Ventures Ideas Competition // Apply by 31st December

Ventures Ideas Competition // Apply by 31st December

Are you a start-up owner looking for growth funding for your start-up? Is your start-up based in Kenya, Ghana, or Tanzania? Well, here is a chance for you to apply for the Ventures Ideas Competition before 31st December

Suitable start-ups that meet these criteria will be funded through develoPPP Ventures and will be 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.

Funding conditions

• DEG Impulse and GIZ provide 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, and investors); At least half of these required matching funds need to be injected as fresh equity.
• The use of funds takes place in the country where the company is registered, Ghana, Kenya, or Tanzania (the conclusion of the 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).

Eligible companies

• The company is registered in Ghana, Kenya, 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.
• The company is operative and has generated its first revenues from operating activities (Proof of Concept).
• The company should not have acquired more than a maximum of €2 million in funding to date.

Your application to the develoPPP Ventures ideas competition

The develoPPP Ventures ideas competition takes place twice a year for six weeks at the end of each quarter (June and December). Do you meet the conditions of participation (PDF) and would like to apply for funding? Here’s how:

• Select target country
• Submit a completed application via the develoPPP application platform

Each application will first be evaluated on the basis of consistent and transparent criteria.

If your application is successful in the competition, you will be given the opportunity to pitch to the decision-making committee of DEG Impulse and GIZ.

The best candidates will then undergo an on-site review (due diligence), which, if successful, will be followed by a funding contract.

If this sounds interesting get more information here and apply before 31st December. All the best!