DeveloPPP Ventures intends to empower entrepreneurs with entrepreneurial support and a grant of up to €100K for expansion investments on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), administered by DEG Impulse, and backed by Seedstars.
DeveloPPP Ventures intends to build on the accomplishments of its prior fundraising rounds with its fourth cohort.
The open call is extended to Kenyan and Tanzanian businesses with ground-breaking business plans that will have a positive economic, environmental, or social impact in these nations.
The initiative notably invites women-led firms and startups advocating gender equality to apply, in accordance with BMZ’s focus on female empowerment.
Since the fund is intended to support growth investments, entrepreneurs submitting an application should have demonstrated their concept and be prepared to scale. Startups who want to take part in the program must meet the requirements listed below:
- A privately owned, profit-oriented company must be registered in Kenya or Tanzania (or be in the process of doing so prior to funding)
- It must have proof of concept and a workable business and financial plan
- It must be able to provide at least one annual financial statement
- It must have high growth potential and be able to potentially break even in three years
- And, if previously funded, it must have only acquired up to 10% of the business
The 25-company develoPPP Ventures portfolio has recently expanded to include firms offering cutting-edge solutions in the fields of health (Zuri Health) and agriculture (AgriBora), e-mobility (Kiri EV), social commerce (Shukiba), and digitalization (Brrng).
There is no question that social and ecological change is both conceivable and is taking place because we come across so many inspiring answers to regional and global problems.
The essence of our program is to assist the most significant businesses in navigating the valley of death so they may expand their audiences and draw in additional investors. DEG Impulse’s Julia Stausberg-Umuerri.
How to apply
You can visit here to learn more about the program and its terms.
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