Deadline: 31-Aug-20
The FRAGG Impact Growth Accelerator Programme (FIGAP) is an initiative structured, in partnership with the African Guarantee Fund, to close the funding gap for SMEs in West Africa, by providing support to companies and projects in the impact and climate sectors that are at expansion stage, in order to prepare them for the financing needed to scale.
FIGAP is designed as a business development programme to provide support to participants with business strategies, growth and scalability tools required to become investment ready. The programme serves to facilitate enhanced access to finance needed to scale-up and build a successful lasting business structure.
The programme will culminate in a networking event with investors, business leaders, and corporate decision–makers in order to foster interaction with prospective investors.
Area of Interest
- Inclusive Finance & related FinTech Services
- Agriculture
- Healthcare & related services
- Affordable Housing
- Climate Finance
- Education
What to Expect
- Business Assessment: An accelerated proposal assessment programme to help determine suitability of your business for financing
- Company Support: Tailored support in capacity building, and preparing a clear plan of how to scale and access capital
- Mentorship: Access to mentors and industry experts to offer advice
- Investment Support: Access to a pool of potential financiers and investors, with support in identification of, access to and engagement with potential and relevant investors. Additionally, an opening for provision of African Guarantee Fund (AGF) guarantee, and access to funding from the FRAGG Impact Fund.
Eligibility Criteria
- The management is seeking per cohort, 20 ambitious, innovative, and growth-stage impact businesses who are committed to combining financial returns with discernible social and/or environmental impact.
- Businesses must:
- For-profit, post-revenue business seeking a minimum of 250,000 USD as growth-funding.
- Have at least 75% of its activities in West Africa (applications from Nigeria, Benin, and Togo will be prioritised).
- Have existed for at least three years.
- Have a full-time dedicated, diverse and inclusive management/staff with reasonable ratio of women and youth.
- Have a scalable and innovative social impact business.
- Have a turnover of at least 1 million USD.
- Be open to raising external investment.
For more information, visit https://www.fragginvest.com/accelerator-programme/