From Ideas to Funding: Al Akhawayn Students Secure Major Investments at 'Entrepreneurship Month' Award Ceremony

Ifrane, November 9, 2024 – Al Akhawayn University in Ifrane concluded its "Entrepreneurship Month" with an investment ceremony on November 9, where 14 business angels backed some of the most promising projects developed by student entrepreneurs. Organized by the university’s Employability and Entrepreneurship Office (EEO), the event brought together over 400 students for a month-long, intensive mentorship program led by 50 industry experts from a wide range of sectors. 

Chris Taylor, Vice President of Academic Affairs at AUI, highlighted the importance of this initiative for the university: "Entrepreneurship is central to Al Akhawayn's mission. We believe that creating more businesses—and thereby more jobs—is key to addressing Morocco’s employment challenges. This event brings real-world investors to mentor students and, in many cases, invest in their ideas. Through this initiative, AUI positions itself as an incubator for ideas that will eventually help drive Morocco’s economy." 

Innovative Projects and Growth Opportunities 

From an initial pool of 200 project submissions, 18 teams, comprising 36 students from across Al Akhawayn University’s various academic fields, advanced to the final round. These young entrepreneurs received strategic funding, personalized mentorship, connections to potential clients, and seed capital to help launch their ideas. 

This year’s awarded projects span multiple sectors, including commerce, technology, health, agriculture, and education, each offering creative solutions to today’s pressing challenges. Highlighted among the winners: 

• Claro Digital Services: Founded by Mohammad Zentari, Claro Digital Services SARL addresses the digital divide for Moroccan and regional businesses, offering web development, digital strategies, and multilingual tools to enhance accessibility. Zentari received the award for Most Promising Startup, along with 17,000 MAD in equity, an additional 50,000 MAD post-evaluation, access to potential clients, and a customized mentoring program. Upon receiving his award, Zentari expressed his gratitude: "I am deeply grateful to the mentors, professors, and coaches who have supported us throughout the month, providing invaluable guidance that allowed us to bring our project to this level." 

• YAZ Agricultural Solutions: Created by Hatim Lachheb and Jad Tounsi El Azzoiani, YAZ specializes in hydroponics and artificial intelligence to tackle Morocco’s water scarcity and drought challenges. The project secured 17,000 MAD in equity, with a 5-10% stake, an additional 50,000 MAD after valuation, B2C product purchases, and direct access to clients. 

• TeleHeard: Led by Aya El Bouzid, TeleHeard provides accessible and affordable online and VR mental health therapy services, available anytime and anywhere. The startup received 12,000 MAD in seed capital, access to suppliers and potential clients, along with marketing support. 

• Bankly: Developed by Adnane Alaoui, Ihssane Mouhtadi, and Mohamed Taha Marham, Bankly is a secure digital banking solution for Morocco, offering single-use credit cards to address online payment security needs and contribute to the shift to a cashless economy. The project was awarded 22,000 MAD in equity, assistance with company creation, and prototype development coaching. 

Empowering Students Through Entrepreneurship 

Nicolas Klotz, Executive Director of Entrepreneurship at AUI, emphasized the role of entrepreneurship in the student experience: "Our students have immense potential, and our goal is to equip them to turn their ideas into viable businesses that can create jobs and meet market demands. Fostering an entrepreneurial mindset is essential for launching a business and is highly valued by Moroccan employers." 

As a mentor and business angel, Ali Ouariache, CEO of WinBooks Morocco, praised the initiative: "I was impressed not only by the quality of the projects but also by the students' communication skills and their ability to present in multiple languages." He also added: "I am convinced that Morocco and Africa’s next unicorns will emerge from Al Akhawayn students." 

A Pan-African Vision 

This edition of "Entrepreneurship Month" also introduced a Pan-African component, encouraging collaboration between Moroccan and sub-Saharan students to drive innovation across the continent. This focus was exemplified by Student Paddy, a platform created by Hajar Nafid of Morocco and Nnaemeka Ifeakor of Nigeria. The platform connects students, employers, and university alumni across Africa to strengthen employability through AI-driven job matching, internships, and career development tools. The startup leverages blockchain and data analytics to streamline the transition from education to employment in Africa and was awarded 50,000 MAD in equity, along with access to potential clients. 

The diverse range of projects at Entrepreneurship Month reflects not only the creativity of AUI’s students but also the university's commitment to its Liberal Arts approach. This academic model encourages students to develop cross-disciplinary skills and critical thinking, equipping them to tackle complex challenges and deliver innovative solutions in a variety of sectors. 

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About the Employability & Entrepreneurship Office: 

The Employability & Entrepreneurship Office at Al Akhawayn University in Ifrane believes that students have multiple futures. The office’s goal is for every student to have multiple job or investment offers before graduation. Throughout a student's life at AUI, the E&E Office connects them to the Moroccan and MENA markets. Whether students aim to work remotely, start a business, or launch their careers, the E&E Office provides the vital connections needed to succeed.