In one-year partnership, AfriLabs and UM6P Ventures to promote African entrepreneurship
African hubs network AfriLabs and Moroccan university-owned investment firm UM6P Ventures have reached an agreement to work together for a year, during which time they will launch a number of projects aimed at fostering and advancing entrepreneurship in Africa.
By bringing together technology hubs, startups, investors, and other important players in the ecosystem, AfriLabs is a network organization dedicated to promoting innovation and entrepreneurship on the continent.
AfriLabs has announced the addition of 16 new hubs, bringing its network to 478 hubs spread across 260 cities in 53 African countries.
The investment division of Mohammed VI Polytechnic University in Morocco is called UM6P Ventures, and it was established to help the university promote entrepreneurship and quicken scientific innovation. It invests in deeptech and digital transformation in its early stages.
During the course of their year-long partnership, AfriLabs and UM6P Ventures will work together on several significant projects that will advance scientific innovation and entrepreneurship in Africa. In addition to resources, mentorship, and access to AfriLabs’ vast network of over 450 technology innovation hubs spread across 53 African countries, they will offer full support for startups operating within the UM6P ecosystem.
Further investment opportunities will be made possible by the AfriLabs Connect Deal Room (ACDR) initiative, which will allow UM6P Ventures to access a pipeline of de-risked and investible startups within the AfriLabs network. Together with UM6P’s research and development resources and AfriLabs’ entrepreneurial network, the partners will work on co-innovation projects that tackle regional and local issues.
In order to improve educational opportunities and skill development throughout the continent, they will also investigate the possible introduction of UM6P courses designed specifically for the AfriLabs Academy audience.
“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.
