The Blue Space building at ISCAE. ph. Sradni
The Blue Space by Bank of Africa & Groupe ISCAE incubator was subsequently recognized last Friday at the Institute’s Casablanca campus. This initiative, which can last up to 5 years, from pre-incubation to business development, consists of two components. Primo, an educational banking space dedicated to students. Second, an incubator for project leaders participating in the program. Finally, an investment fund intended for Blue Space incubates will soon be operational.
Good news for project leaders. The Blue Space by Bank of Africa & Groupe ISCAE incubator was then recognized, last Friday, within the Casablanca campus of ISCAE. “It is the realization of an intelligent partnership between two institutions, whose position, each in its field, confirms the leadership in science and managerial practices to contribute to supporting the economic and social development of Morocco and Africa. This approach of decompartmentalization between the world of education and that of business has been the basis of the ISCAE model since its creation”, indicated, during this meeting, the general manager of the ISCAE group, Nada Biaz.
This new building, the result of a public-private partnership, is intended to support students and project leaders in the realization of their entrepreneurial ambitions. This initiative, which can last up to 5 years, from pre-incubation to business development, consists of two components. Primo, an educational banking space dedicated to students. Second, an incubator for project leaders participating in the program. “The first sourcing took place at the end of December 2019, with a first cohort, whose selected projects are at the end of the incubation phase. Today, the call for applications for a second cohort has just been closed”. Blue Space offers participants a range of services and tools. Thus, in addition to an incubation space, they benefit from a complete training cycle on campus, support for the mobilization of partnerships and funding, technical and methodological support, individualized advisory support . But also access to the ecosystem of the Bank of Africa Entrepreneurship Observatory, a partnership synergy putting project leaders in contact with existing support networks. “It’s not just another project.
The particularity of Blue Space is that it is within a school and therefore closer to the students. We will release a unicorn and have this unicorn sit with us today,” says Ryad Mezzour, Minister of Industry and Trade. Note that in addition to this incubator hosted at ISCAE, the Blue Space program also offers incubators at Hassan II University and the EuroMed University of Fez.
100 million dirhams of funds to support incubates
An investment fund for Blue Space incubates will soon be operational. “Developed by BMCE Capital Conseil, it concerns an overall envelope of 100 million DH, in the form of tickets of 1 to 2 million DH”, declared the central director of the Economic Intelligence Center of Bank Of Africa, Mamoun Tahri -Joutei. The fund has already been validated by the Central Guarantee Fund and should soon be approved by the Moroccan Capital Markets Authority. ISCAE incubated projects have already been presented to the Fund.