and accompany them right from their early stage of development.
Habti said the institution in partnership with OCP Group, launched “Impulse,” a 12-week accelerator programme to support start-ups.
He said the programme was designed with Mass Challenge, a global start-up accelerator, which has supported more than 1900 start-ups around the world, raising $4.3 billion in funding.
The university, according to him, provides dynamic living and learning laboratory where students, faculty, and staff work together to address the real-world problems of business and society.
Chief Communications Officer, Mohammed V1 Polytechnic University, Khalid Baddou said the institution has five founding principles: applied research; innovation and entrepreneurship; addressing Africa’s socio-economic development challenges; adopting a partnership approach; openness on the world with national focus; social equity and merit.
He said technology transfer and knowledge exchange represent a significant investment for the institution, adding that it has developed a vibrant entrepreneurial environment that is becoming an increasingly strong competitive driver for attracting students.
He said there were programmes to help students’ fast-track the commercial development of their ideas and strengthen their entrepreneurial skills, adding that OCP international is championing a new regional effort to transform African agriculture.
Director, Global Partnership, Mass Challenge, Brittany McDonough, said the incubator looks for high-impact startups, with a viable path to success and some traction/progress in their plans.
According to her, MassChallenge does not take equity from the startups they support.
Herve Pillaud of Digital Africa said there is need for exchange of ideas between African entrepreneurs on digitalisation.
He emphasised building capacities for adapting technologies by different farmers, adding that there has been increase in the number of startups in the field of precision farming, offering a variety of products, from sensors that obtain accurate data to the products that simplify the decision-making process.
Co-founder, SOWIT, Hamza Rkha Chaham, said the startup technologies has helped to resolve real-world problems in food security and precision agriculture.
Chief Executive, Small Enterprise Funds, Meriem Zairi, also said venture capitalists are committed to funding innovative entrepreneurs, working closely with them to transform breakthrough ideas into emerging growth companies that drive job creation and economic growth.
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