DEVELOPPP Ventures Ideas Competition: Apply Now for Growth Funding for Your Start-up!

Deadline: 30-Jun-23

Applications are now open for the DEVELOPPP Ventures Ideas for growth funding for your start-up.

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.

Programme Objective

• 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).

Funding Information

• 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)

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)

Eligibility Criteria

• Conditions of participation for ideas competition

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.

Selection Process

• 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.)

For more information, visit develoPPP.