Thursday, July 7, 2022
Thursday, July 7, 2022
Home Startups develoPPP Ventures to grant up to 100,000 euros to startups in Ghana & East Africa for suitable growth

develoPPP Ventures to grant up to 100,000 euros to startups in Ghana & East Africa for suitable growth

by James Musoba
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develoPPP Ventures is looking for Ghana, Kenya and Tanzania-based startups to apply for a grant of up to 100,000 euros in a move expected to help grow the ecosystem and help teams develop innovative business models with a sustainable economic, ecological or social impact in developing or emerging economies.

The applications can be send here while experts or investors can fill out this recommendation form. To be eligible a startup has to be privately owned and profit-oriented. Have achieved the proof of concept, have a viable business and financial plan, can provide at least one annual financial statement and convince other financiers of its business model.

Startups are also expected to have high growth potential and reach break-even within a maximum of three years and have have acquired up to a maximum of € 2 million in funding to date and are registered in Kenya or Tanzania or plan to be before the start of funding. Ghana operations are also set to open to the public and other countries will follow later.

develoPPP Ventures, via a matching-funds model with the German Federal Ministry for Economic Cooperation and Development (BMZ) provides a grant of up to 100,000 euros for suitable growth investments.There is up to 100,000 euros grant financing for investments to scale and 50 percent funding of the total investment. With develoPPP Ventures funding, the BMZ aim is to scale innovative solutions in order to make them accessible to more people. The BMZ supports the scaling of suitable business models with a grant of up to 100,000 euros if your company manages to acquire matching funds from other sources of at least the same amount. In addition, your start-up will receive local technical support. Women-led start-ups and start-ups promoting gender equality are especially encouraged to apply.

The program is run on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), implemented by KFW DEG, supported by Seedstars. Women-led start-ups and start-ups promoting gender equality are especially encouraged to apply.

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