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InnovX
Bpifrance and Innovx sign strategic partnership
Bpifrance, the public investment bank, and INNOVX, a multisectoral company committed to developing innovative, sustainable businesses and ecosystems, announced today, April 26, 2024, the signing of a memorandum of understanding aimed at strengthening cooperation around strategic projects in key sectors in France and Morocco. This collaboration addresses the challenges of industrial decarbonization, energy transition, and strengthening agricultural value chains.
The ceremony took place in the presence of Nadia Fettah Al Alaoui, Minister of Economy and Finance of Morocco, and Bruno Lemaire, Minister of Economy, Finance, and Industrial and Digital Sovereignty of France.
This partnership, fully aligned with the strategic plans of INNOVX and Bpifrance, aims to support strategic projects developed by INNOVX in conjunction with French companies through Bpifrance's financing, investment, and guarantee tools.
Additionally, the collaboration envisions the possibility of establishing co-investment mechanisms to strengthen value chains and ecosystems, particularly in the areas of innovation and deeptech, and agricultural value chains. Moreover, leveraging Bpifrance’s expertise in financing innovation and INNOVX's know-how in developing businesses and ecosystems, the partnership aims to invigorate the entrepreneurial landscape and foster the development of innovative projects with significant growth potential.
"Our strategic partnership with Bpifrance reflects our shared commitment to address the challenges of industrial decarbonization, energy transition, and strengthening agricultural value chains. This collaboration marks a significant step in realizing our vision and ambition to develop innovative and sustainable businesses and ecosystems," commented Youssef EL BARI, CEO of INNOVX.
"This partnership, with a leading player with whom we share the same ambition and vision, will allow us to accelerate the strengthening of agricultural value chains and address the challenges of food security and sovereignty in our continent," testified Younes Addou, Vice President Agribusiness & Sustainability Solutions at INNOVX.
Olivier Vincent, Executive Director in charge of export at Bpifrance, comments: "The signing of this partnership between Bpifrance and INNOVX announces a new era of cooperation between France and Morocco, centered on the strategic sectors of the future. Industrialization, decarbonization, and resource optimization are common challenges that foster high-value partnerships between INNOVX and French companies."
Isabelle Bébéar, Director of International and European Affairs at Bpifrance, adds: "It is particularly relevant to develop strategic projects between France and Morocco, capitalizing on our respective areas of expertise, especially investment and innovation, and that is the essence of this partnership. By focusing on concrete programs related to renewable energies, agri-agro, and industry, we enhance the connectivity of our ecosystems to the benefit of our companies."
INNOVX is a multidisciplinary and multisectoral group committed to addressing global sustainability challenges and contributing to Morocco's technological leadership.
As a subsidiary of the Mohammed VI Polytechnic University (UM6P), INNOVX combines the roles of investor, technological incubator, and business developer to conceive, develop, and industrially deploy innovative, high-performance technological enterprises and ecosystems with a significant environmental and social impact.
The INNOVX group operates in strategic sectors crucial for food sovereignty, energy and digital transition, including Agriculture, Social Innovation, Energy, Chemistry, and Digital. For more information, visit our website:Innovx.ma , https://www.linkedin.com/company/innovx1/