Deadline: December 31 2022
Applications for the Developpp Ventures Ideas Competition currently open. Immediately submit an application for startup expansion finance.
Through an open Ideas Competition, suitable start-ups for DeveloPPP Ventures funding are chosen. All start-ups that meet the requirements can participate in this twice a year event. The financial agreement is made with either DEG Impulse gGmbH or Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, depending on the target nation.
Funding requirements
- Up to EUR 100,000 in grant co-financing is offered by DEG Impulse and GIZ (with an additional EUR 100,000 available for ventures that are successful in a potential second phase).
- The company must provide matching funds in the form of cash infusion (from sponsors, investors) in an amount equal to the grant financing; These necessary matching funds must be at least partially infused as new stock.
- The investment proposal is financially sound, and the purpose of funding is clearly defined.
- Entirely commercial financing of the investment project is not currently possible.
- The use of funds takes place in the country where the company is registered, such as Ghana, Kenya, or Tanzania (conclusion of contract will only be possible with a locally registered entity) (subsidiarity)
Eligibility
- The company is registered in Ghana, Kenya or Tanzania OR plans to register there prior to the investment
- The company is privately owned and profit-oriented
- At least one annual financial statement is provided
- A viable business plan and a financial plan
- The company is operative and has generated first revenues from operating activities (Proof of Concept)
- The company should not have acquired more than a maximum of €2 million in funding to date
Selection
- Select target country
- Submit a completed application via the develoPPP application platform
- Each application will first be evaluated on the basis of consistent and transparent criteria.
- If application is successful in the competition, your given the opportunity to pitch to the decision-making committee of DEG Impulse and GIZ.
- Best candidates will then undergo an on-site review (due diligence), which, if successful, will be followed by a funding contract.
For further information, visit Developpp Ventures
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