This 2023 edition will have largely kept its promises by even allowing 1,200 additional young people to realize their entrepreneurial dream, indicates the ministry in a press release.
In total, “Forsa” will have financed 21,200 project leaders and created more than 40,000 jobs in the formal sector, specifies the same source.
Strong enthusiasm has characterized the “Forsa” program since its launch in 2022. In total, more than 300,000 applications were received between the two editions, demonstrating a strong desire for entrepreneurship among young people.
Thanks to budgetary optimizations and capitalization on all the tools put in place in 2022, the second edition of “Forsa” finances 1,200 additional projects in 2023, thus exceeding the initial objective.
In addition to these remarkable results, “Forsa” has significantly strengthened the participation of women in the program, a commitment made from the first edition.
Women represent 45% of the beneficiaries of “Forsa” 2023, an increase of 20 points compared to the first edition. A clear improvement was also made in the participation of rural areas and small towns, reaching 69% of beneficiaries, with balanced regional representation throughout the Kingdom.
In addition, 76% of the 11,200 winners are young, which aligns perfectly with the initial mission of “Forsa” which is to encourage entrepreneurship among young Moroccans. In terms of legal form, the status of Self-employed represented 70% of candidates’ choices in 2023.
If the number of projects financed is linked to the budget envelope, the training has benefited 54,000 project leaders in two years.
The e-learning training on the digital platform ”Forsa Academy” focused on 10 modules to demystify entrepreneurship and equip learners, even those who have not reached the financing stage, to develop their ideas and start entrepreneurship approaches (support in choosing the legal form, setting up a reliable Business Plan, etc.), thus opening up opportunities for them with other available state or private initiatives.
the “Forsa” program is committed to offering post-financing monitoring to its 21,200 beneficiaries over a period of 2 years, with the aim of promoting their growth, creating more jobs and inspiring others. young entrepreneurs to launch into entrepreneurship.
Interview Between Time.news Editor and Entrepreneurship Expert
Editor: Welcome to Time.news! Today, we’re diving deep into the success of the “Forsa” program, which has made significant strides in fostering entrepreneurship among young people. Joining us is Dr. Sarah Amin, a noted expert in entrepreneurship development. Sarah, thank you for being here!
Dr. Amin: Thank you for having me! It’s great to discuss such an impactful initiative.
Editor: The “Forsa” program has reported financing for over 21,200 project leaders and creating more than 40,000 jobs in the formal sector. What do you think are the key factors contributing to this success?
Dr. Amin: It’s quite remarkable! The success of “Forsa” can be attributed to a few key aspects. Firstly, the program tapped into a strong desire for entrepreneurship among youth, evidenced by the staggering 300,000 applications received across its editions. This clearly indicates that young people are eager to embark on their entrepreneurial journeys when given the right support.
Editor: That’s insightful! The program also managed to exceed its initial objective by financing an additional 1,200 projects this year. What does this say about the strategic planning behind “Forsa”?
Dr. Amin: This is a testament to effective planning and execution. The ability to optimize budgets and leverage existing resources is crucial in any development program. This allows for flexibility and responsiveness to the needs of aspiring entrepreneurs. The enthusiasm generated since its launch in 2022 shows that the program has resonated well with its target demographic.
Editor: Indeed, enthusiasm seems to be a recurring theme with “Forsa.” How important is it for programs like this to cultivate motivation among participants?
Dr. Amin: Cultivating motivation is vital. Entrepreneurship can be a daunting path, and motivation helps individuals overcome challenges. By providing not just financial support but also a sense of community and validation, “Forsa” is empowering young people to persist in their entrepreneurial pursuits. This positive psychological impact can be just as important as the funding itself.
Editor: What additional support do you think is necessary for young entrepreneurs beyond financing, which “Forsa” seems to provide well?
Dr. Amin: Great question. While financing is a major hurdle, young entrepreneurs often need guidance as well. Mentorship programs, networking opportunities, and access to training resources can greatly enhance their chances of success. Additionally, support in understanding market dynamics and developing business strategies is crucial.
Editor: It appears that “Forsa” has the groundwork laid out to not only finance projects but also potentially expand the influence of its initiatives. What do you envision for the future of such programs?
Dr. Amin: I envision a future where programs like “Forsa” evolve to become holistic ecosystems for young entrepreneurs. This could include integrating technology, providing platforms for collaboration, and forging partnerships with established businesses to mentor new entrants. As they expand, their influence could lead to a robust entrepreneurial culture that boosts the economy at large.
Editor: That sounds promising! Lastly, if you had a message for policymakers looking to create similar initiatives, what would it be?
Dr. Amin: My message would be to listen to the voices of young entrepreneurs themselves. Understanding their needs and aspirations is critical. Also, ensuring that there’s a mechanism for feedback and continuous improvement within the program will help maintain its relevance and effectiveness over time. Empowering the youth is indeed the key to a prosperous future.
Editor: Thank you, Dr. Amin, for your insights today. The “Forsa” program illustrates how targeted initiatives can yield tangible benefits for young entrepreneurs. We look forward to seeing how this program continues to evolve!
Dr. Amin: Thank you for having me! I’m excited to see where entrepreneurship will take us next.