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1.0          Overview

Mauritius provides a reliable and attractive start-up ecosystem with the availability of good technical and business schools, a critical mass of people eager to start own business, co-working spaces, a supportive government, angel investors and the talent needed to turn ideas into viable businesses.

Owing to its strategic position, Mauritius is today considered to be the ideal springboard and a great location for entrepreneurs aiming to enter the African continent.  The country has implemented numerous measures to optimize conditions for technology start-ups and also emerge as the start-up hotspot in the region.  The launch and further development of a new enterprise is facilitated by numerous incubators, funding and promotion schemes.

In the recent 2018-2019 budget speech, provision was made to increase the ceiling of training refund from 60% to 75% for Small and Medium Enterprises as an incentive to upgrade the skills of their employees. Moreover, the launch and further development of a new enterprise is facilitated by numerous incubators, funding and promotion schemes.

2.0        Incentives for startups in Mauritius

Financing is one of the most important issues involved in setting up a startup and Mauritius offers a comprehensive system of public funding.

The most important funding sources in Mauritius are SME Mauritius and Maubank. They offer non-repayable grants, guarantees or subsidized loans. Recently, the Economic Development Board (ex BOI) granted licence, the first licence for crowdlending, which is a new and alternative method for SMEs and startups to raise finance without the inclusion of a financial institution. With the entrance of this alternative financing method, a new breed of small investors will eventually enter the capital market. Angel Investors, on the other side, provide startups with seed money in exchange for an equity stake in the company. The idea here is that once the company becomes profitable, the angel investor can sell their shares for a profit.

Funding and Assistance

SME’s can apply for funding and assistance to various sources of Government finance & support namely through business or technology incubators, tax benefits, innovation loans and grants and support programs.

The table below provides an overview of some of the flagship initiatives currently being managed by some of the key institutions of the industry including SME Mauritius, Mauritius Research Council and Development Bank of Mauritius, Maubank- Mauritius Bank and State Bank of Mauritius amongst others, to promote the growth, development and internationalization of SMEs.

Additional information available on link

 

Procedures to starting a business in Mauritius

For starting a business in Mauritius, a company must register with the Registrar of Companies and Businesses and the incorporation procedure takes a minimum of 2 hours.

For detailed guidelines from setting up a domestic or an offshore company to occupation Permit and other pertinent information for carrying out business in Mauritius.

Kindly consult our doing business page for the detailed guidelines,  http://www.edbmauritius.org/getting-started/.

Facilities available

Several options are available. Here are some of them:

  1. SME Parks

The Landscope Mauritius Ltd (Ex-SLDC) has been vested with the responsibility to construct 175 SME units across the country. The SME units including La Tour Koenig, La Valette, Roche Bois and Coromandel are ready for renting at preferential rates of Rs10 monthly rent per sq. feet of the leased space for the 1st year, Rs11 for the second year and Rs12 for the third year for the ground floor.  For the first and second floor, the monthly rates are Rs8 per sq. feet for the first year, Rs9 for the second year and Rs10 for the third year.  

  1. Business incubators / Co working spaces

In a view to allow independent workers and entrepreneurs to run a successful business and maintaining a professional career, the country offers numerous co-working spaces for budding entrepreneurs, remote workers, and freelancers. An indicative list is available below:

Incubator

Brief Description

Contact details

Turbine

 

The Turbine co-working space enables entrepreneurs to be part of a community and provides them with a platform to network, to rent an affordable and professional space.

 

Mrs Diane Maigrot

diane@turbine.mu

Co working Port Louis

 

Co working Port Louis is spread over two beautifully preserved colonial houses (dating from the 18th century) connected by a large cobblestone courtyard. The Co working space allows entrepreneurs to rent private offices (ranging from 2 to 6 positions) and single desks in an open space under simple month-to-month contracts.

 

It also offers fully equipped conference rooms, chill-out outdoors lunch / meeting tables, fully functional “grandma’s” kitchen and bike-sharing facilities.

 

Mr Anibal Martinez: Anibal.martinez@blackriverpartners.com

 

Mr Michel Cordani: michel@dinacor.biz

Co working IBL (The Ground Co Working Space)

 

The Ground provides more than 100 office seats in a modernized industrial area, with a comfortable open-space, private offices and meeting rooms that all members can use for free.

hello@theground.mu

French Hub

 

The French Hub provides professionals/individuals with a business centre and co-working space comprising an area of 1,500 square meters including 45 individual offices with an access to a terrace of 200 square meters.

 

contact@lefrenchhub.com

Anglo African Ventures

AAV can assist the start-up in a number of ways to ensure that the Proof of Concept is developed at an optimal speed and in conjunction with discussions with potential clients.

This includes but is not limited to:

  • Office Space
  • Assistance of Developers, Designers and Analysts from within AAE
  • Financial Support

 

Mrs Sangeeta Teeluck

Sangita.teeluck@angloenterprises.com

Verde Ventures Ltd

Verde Ventures Ltd partner with entrepreneurs (early stage to late stage) to accelerate their growth and commercialize innovative ideas.  They provide:

·         Financing

·         Networking

·         Partnership

·         Office and infrastructure

·         Exposure and media presence

Mr Dirish Noonaram:

dnoonaram@verdefrontier.mu

The Hive

The Hive is an alternative place to work besides the official office or the home office. Located in St Pierre, Curepipe, Cap Tamarin and Port Louis, the coworking spaces provide start-ups, freelancers with a stimulating environment where they can focus on accomplishing meaningful tasks and meetings.

 

Mrs Daphné Rouillard

daphne@thehive.mu

 

In the last budget speech, the Prime Minister also announced the creation of a:

  • High Tech Park at Cote D’Or
  • Logistic Park at Riche Terre and
  • Pharmaceutical and life sciences park at Rose Belle

 

Other key related bodies:

  • SME Mauritius

Address: Pope Henessy Building 25, Pope Henessy Street Port Louis

Tel: (230) 2020040 

Fax: (230) 2125765

Email: info@smemu.org

 

  • Mauritius Research Council (MRC)

Address: 6th Floor, Ebene Heights 34, Cybercity Ebene 72201

Tel: (230) 465 1235

Fax: (230) 465 1239

Email: mrc@intnet.mu

 

  • Ministry of Business, Enterprise and Cooperatives (Business & Enterprise Div.)

Business and Enterprise Division

Address: 16th Floor Newton Tower, Sir William Newton Street Port Louis

Tel: (230) 405 3100

Fax: (230) 213 9176

Email: mbe@govmu.org