Thursday, May 26, 2022

Applications are now open for develoPPP Ventures ideas competition 2021.

Suitable start-ups to be funded through develoPPP Ventures are being 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. 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.

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

 Benefits

  • 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.

 Eligibilities

  • 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 (Proof of Concept)

Application Deadline: July 15, 2021

CLICK HERE TO APPLY

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