Station F, the self-proclaimed “world’s largest tech hub” in Paris, last week welcomed an intriguing new resident: the University Mohammed VI Polytechnic (UM6P). This Moroccan institution, fresh from its debut in the Times Higher Education’s Top 500 rankings, isn’t simply setting up a satellite campus. It’s actively hunting. UM6P, through its ‘NextAfrica’ accelerator and venture capital arm UM6P Ventures, has its sights set on a specific, increasingly coveted demographic: the Maghrebi diaspora founder.
These are entrepreneurs of Moroccan, Algerian, and Tunisian origin, often educated and established in Europe or North America, who are now being courted by investors from their homelands and beyond. UM6P’s presence at Station F, a symbolic bridgehead in the heart of European tech, indicates the seriousness of this pursuit. Among the first cohort of ‘NextAfrica’ startups is SenseBioTek Health Care, founded by Nabil Moumane, a Moroccan doctor who has spent two decades in France. His biotech firm, developing non-invasive disease detection through body odour analysis, perfectly embodies the target profile: diaspora expertise applied to a venture with potential regional ties.
This isn’t just a university initiative. Across the Maghreb, a sophisticated game of entrepreneurial “sniffing-out” is underway. Local investors are increasingly attuned to the allure of founders who straddle two worlds. These individuals are perceived as possessing a potent blend of international experience and deep-rooted understanding of the Maghrebi market — a potentially lucrative combination.
Amine Raji, founder of deeptech startup Spore.Bio, is a prime example. A decade after interning at the Moroccan subsidiary of Safran, he ventured out, armed with international ambition and a growing investor confidence. Spore.Bio, now flush with $31 million in funding, is pioneering AI-powered microbiology testing. While not physically rooted in Morocco, Raji’s success story resonates deeply, illustrating the powerful magnetic pull of diaspora talent and their enduring connection to their home ecosystems.
A similar story emerges from Journify, an AI-powered, privacy-first data activation startup co-founded by Moroccans Taoufik El Jamali, Omar Al Shoubaki, and Amine Chouki. CEO El Jamali, a serial founder with three decades in the diaspora, launched Journify in 2024. Yet, the startup, whose privacy-focused data activation solutions power global giants like TikTok and Google, maintains a core operational presence in Morocco. This “local-to-global” model, where regional expertise fuels international scaling, is becoming a defining characteristic of this new wave of Maghrebi startups.
Journify is following in the footsteps of successful predecessors. Paris-based Expensya, an expense management software firm with a significant Tunisian workforce, was recently acquired. Ireland-headquartered Nuitée, boasting a substantial operational base in Casablanca, recently secured a $48 million Series A round, attracting a who’s who of global tech luminaries as investors.
The investor landscape is actively adapting to this evolving dynamic. MITC Capital, manager of Maroc Numeric Fund II, broadened its investment mandate in 2023 to explicitly target startups founded by Moroccans abroad. Their recent backing of Paris-based Upfund (real estate data) and CleanMob (sustainable mobility), all founded by Moroccans, highlights this strategic shift. The pursuit of Maghrebi founders intensified last year when a consortium of Maghreb-based investors — including Al Mada Ventures, CDG Invest, UM6P Ventures, and Kalys VC — collectively invested $2.4 million in seed funding into Userguest, an Amsterdam-based hotel management software startup with Moroccan roots.
This “diaspora chase” is undeniably fueled by recent blockbuster exits. In 2023, Tunisian entrepreneur Karim Beguir made headlines when Instadeep, the AI-powered startup he co-founded with fellow Tunisian Zohra Slim, was acquired by German vaccine maker BioNTech in a landmark deal valued at approximately $680 million. The acquisition, aimed at enhancing BioNTech’s drug discovery capabilities and personalized cancer treatments, remains one of Africa’s largest startup exits to date. Shortly thereafter, Expensya, founded by Tunisian entrepreneurs Karim Jouini and Jihed Othmani, was acquired in a deal reported to exceed $100 million. These acquisitions hint at the potential for Maghrebi talent to generate global impact and returns.
These success stories are not merely about financial windfalls. They signal a potential shift in the Maghrebi brain drain narrative towards a more nuanced “brain circulation.” Founders are building globally relevant businesses while consciously leveraging regional talent pools and expertise. This strategy resonates deeply with investors seeking both impact and returns in often-overlooked markets.
However, this courtship isn’t without its complexities. Some might argue that investors are simply ticking boxes — diversifying their portfolios by tapping into a perceived “emerging market” narrative while benefiting from the potentially lower operational costs in the Maghreb. For years, Maghrebi economies lamented the exodus of their brightest minds. For instance, over 3,000 young IT engineers are estimated to leave Tunisia yearly for Europe, where wages can be up to 2.5 times higher. Now, it seems, these individuals are actively — and perhaps opportunistically — seeking to capitalize on the successes forged abroad.
The long-term impact of this “local-to-global” model is yet to be determined. Questions remain about whether these diaspora-led ventures will genuinely drive sustainable growth in Maghrebi economies or simply operate as geographically dispersed businesses with limited local impact. The risk of a “virtual brain drain” — where talent stays in the region but primarily serves global markets — is a also significant concern.
Nevertheless, the current enthusiasm is undeniable. Investors are betting that Maghrebi diaspora startup founders represent a unique value proposition — a bridge between continents, cultures, and markets. It remains to be seen if this “chase” will evolve into a mutually beneficial partnership or remain merely transactional. For now, however, the Mediterranean startup scene is witnessing a new gold rush, driven by the allure of talent that has travelled far, but is now being called home, virtually or otherwise. The outcome of this pursuit will undoubtedly shape the future trajectory of innovation and investment in the Maghreb for years to come.