Deadline: June 30, 2023
Applications are open for the develoPPP Ventures Ideas Competition 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).
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.
- 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 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.
- 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 job
For more information, visit develoPPP Ventures Ideas Competition.