Application Now Open for The Developpp Ventures Ideas Competition, Growth Funding For Your Start-Up. Open to companies in Nigeria, Kenya, Ghana etc.
Deadline: 30 June 2023
DEG Impulse gGmbH and the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH with funds from the German Federal Ministry for Economic Cooperation and Development (BMZ) support young companies to scale innovative business models in Ghana, Kenya, Nigeria and Tanzania that create positive impact and contribute to achieving the United Nations’ Sustainable Development Goals (SDGs).
Eligible companies
- The company is registered in Ghana, Kenya, Nigeria 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 is available
- 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 EUR 2 million in funding to date
Funding conditions
- DEG Impulse and GIZ provide grant co-financing of up to EUR 100,000 (and a top-up for successful Ventures in a potential second phase)
- The company must receive matching funds equaling the amount of the grant financing in the form of cash injection from other investors. Matching funds can be considered if received up to 6 months prior to the application and still available for the develoPPP Ventures investment. The external capital must have been received at the latest by the time of disbursement of the develoPPP Ventures funds. Companies should therefore be in advanced discussions with investors around securing financing within the next six months.
- The use of funds takes place in the country where the company is registered, Ghana, Kenya, Nigeria or Tanzania (conclusion of contract will only be possible with a locally registered entity)
- The investment proposal is financially sound, and the purpose of funding is clearly defined
- Entirely commercial financing of the investment project is not possible at this point (subsidiarity
READ: How To Register As Vendor/Contractor With Ondo State Government
Assessment criteria
Innovation: The business model is innovative with regard to the target country
Scalability: The company has a high growth potential due to the size of the market and the target group
Financial Sustainability: The break-even point will be reached timely (maximum within 3 years)
Adequate Management: The company has the necessary expertise as well as management capacity and human resources to substantially scale its business
Developmental Impact:
- The business model has a significant developmental relevance
- The impact is measurable, i.e. positive effects on the target groups
- The company is contributing to reaching the SDGs by increasing local income, saving natural resources, improving access to resources and services, and creating decent jobs
Selection process
- The initial selection is made based on applications that can be submitted during regular calls for applications (May 15 to June 30 and November 15 to December 31)
- Women-led start-ups and start-ups promoting gender equality are especially encouraged to apply (refer to the criteria of the 2X Challenge)
- Companies passing this first stage will be invited to pitch in front of the DEG Impulse/GIZ selection committee
- Due diligence will then be performed on successful companies, during which more detailed information is evaluated (incl. the business plan and financial projections (for at least 3 years), information on other investors and potential customers, etc.)
Application and Implementation partner
Applications can be submitted via the develoPPP application platform:
https://application.develoPPP.de
The selection process for develoPPP Ventures is supported by sector experts.
In Ghana by business accelerator and impact investment specialist Innohub
and in Kenya, Nigeria and Tanzania by impact investment expert VC4A.
For further questions, the implementation partners can be reached at:
Ghana/Nigeria: develoPPPVentures@giz.de
Kenya/Tanzania: develoPPPVentures@degimpulse.de
