(Ecofin Agency) - The startup ecosystem in Morocco has seen significant growth in recent years. In 2023, their funding reached $111.2 million, compared to $7.6 million in 2022, according to the Global Startup Ecosystem Index 2023.

Morocco has set aside 240 million dirhams ($24.4 million) to boost demand for innovative digital services and support local startups. This was announced by Ghita Mezzour (pictured), the Minister of Digital Transition, during the 6th edition of the African Digital Summit on October 8.

According to the Moroccan Press Agency, the initiative is part of the "Morocco Digital 2030" strategy. This plan aims to transform the country’s digital economy by improving infrastructure, funding, and support for startups. The government hopes to make Morocco a global digital hub by the end of the decade while creating 240,000 jobs in digital fields.

The Moroccan startup ecosystem has grown significantly in recent years. The Global Startup Ecosystem Index 2023, published by Startup Blink, ranked Morocco 11th in Africa, ahead of countries like Uganda and Rwanda. In 2023, funding for Moroccan startups reached $111.2 million, a big jump from $7.6 million in 2022.

Despite this progress, startups in the country still face major challenges, especially when it comes to funding. The Startup Blink report highlights structural obstacles such as unequal access to education and healthcare, gender disparities, and a lack of supportive legal frameworks for tech startups.

To address these issues, Morocco is relying on its "Morocco Digital 2030" strategy, which aims to make the country one of the world’s top 50 in e-government, rising from its current position of 113th. The plan also includes training more than 100,000 digital professionals by 2030, with support from 2,250 vocational training centers.