Startups from Egypt, Morocco and Tunisia have been invited to apply for MedUP!, an initiative that provides financing to grow and scale social enterprises.
MedUP!, which is also open to startups from Lebanon, Jordan and Palestine, targets social enterprises providing goods and services to communities in an entrepreneurial and innovative way and in need of growth funding.
Co-funded by the European Union and implemented by Oxfam, MedUP! has EUR1 million (US$1.1 million) of grant funding available for 100 companies across the six countries. In addition to the grant, the initiative will also offer startups technical support.
The project’s overall objective is to promote an enabling environment in the Southern Mediterranean partner countries for the development of the social entrepreneurship sector as a driver for inclusive growth and job creation.