Deadline: 15-Jul-21
Suitable start-ups to be funded through develoPPP Ventures are being selected during an open ideas competition. 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.
DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, with funds from the German Ministry for Economic Cooperation and Development (BMZ), supports young companies to scale innovative business models that create positive impact and contribute to achieving the SDGs in Kenya.
The develoPPP Ventures funding is aimed at young companies that want to further expand their business model in the respective country. A legal entity must be registered locally by the time the contract is concluded at the latest. The funding contract can only be concluded with a local company. The funding is provided for the growth strategy in the respective country and is to be used in the country.
Funding Condition
- 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).
- Your start-up must be privately owned and profit-oriented and must be registered in the target country or register there prior to the funded growth investment. Your business model has high development relevance and scalability and thus contributes to the achievement of the Sustainable Development Goals (SDGs).There must be Proof of concept and initial revenues must have been generated.
- 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.
For more information, visit https://www.developpp.de/en/application/ideas-competition-ventures