(News Bulletin 247) – Morgan Stanley announced on Monday that it had chosen France for the purpose of setting up an incubator for start-ups created and run by women and entrepreneurs of multicultural origins.
As part of this program, called ‘Inclusive Ventures Lab’, the American investment bank says it is looking for a dozen young start-ups to invest in and offer them strategic support.
The idea, explains the Wall Street firm, aims to make up for the lack of financing which, according to it, benefit the creators of companies with diversified profiles.
During 2023, the ‘MSIVL’ project will be called upon to identify 10 early-stage companies selected from applications submitted across Europe, the Middle East and Africa.
They will be invited to participate in a five-month program, designed to accelerate the growth of each start-up.
Five companies were selected last year to be part of the first MSIVL cohort, which will now be doubled in size.
This year, it is France that will be specifically targeted as a source of applications, Morgan Stanley saying that it sees France as “a leading growth center” for start-ups.
“The country also has a large pool of talented women and entrepreneurs of multicultural origins,” said Emmanuel Goldstein, Managing Director of Morgan Stanley France.
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