develoPPP Ventures Ideas Competition 2023: Apply now for growth funding for your start-up. Apply below.
When is Application Deadline: 30th June 2023
Tell Me About Award: Suitable start-ups to be funded through develoPPP Ventures are 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.
Get Up to $100,000 Student Loan for Your Master in US or Canada - Apply before 31 December 2024 to get as low as 9.99% interest rate
Type: Entrepreneurship
Who can Apply?
- Your company is registered in the target country or plans to register there prior to the co-financed growth investment
- You are pursuing an innovative business model and are already generating initial revenues
- Your business model has high development relevance and scalability and contributes to achieving the Sustainable Development Goals (SDGs)
The complete conditions of participation for the develoPPP Ventures ideas competition can be found HERE
How are Applicants Selected? Applications for develoPPP Ventures go through a multi-stage selection process. First, a selection is made on the basis of the application documents and pitches. The companies that are successful in this phase are then reviewed as part of the due diligence process, for which more detailed information is evaluated (i.e. the business plan including financial projections (for at least 5 years), annual financial statements, information on other investors).
Which Countries are Eligible? African countries
How Many Awards? Not specified
What is the Benefit of Award?
- DEG Impulse and GIZ provide grant co-financing of up to 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 country where the company is registered, Ghana, Kenya, Nigeria or Tanzania (conclusion of contract will only be possible with a locally registered entity)
How to Apply: 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.
Visit Award Webpage for Details
