Benguerir, Monday May 24, 2021 – UM6P Ventures, the venture-capital arm of University Mohammed 6 Polytechnic (UM6P), is pleased to announce the signing of an agreement outlining a strategic partnership with Green Energy Park (GEP).
UM6P Ventures and GEP share a common ambition to develop entrepreneurship and accelerate scientific innovation in the fields of renewable energy and sustainable development. Together, the two institutions combine their respective vertical and capital subject matter expertise, and leverage a broad network of education, research, and industry partners to incubate and accelerate startups.
“GEP is keen to accelerate innovation-to-market in renewables. By taking an active role in incubation, mentorship and funding, we are accelerating the formation of innovative, high growth businesses in the renewable energy sector in Africa.” , said Zakaria Naimi – Director of GEP.
In addition to their general frame of collaboration, UM6P Ventures and GEP have agreed to advance mature projects in sustainable development, originally incubated at GEP, onto actual startups. Specifically, five projects have been selected for joint investment and advancement. They are in the areas of residential energy storage and management; and modular/mobile solar stations for custom applications.
“This initiative marks the instantiation of our shared commitment to bolster scientific innovation and mitigate investor risk – inherent in early-stage investment. This investment stage is critical as it marks the transition from a science or technology project, to an investable asset. Ultimately, we will seek to invite other investors to participate in opportunities that Morocco and our region generate in science-related fields. We are privileged to partner with GEP in this endeavor.”, stated Yasser Biaz, CEO, UM6P Ventures.
Sara Zouaher, Deputy-CEO