Supported by both Mohammed VI Polytechnic University (UM6P) and OCP Group, the Fund will invest an initial capital of $50 million over the next 5 years to support founders building technologies to sustainably feed a growing population.
SAN FRANCISCO, USA – African Media Agency – 22 March 2022 – Bidra (Arabic for ‘seed’) is a new fund focused on identifying, growing and empowering bold and innovative solutions in world agriculture whole. Launched with the support of UM6P and the OCP Group, world leader in plant nutrition. Bidra is committed to being a dynamic partner in the global effort to sustainably feed the growing world population.
Based in San Francisco, California, Bidra will initially be endowed with $50 million to invest over a 5-year period. Bidra is an autonomous fund operating independently, with the management of Bidra being empowered to make investment decisions. The Fund is expected to start operating from April 1, 2022. Bidra’s ambition is to have a tangible impact on agriculture by focusing on peasant solutions. In doing so, the Fund will cover areas such as agricultural inputs, digital agricultural services and agricultural market solutions.
By partnering with the most promising agricultural entrepreneurs and allying with innovative companies, Bidra will prioritize disruptive and scalable start-ups and allow them to benefit from the stimulating environment, cutting-edge know-how, access to the market, the established brand and the historical experience of the Mohammed VI Polytechnic University and the OCP Group.
“I am thrilled to join Bidra at the most critical time in our industry. I am grateful for UM6P’s initiative and belief in supporting founders and cutting-edge technologies in agriculture. I am also grateful to have an industry like the OCP Group as a funder.Having UM6P and OCP as the only investors guarantees Bidra the support of patient capital and access to unparalleled resources”. said Amar Singh, President of Bidra Innovation Ventures.
Mr. Hicham El Habti, President of UM6P and Chairman of the Board of Directors of Bidra added: “UM6P is dedicated to research and innovation and brings together a comprehensive innovation ecosystem made up of the best researchers, leading international academic and innovation partnerships, as well as several laboratories and capacities to test and improve new new technologies. We see Bidra’s partnerships with startups and the agricultural innovation ecosystem as a whole as key enablers in achieving our goal of helping transform agriculture towards greater sustainability.”
ABOUT Mohammed VI Polytechnic University (UM6P)
Mohammed VI Polytechnic University is a hub of education, research, innovation and entrepreneurship, aspiring to become a solid bridge of knowledge between Morocco, Africa and the world.
Located in the “green city Mohammed VI” in Benguerir, near Marrakech, with branches in Rabat and Laayoune, UM6P applies a “learning by doing” approach and develops strong partnerships with world-class universities, to promote leadership and training in targeted research. areas.
By contributing to the training of a new generation of researchers, entrepreneurs and leaders, the UM6P is committed to positioning Morocco and Africa at the forefront of technology and human sciences.
ABOUT OCP GROUP
The OCP Group contributes to feeding a growing world population by providing it with the essential elements for soil fertility and plant growth. With a century of expertise and a turnover of 9.4 billion dollars in 2021, the OCP Group is a world leader in plant nutrition solutions and the world’s leading producer of phosphate fertilizers. The Group offers a wide range of specialty phosphate fertilizers, suitable for enriching soils and increasing agricultural yields in order to efficiently and sustainably feed a growing world population. Based in Morocco, and present on 5 continents, the OCP Group works closely with more than 350 customers around the world. Committed in particular to the environmental and social development of Africa, the OCP Group places innovation at the heart of its strategy, to develop and strengthen sustainable agriculture on the continent. The Group is firmly convinced that leadership and profitability go hand in hand with social responsibility and sustainable development. Its strategic vision lies at the intersection of these two dimensions.
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