News

Boosting Mediterranean entrepreneurship: UfM scheme supports innovative projects

16-01-2012

The seed capital, development and orientation fund (FARO), a Union for the Mediterranean funding scheme to encourage partnerships between innovative entrepreneurs in the Mediterranean countries, selected 15 projects at the end of 2010, eight of which have already been launched and seven of which are being examined.  It also aims to fund 25 new projects this year.

 
The FARO, created in the framework of the Union for the Mediterranean (UfM), aims to support 40 entrepreneurs in the initiation of innovative projects that combine French entrepreneurs and partners in the Southern Mediterranean (Algeria, Palestinian Authority , Egypt, Israel, Jordan, Lebanon, Libya, Morocco, Syria, Tunisia and Turkey). Each project receives a grant of up to €20,000, which funds up to 50% of the total costs of the project.

Seeking to boost entrepreneurs internationally, FARO is open to all fields of activity.  Among the eight projects already launched are the following:
 
  • Prestige Solaire, develops a solar tracker for photovoltaic panels in the Maghreb
  • Advansolar,  aims to create a solar charging station station for electronic devices in urban areas in Morocco and Tunisia
  • Lenara, seeks to develop a process to use Tunisian prickly pears’ skin for animal food in Morocco
  • Access Food Technologies, combines construction and food with its project to create an energetically autonomous catering unit with partners in Morocco and Tunisia
  • Parrainer la Croissance, will set up a call centre on the economic zone of Bethlehem which will host Israeli and Palestinian operators
  • Synexie, will develop a localisation software for smartphones aimed at tourists in Morocco and other Maghreb countries.
 
Eligible projects must be innovative, contribute to the economic, social and / or environmental development of a southern Mediterranean country and involve stakeholders from three different countries (including at least one of the southern Mediterranean). (ENPI Info Centre)
 
Read more
 
Press release (FR)
 
FARO - website
 
UfM Secretariat website
 

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