IFC has announced a new advisory program aimed at making it easier for start-ups in Algeria, Libya, Morocco, and Tunisia to expand across North Africa.
Through focused stakeholder engagement and a series of public-private dialogues, the Start Maghreb initiative brings together start-ups, incubators, accelerators, investors, funders, and other stakeholders to exchange experience, identify obstacles, and devise solutions.
The goal is to assist start-ups in gaining access to larger markets throughout the Maghreb, as well as to provide more jobs and possibilities for the region’s youth.
“Young people in the Maghreb are among the most innovative in the world,” said Xavier Reille, IFC Country Manager for the Maghreb. “They have developed several start-ups that satisfy the requirements of their communities.” “Our new program will pave the road for even more start-ups to grow and expand throughout the region, boosting regional cooperation and job creation.”
Entrepreneurs and start-ups are seen as critical components of the region’s economy, contributing to innovation, job creation, and growth. The region’s start-up ecosystem, on the other hand, is still in its infancy, with difficulties in bringing new goods to market, integrating new technologies, and providing funding to help enterprises thrive.
The new program will bring donors into the conversation and assure synergies in strengthening the start-up ecosystem across the Maghreb, in addition to creating greater regional integration and driving innovation.
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