Deadline: 31-Dec-21
Applications are now open for the develoPPP Ventures Ideas Competition to support young companies to scale innovative business models that create positive impact and contribute to achieving the SDGs in Kenya.
Suitable start-ups to be funded through develoPPP Ventures are being 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. The funding contract is concluded with one of the two implementing partners, DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH and Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH.
Funding Conditions
- DEG provides 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 Kenya (conclusion of contract with the Kenyan 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)
Eligible Companies
- The company is registered in Kenya 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 business plan and a financial plan
- The company is operative and has generated first revenues from operating activities (Proof of Concept)
Participation Requirements
- Your company is registered in the target country or plans to register their prior to the co-financed growth investment
- You are pursuing an innovative business model and are already generating initial revenues (proof of concept)
- Your business model has high development relevance and scalability and contributes to achieving the Sustainable Development Goals (SDGs)
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
For more information, visit https://www.developpp.de/en/application/ideas-competition-ventures/