The Global Startup Ecosystem Report (GSER) 2024, released by Startup Genome on June 10 during London Tech Week, has recognized Ben Guerir as an emerging player in the global startup landscape.
This recognition is largely due to the presence of the Mohammed VI Polytechnic University (UM6P), a key institution driving innovation and entrepreneurship in the region.
The initiatives and projects of UM6P significantly contribute to the local ecosystem by providing a supportive environment for startups and new ventures.
Startup Genome, a leading research organization in innovation policy, offers its network members – including UM6P – valuable advice and exclusive research, according to the report.
Members of the Startup Genome Network benefit from a global network of policymakers, government representatives, and leaders dedicated to accelerating the growth of innovation ecosystems.
UM6P has long been committed to the socioeconomic development of Morocco and the African continent through groundbreaking research, entrepreneurship, and knowledge transfer.
One of the key initiatives of UM6P is its emphasis on entrepreneurship and startup incubation. The university supports aspiring entrepreneurs through programs, training, and access to resources. Examples include UM6P’s Entrepreneur Academy, which organizes entrepreneurial bootcamps and business model coaching.
Additionally, UM6P is known for its international collaborations and partnerships with prestigious universities, research institutions, and companies worldwide.
“UM6P, stemming from OCP, Morocco’s largest company, is crucial in the tech ecosystem of Ben Guerir. Its R&D efforts are a strategic driver, encouraging creativity and addressing challenges by focusing on applied research, entrepreneurship, and innovation that benefit Africa,” said the report.
The GSER provides a detailed analysis of more than 300 entrepreneurial innovation ecosystems and 4.5 million startups, ranking the Top 40 global ecosystems and emerging ecosystems, and expanding regional rankings.
The report highlighted various regional ecosystems, with 30 ecosystems ranked in Asia, Europe, and North America. Fewer than 30 ecosystems qualified in Latin America, MENA, Oceania, and sub-Saharan Africa.
Casablanca: An Emerging Player in the MENA Startup Landscape
According to the report’s regional ranking criteria, ecosystems must be ranked either in the Top 40 Global Leaders or the Top 200 Emerging Ecosystems, or have an ecosystem value of more than $200 million.
The report highlighted 16 ecosystems in the MENA region, including Casablanca, which ranks eighth among MENA ecosystems. Leading the MENA region are Tel Aviv, Dubai, Cairo, Riyadh, and Abu Dhabi.
Casablanca, Morocco’s largest city and economic hub, is a key player in the MENA region’s startup ecosystem.
It is known for its vibrant business environment and strong infrastructure supporting various industries, including finance, commerce, and technology.
The city hosts numerous startups and entrepreneurial initiatives benefiting from a growing number of incubators, accelerators, and innovation hubs.
Positive Signs for Early-Stage Startups
The Startup Genome report provides an overview of the global startup economy in 2023, a year marked by mixed results. Despite declining inflation in most regions and better-than-expected global GDP growth, the tech sector faced ongoing challenges, with exits and VC funding yet to return to pre-COVID-19 levels, according to the report.
However, the report noted positive signals, particularly for early-stage startups. While global Series A funding dropped by 46% in 2023 compared to 2022, the average deal size for Series A rounds increased in the latter half of 2023 compared to the same period in 2022.
Early 2024 showed further signs of improvement. Sectors such as Cleantech and Generative AI (GenAI) continue to attract investor enthusiasm, “demonstrating that breakthrough innovation can still attract investor excitement, regardless of global funding conditions,” said the report.
Among the key findings of the report, the top three ecosystems – Silicon Valley, New York City, and London – have retained their positions since 2020.
Tel Aviv climbed one spot to tie with Los Angeles in fourth place, while Seoul rose three places to rank ninth, entering the Top 10 ecosystems.
Meanwhile, Tokyo entered the Top 10 for the first time, moving from 15th place in 2023 to 10th in 2024. This marks the most significant improvement among the top ecosystems.
Morocco World News
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