BlueInvest Africa 2024
Atarec Morocco success story
"BlueInvest Africa is a game-changer!”
Oussama Nour, co-founder of Moroccan start-up Atarec, led the way as the first pitcher at BlueInvest Africa. In September 2022, he showcased Wave-beat, his innovative wave-powered generator project, at the inaugural event in Seychelles, marking a rewarding and insightful experience.
What motivated your participation in BlueInvest Africa 2022?
Atarec attempted to join BlueInvest Europe without success. Upon learning about the launch of BlueInvest Africa, we saw it as an opportunity to connect with other project owners and European investors interested in Africa's blue economy.
How did you prepare for the event?
Upon selection, we engaged in around ten personalized coaching sessions via videoconference to refine our pitch for the big day. These sessions were invaluable, offering an external perspective and relevant insights to enhance our presentation skills. BlueInvest Africa provides a crucial platform for improvement.
What did the coaching involve?
Coaches provided feedback on presentation structure, suggesting areas to focus on and omit. They emphasized getting straight to the point regarding investor expectations: the amount and the objective.
What transpired once you arrived?
In the Seychelles, a day or two before the event, coaching sessions continued in the designated room. Here, we met other project leaders selected for the event, a delightful surprise as they hailed from diverse African countries. BlueInvest Africa stands out for providing a unique opportunity to connect with individuals from across the vast African continent.
Were there interactions among project owners?
Certainly. Conversations spanned business and culture, offering insights into the varied cultures and mentalities across the continent. Maintaining contact with SeaH4, a South African project leader, has resulted in a fruitful business relationship. Both Atarec and SeaH4 won the EDF Pulse Africa prize in their respective countries, and we look forward to meeting again in Paris for the final.
What do these business relationships involve?
For startups navigating their launch, the goal is to explore opportunities for partnerships, leveraging each other's expertise within the blue economy framework. Discussions center around investor strategies, exchanging expertise and experiences. While it's challenging to achieve substantial progress in just a few days, valuable contacts have been established and are ongoing.
How did your pitch go?
Being the first to pitch after speeches by the President of the Republic of Seychelles and the Director-General of the European Commission's DG MARE added some pressure. However, I enjoyed the presentation, focusing more on sharing Atarec's project with the audience and gauging interest from potential partners. It went exceptionally well.
What did you gain from participating in BlueInvest Africa?
The primary outcome was heightened visibility. Winning the Best Pitcher award in our category led to a significant increase in views on Atarec's LinkedIn page and my personal page. It greatly enhanced our credibility and speaks volumes to investors and energy developers. Winning a prize at BlueInvest Africa truly makes an impact.
What are the tangible results of this boost?
Coastal municipalities, ports, islands, and hotels have reached out to us. While certification for our pilot project is pending, indicating practical application readiness, the demand is evident. The visibility from BlueInvest Africa has opened doors to other events like the Atlantic Africa Start-up Forum and CES-Vegas, and garnered interest from international media, including CNN, Al Jazeera, and BBC World.
How has your project evolved since BlueInvest Africa?
We are in negotiations for the second round of funding, gearing up for our initial commercial development. Our focus is on finding a long-term partner who can not only enhance the startup's value but also provide sustained support throughout its various phases.