Over the past 25 years, the Kingdom of Morocco has undergone a significant transformation under the leadership of King Mohammed VI. Since his ascension to the throne in 1999, the monarch has promoted a vision of modernisation and development that has encompassed multiple aspects of Moroccan society and the economy.
In recent years, Morocco has become one of the most sought-after destinations for international start-ups. All this is possible thanks to Morocco’s efforts over the past few years to stimulate the growth of startups, with a focus on technology and innovation. The country has achieved significant growth in attracting investment in startups, with a 93% increase by 2023.
More than 10 public and private investment funds have been set up in recent years to support startups. Last year Morocco signed 17 financial agreements, and this number is increasing every year. In StartupBlink’s Global Startup Ecosystem Report (GSER), Morocco has improved its ranking to 34th, indicating significant growth in its startup ecosystem.
The investment director of the ‘Digital Morocco Fund’ expects that within five years the country could become the third largest investor in African startups. Proof of this is the new initiative presented last January under the name ‘Maroc Digital 2030’, which aims to accelerate the digitisation of the country and close the digital gap with the most technologically advanced countries, and after boosting the growth of local industry, continue to attract startups and international companies to settle in the country.
The stage of these 25 years of sustained growth under the fruitful reign of Mohammed VI has materialised in strategic axes of growth with great success, becoming the most prosperous kingdom in North Africa and whose history runs parallel to that of Spain in all its aspects:
- Infrastructure development: the King has promoted emblematic projects such as the Tangier Med port complex, the high-speed train line between Tangier and Casablanca, and an extensive network of motorways connecting the country’s main cities. These projects have not only improved internal connectivity, but have also positioned Morocco as a regional logistics hub.
- Social and political reforms: important reforms have been implemented such as the modernisation of the Family Code, improving women’s rights, and progress has been made in the decentralisation of power through advanced regionalisation.
- Economic development: the King has promoted the diversification of the economy, attracting investment in sectors such as the automotive industry, aerospace and renewable energy. The Noor solar plant project is an example of the commitment to energy transition.
- Active diplomacy: Mohammed VI has promoted a dynamic foreign policy, strengthening relations with Europe and positioning Morocco as a key player in Africa. The Sahara issue has been central to these diplomatic efforts.
- Social projects: initiatives have been launched to reduce poverty, improve access to education and health, and promote human development in general.
- Cultural promotion: the King has encouraged the preservation and promotion of Morocco’s cultural heritage, while encouraging openness to modern influences.
- Regional development: special emphasis has been placed on the development of the southern provinces, with projects such as the new port of Dakhla and other infrastructure.
In this environment, Morocco has developed many start-ups that have aligned themselves at the forefront of the global economy and whose relations will be expanded in the context of Startup OLÉ, one of the largest events for entrepreneurship and technological innovation in Europe and Latin America, which will take place from 8 to 10 October in Salamanca.
In this context, Emilio Corchado, CEO and founder of the international fair, has held a series of meetings that will materialize in a new ‘Framework Action Programme’ with this new Morocco, which will be presented during Startup OLÉ Salamanca ‘24. In addition, the entrance to the general public to attend the event is free, and you can register for free as an attendee at the following link: https://lc.cx/GIbXfT.
Startup OLÉ is an initiative that aims to connect entrepreneurs and startups/scaleups with investors, corporations, public administrations, media and other agents of the international ecosystem, in an environment conducive to doing business and obtaining investment, with the ultimate goal of creating wealth and employment.
To this end, it will include forums on investment and corporations, cybersecurity (CIBER-SHUBE), accelerators, public administrations, media, universities, Ibero-America, rural innovation and a hackathon, among others. It will also feature exclusive content with great speakers at round tables and plenary talks, a startup fair, pitch competition, business rounds and networking activities including cocktails and concerts, making Salamanca the epicentre of international entrepreneurship and investment during these days. In its 2023 edition, Startup OLÉ hosted nearly 2,500 event attendees, more than 800 top speakers, 230 startups and more than 150 investors and corporations, bringing together personalities and entrepreneurs from 29 countries.
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