SmartProf, Morocco-based EdTech Raises $50,000 to Develop an Integrated Ecosystem
Following its graduation from the third cohort of the Mohammed VI Polytechnic University (UM6P) Startgate and Plug and Play Morocco startup competition, the Moroccan edtech company Smartprof has earned $50,000 in investment.
Hamza Faiz, Mustapha Faiz, and Ali Faouzi founded Smartprof in 2021 to provide a tutoring software for pupils in school.
“This event is an opportunity for us to look back on what has been done, in the space of the last two years, to enable the local startup scene and pursue our ambitions in building an integrated ecosystem that offers concrete opportunities to local talent,” said Aziz El Hachem, North-Africa Director at Plug and Play, in response to a question about the third Batch Expo Day.
The edtech company Kezakoo, the proptech company Agenz, the provider of sustainable mobility solutions POGO, and Mytindy, a marketplace for regional artisans and crafters selling handcrafted goods, were among the other startups that took part in Expo Day.
In an effort to support Morocco’s developing startup ecosystem amid local and global worries about an economic slump and funding cuts, Plug and Play Morocco (PnP) and SUM6P Startgate have worked together for the past three months to mentor 12 businesses located in Morocco.
During the PnP Batch 3 Expo Day in Casablanca, 12 businesses presented their business plans to partners and managers of significant venture capital firms operating in Africa.
On July 6, Chari, Jobop, and WafR, two aspiring young entrepreneurs and alumni from the first and second batches in April 2021 and March 2022, respectively, attended the event to learn about new innovative ideas in Morocco and to lend their support.
For this expo, a list of companies that offer digital breakthroughs in the domains of education, health, real estate, retail, and tech industry was chosen, with a focus on themes relevant to the creation of smart cities. These firms were both freshly started and somewhat established.
It featured ed-tech businesses Smart Prof and Kezakoo, a startup focusing on handicrafts called MyTindy, a sustainable mobility app called POGO, and an online real estate marketplace called Agenz.
For their innovative tutoring marketplace, which links K–12 kids with tutors pursuing higher education, Smart Prof, the winner of the Startgate and PnP Batch 3 competition, got $50,000.
According to Yassine Laghzioui, the head of entrepreneurship and venturing at UM6P, the university is “seeking to put Morocco and Africa at the forefront of technology and innovation” and is situated in Benguerir.
Laghzioui continued, “We are putting the current challenges of the African continent as the pillars of our mission statement,” noting that access to health care, food security, sustainable resource exploitation, and digital inclusion are the major issues impeding the growth of the continent.
Laghzioui noted that the continent must address additional issues related to the growth of the continental startup ecosystem, such as the lack of capital, the dominance of fragmented markets, the lack of quality education, and weak infrastructure. He put “innovation for Africa” at the center of UM6P’s work.
The 12 businesses made it obvious during the expo day that they were interested in expanding their operations to Western Africa, particularly Francophone Africa. This indicates a marked shift in the Moroccan entrepreneurial sector, which was previously focused on Europe.
However, Yamawaki maintained that the entrepreneurs must maintain a “balancing power dynamic” with the investors, which necessitates the diversification of investment money.
PnP reminded new ambitious Moroccan entrepreneurs with innovative ideas to apply for Batch 4 before September 15, 2022. The 12 startups are immersing themselves further into the Moroccan startup ecosystem with the goal of one day becoming a Moroccan unicorn, a startup valued at $1 billion.
