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Economy

Morocco's Entrepreneurial Ascent: Leveraging Data-Driven Policies for a Thriving Startup Ecosystem

Friday 16 February 2024 - 10:25

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Morocco's strides in fostering entrepreneurship are underscored by recent findings from the esteemed Global Entrepreneurship Monitor (GEM). According to the latest data, the North African nation has ascended five places to rank 30th globally in GEM's evaluation of national entrepreneurial conditions.

GEM's annual National Entrepreneurial Context Index (NECI) evaluates 12 crucial factors influencing startup environments across economies worldwide. This year, Morocco has shown improvement in 8 out of 13 criteria, particularly in the realm of supportive government policies.

Despite maintaining an overall NECI score of 4.3 out of 10, Morocco's higher rankings in comparison to peer nations highlight the tangible impact of targeted reforms. However, there are still areas that require attention, such as expanding entrepreneurship education and enhancing women's access to resources. Encouragingly, initiatives like Forsa and Awrach aim to equip over 250,000 young entrepreneurs and job seekers, signaling a proactive approach towards addressing these gaps.

These findings were unveiled during a GEM report launch event at Hassan II University, drawing participation from international researchers. With a track record spanning 25 years and encompassing nearly 4 million entrepreneurs globally, GEM provides an invaluable evidence base. In Morocco alone, over 150 interviews are conducted annually, involving 370 specialists and 150 academic institutions.

The insights gleaned from this research directly inform Moroccan policy decisions. As Dean Komat noted, these assessments offer "very useful" guidance for strategic interventions. By meticulously tracking metrics such as early-stage business creation rates over time, policymakers can discern the efficacy of implemented reforms and identify areas requiring further support.

Morocco's ascent in the rankings underscores the dividends of its data-driven approach. Through continuous monitoring of the evolving entrepreneurial landscape, the nation sets a trajectory for startups to thrive. For other developing economies aspiring to spur innovation and job growth, Morocco serves as a beacon of evidence-based policymaking in action.