UM6P: Ben Guerir Shines in Genome Global Startup Report for Innovation Impact

Casablanca was featured among the top 200 emerging ecosystems globally and ranked eighth in the MENA region.

The Global Startup Ecosystem Report (GSER) 2024, unveiled by Startup Genome on June 10 during London Tech Week, has spotlighted Ben Guerir as a burgeoning force in the worldwide startup arena. This recognition is primarily attributed to the influential presence of Mohammed VI Polytechnic University (UM6P), which plays a pivotal role in driving innovation and entrepreneurship within the region.

UM6P’s robust initiatives and ambitious projects significantly bolster the local ecosystem, nurturing a supportive environment for startups and new ventures. As a prominent member of the Startup Genome network, UM6P benefits from invaluable advice and exclusive research, facilitating its role as a catalyst for innovation.

Startup Genome, a leading authority in innovation policy research, provides its network members, including UM6P, with access to a global coalition of policymakers, government representatives, and key figures dedicated to the accelerated growth of innovation ecosystems.

A Commitment to Socioeconomic Development

UM6P has steadfastly committed to the socioeconomic advancement of Morocco and the African continent through groundbreaking research, entrepreneurship, and knowledge transfer. Central to UM6P’s mission is its focus on entrepreneurship and startup incubation. The university supports aspiring entrepreneurs with comprehensive programs, training, and access to critical resources. Notable initiatives include UM6P’s Entrepreneur Academy, which offers entrepreneurial bootcamps and business model coaching.

The university’s international partnerships and collaborations with esteemed universities, research institutions, and corporations worldwide further enhance its innovation ecosystem. "UM6P, originating from OCP, Morocco's largest company, is pivotal in Ben Guerir's tech ecosystem. Its R&D efforts are a strategic driver, encouraging creativity and meeting challenges by focusing on the applied research, entrepreneurship, and innovation that serves Africa," the report highlighted.

A Comprehensive Analysis of Global Ecosystems

The GSER provides an in-depth analysis of over 300 entrepreneurial innovation ecosystems and 4.5 million startups, ranking the top 40 global ecosystems and emerging ecosystems, and extending regional rankings. The report shed light on 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: A Rising Player in MENA’s Startup Landscape

According to the report’s criteria for regional ranking inclusion, ecosystems must either rank in the Top 40 Global Leaders or Top 200 Emerging Ecosystems, or have an Ecosystem Value exceeding $200 million. Among the MENA region’s highlighted ecosystems, Casablanca secured the eighth spot. Leading the MENA region are Tel Aviv, Dubai, Cairo, Riyadh, and Abu Dhabi.

Casablanca, Morocco’s largest city and economic hub, is a significant contender in the MENA region’s startup ecosystem. The city is renowned for its vibrant business environment and robust infrastructure supporting diverse industries, including finance, commerce, and technology. Numerous startups and entrepreneurial ventures in Casablanca thrive, benefiting from an increasing number of incubators, accelerators, and innovation hubs.

Optimism for Early-Stage Startups

The Startup Genome report offers an overview of the global startup economy in 2023, a year characterized by mixed outcomes. Despite easing 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.

However, the report noted positive signs, particularly for early-stage startups. While global Series A funding fell by 46% in 2023 compared to 2022, the average deal size for Series A rounds increased in the latter half of 2023. Early 2024 showed further improvement, with sectors like Cleantech and Generative AI (GenAI) continuing to attract robust investor interest. "Frontier innovation can still attract investor enthusiasm regardless of global funding conditions," the report asserted.

Among the report’s key findings, the top three ecosystems, Silicon Valley, New York City, and London, have maintained their leading positions since 2020. Tel Aviv climbed one rank to tie with Los Angeles at the fourth position, while Seoul ascended three spots to rank ninth, entering the Top 10 ecosystems. Additionally, Tokyo made a notable entrance into the Top 10 for the first time, moving up from the 15th position in 2023 to the 10th in 2024, marking the most significant improvement among top ecosystems.