Are you an innovative startup in Kenya, Ghana and Tanzania that is looking for funding to scale your business? If so, you need to apply for the Developpp Venture Ideas Competition grant that is offering EUR 100,000 to support the young companies to scale innovative business models that create positive impact and contribute to achieving the Sustainable Development Goals.
The programme is conducted by one of the two implementing partners, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH through funding from the German Ministry for Economic Cooperation and Development (BMZ).
You may also check: Google 1000 Scholarships for Business Owners in Kenya 2022
Participation Requirements for Developpp Ventures Ideas Competition
- Your Company is registered in the target country or plans to register there prior to the co-financed growth investment.
- You are pursuing and innovative business model and are already generating initial revenues (prove of Concept).
- Your business model has high development relevance and scalability and contributes to achieving the Sustainable Development Goals (SDGs).
- The company should not have acquired more than a maximum of €2 million in funding to date
- The company is privately owned and profit-oriented
- A viable business plan and a financial plan
Funding Condition for the Developpp Grant
- DEG and GIZ provide grant co-financing of up to EUR 100,000 (and a top-up of EUR 100,000 for successful Ventures in a potential second phase)
- Matching funds equaling the amount of the grant financing must be provided by the company in the form of cash injection (from sponsors, investors); At least half of these required matching funds need to be injected as fresh equity
- The use of funds takes place in the country where the company is registered, Ghana, Kenya 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)
How to Apply for the Developpp Venture Ideas Competition
To apply for the grant, here is what you need to do:
- Visit the website to learn about the grant and conditions.
- Download the conditions of participation here.
- Download the application form for your specific country.
- Fill in the form explaining clearly what your company does and why you should be selected for the grant funding.
- In Kenya Download Developpp Venture Application form here.
- For Ghana, Download Developpp Venture Application Form Here
- For Tanzania, Download Application form here.
- Send the completed application form to email@example.com for Kenya and Tanzania and firstname.lastname@example.org for Ghana.
- Wait for the evaluation process and feedback from the implementation partners
Application deadline for Developpp Venture Ideas Competition
Applications for the funding happen twice a year with deadlines for submission for this year on 30th June 2022 and the second batch by 31st December 2022.
- The initial selection is made based on the application forms that can be handed in during the Ideas Competition (with deadlines 30.06.2022 and 31.12.2022)
- 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/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.)
The selection process for develoPPP Ventures is supported by local experts. In Ghana by the business accelerator and impact investment specialist Innohub (Innohub Growth Centre, Ghana) and in Kenya and Tanzania by impact investment specialist Seedstars (Jarana SA, Switzerland) and business incubator Nailab (Nailab Accelerator Ltd., Kenya.