DeveloPPP Ventures Idea Competition: Funding for Startups in Kenya, Nigeria, and Tanzania

Closed Not funding

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Applications closed on November 2, 2024. Continue your search among the opportunities that are still open:

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Opportunity details

Nonprofit organization
DeveloPPP Ventures
Deadline
Opportunity type
Competitions
Opportunity funding
Not funding
Eligible Countries
This opportunity is destined for all countries
Eligible Region
All Regions

Description

The DeveloPPP Ventures Idea Competition conducts a semiannual open call for applications to identify eligible startups for funding. All startups meeting the participation criteria are encouraged to apply. The funding contract, based on the target country, is subsequently established with either DEG Impulse gGmbH or Deutsche Gesellschaft für International Zusammenarbeit (GIZ) GmbH, the two implementing partners.

Funding for DeveloPPP Ventures Idea Competition

DEG Impulse and GIZ provide grant co-financing of EUR 100,000 (and a top-up for successful Ventures in a potential second phase)

  • The company must receive matching funds equaling the amount of the grant financing in the form of cash injection from other investors. Matching funds can be considered if received up to 6 months prior to the application and still available for the develoPPP Ventures investment. The external capital must have been received at the latest by the time of disbursement of the develoPPP Ventures funds. Companies should therefore be in advanced discussions with investors around securing financing within the next six months.
  •  The use of funds takes place in the develoPPP Ventures target country, in which the company is registered (conclusion of contract will only be
  •  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)possible with a locally registered entity)

Eligibility requirements

  • The company is registered in the target country 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 is available
  • The company is operative and has generated first revenues from operating activities (Proof of Concept)
  • The company should not have acquired more than a maximum of EUR 2 million in funding to date.

Assessment criteria

Innovation: The business model is innovative with regard to the target country

Scalability: The company has a high growth potential due to the size of the market and the target group

Financial Sustainability: The break-even point will be reached timely (maximum within 3 years)

Adequate Management: The company has the necessary expertise as well as management capacity and human resources to substantially scale its business

Developmental Impact:

  • The business model has a significant developmental relevance
  • The impact is measurable, i.e. positive effects on the target groups
  • The company is contributing to reaching the SDGs by increasing local income, saving natural resources, improving access to resources and services, and creating decent job

Selection process for DeveloPPP Ventures Idea Competition

  • The initial selection is made based on applications that can be submitted during regular calls for applications
  • Women-led start-ups and start-ups promoting gender equality are especially encouraged to apply (refer to the criteria of the 2X Challenge)
  • Companies passing this first stage will be invited to pitch in front of the DEG Impulse/GIZ selection committee
  • Due diligence will then be performed on successful companies, during which more detailed information is evaluated (incl. the business plan and financial projections (for at least 3 years), information on other investors and potential customers, etc.)

Current target countries

  • The current develoPPP Ventures call for applications (November 15 to December 31) is open in Kenya, Nigeria and Tanzania

How to apply

Applications are closed for this edition. See the similar open opportunities below.

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