Apply for The develoPPP Ventures Ideas Competition 2023 for African Entrepreneurs

DEG Impulse gGmbH and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH with funds from the German Ministry for Economic Cooperation and Development (BMZ), support young companies to scale innovative business models in Ghana, Kenya and Tanzania that create positive impact and contribute to achieving the Sustainable Development Goals (SDGs).

Suitable start-ups to be funded through develoPPP Ventures are selected during an open ideas competition. This takes place twice a year and is open to all start-ups that meet the conditions for participation. Depending on the target country, the funding contract is concluded with one of the two implementing partners, DEG Impulse gGmbH or Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.

The develoPPP Ventures ideas competition takes place twice a year for six weeks at the end of each quarter (June and December). 

Requirements

• 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

Funding Conditions

• DEG Impulse 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)

Selection Process:

• The initial selection is made based on the application forms that can be handed in during regular ideas competitions (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,

For More Information: Visit the Official Webpage of the develoPPP Ventures Ideas Competition 2023. Application Deadline: December 31st, 2022