AfriLabs, UM6P Ventures in 1-year collaboration to advance African entrepreneurship
African hubs network AfriLabs and Moroccan university-owned investment firm UM6P Ventures have agreed a one-year collaboration that will rollout various initiatives to support and develop African entrepreneurship.
AfriLabs is a network organisation that is committed to driving innovation and entrepreneurship on the continent by bringing together technology hubs, startups, investors, and other key stakeholders in the ecosystem.
Having recently announced the admission of 16 new hubs, AfriLabs now has a network of 478 hubs across 260 cities in 53 African nations.
UM6P Ventures, meanwhile, is the investment arm of Morocco’s University Mohammed VI Polytechnic, founded as a vehicle for the university to advance entrepreneurship and accelerate scientific innovation. It makes early-stage investments in deeptech and digital transformation.
The one-year collaboration will see AfriLabs and UM6P Ventures collaborate on several key initiatives aimed at advancing scientific innovation and entrepreneurship in Africa. They will provide comprehensive support for startups within the UM6P ecosystem, including mentorship, resources, and access to AfriLabs’ extensive network of over 450 technology innovation hubs across 53 African countries.
Additionally, the AfriLabs Connect Deal Room (ACDR) initiative will open up a pipeline of de-risked and investible startups within the AfriLabs network to UM6P Ventures, facilitating further investment opportunities. The partners will also engage in co-innovation projects that address local and regional challenges, leveraging UM6P’s research and development capabilities alongside AfriLabs’ entrepreneurial ecosystem.
Furthermore, they will explore the potential launch of UM6P courses tailored for the AfriLabs Academy audience, enhancing educational offerings and skill development across the continent.
“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.
