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AfriLabs, an African hub network, and UM6P Ventures, an investment firm controlled by a Moroccan university, have reached an agreement to collaborate for one year.
This collaboration will involve the implementation of a variety of initiatives to foster and develop African entrepreneurship.
AfriLabs is a network organization that is dedicated to fostering innovation and entrepreneurship on the continent by uniting technology centers, startups, investors, and other critical stakeholders in the ecosystem.
AfriLabs has expanded its network of hubs to 478, spanning 260 cities in 53 African nations, following the recent announcement of the admittance of 16 new hubs.
UM6P Ventures, on the other hand, is the investment branch of the University Mohammed VI Polytechnic in Morocco. It was established as a means for the university to promote scientific innovation and entrepreneurship. It makes early-stage investments in digital transformation and deep tech.
AfriLabs and UM6P Ventures will collaborate on several critical initiatives over one year to promote scientific innovation and entrepreneurship in Africa. mentorship, resources, and access to AfriLabs’ extensive network of over 450 technology innovation centers across 53 African countries, they will offer comprehensive support to startups within the UM6P ecosystem.
“We are thrilled to partner with UM6P and UM6P Ventures to drive innovation and entrepreneurship in Africa. This collaboration aligns with our vision of building a vibrant community around tech hubs and stimulating economic growth through digital innovation,” said Mayssa Mrabet, director of community at AfriLabs.
Furthermore, the AfriLabs Connect Deal Room (ACDR) initiative will provide UM6P Ventures with access to a pipeline of de-risked and investible businesses within the AfriLabs network, thereby enabling additional investment opportunities. The partners will also participate in co-innovation initiatives that address local and regional challenges, utilizing AfriLabs’ entrepreneurial ecosystem and UM6P’s research and development capabilities.
Additionally, they are going to explore the potential implementation of UM6P courses specifically designed for the AfriLabs Academy audience, thereby improving the educational offerings and skill development on the continent.
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