November 15, 2022 – DeveloPPP Ventures is back with another opportunity for startups in Kenya and Tanzania to get a chance to scale their impact-driven companies and receive a grant investment of up to €100K. Interested applicants can sign up here before December 31, 2022.
On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), implemented by DEG Impulse, and supported by Seedstars, develoPPP Ventures aims to empower startups with entrepreneurial support and a grant of up to €100K for growth investments.
On its fourth cohort, develoPPP Ventures plans to replicate the success of its previous funding rounds. The open call extends to startups in Kenya and Tanzania with innovative business models and a sustainable economic, ecological, or social impact in these countries. In line with BMZ’s focus on female empowerment the program especially encourages women-led startups and startups promoting gender equality to apply.
Since the grant is targeted towards growth investments, startups applying should have achieved a proof of concept and are ready to scale.
Startups who want to participate in the program have to fulfil the following criteria:
● Must be a privately owned and profit-oriented business registered in Kenya or Tanzania (can also be in the process of getting registered in these markets before the start of funding);
● Has achieved proof of concept with a viable business and financial plan;
● Can provide at least one annual financial statement;
● Must have high growth potential and can potentially reach break-even within a maximum of three years; and,
● If previously funded, must have acquired only up to a maximum of € 2 million in funding to
date
The latest additions to the 25 company strong develoPPP Ventures portfolio include companies providing innovative solutions in health (Zuri Health) and agriculture (AgriBora), e-mobility (Kiri EV), social commerce (Shukiba) and digitalization (Brrng).
“We come across so many exciting solutions to local and global challenges to leave no doubt that a social and ecological transformation is possible and already happening. Helping the most impactful startups walk through the valley of death and enable them to reach more people and attract other investors is at the core of our program.”
Julia Stausberg-Umuerri, DEG Impulse.
To sign up or learn more about the program and its conditions, you may visit the website here: www.develoPPP.de/ventures.
ABOUT DEG Impulse
Since 1962, DEG has been financing and advising private companies active in developing and emerging economies. With a portfolio size of 9.2 billion EUR and more than 700 investments in 80 countries, DEG is one of the largest development finance institutions worldwide. Through the advisory and promotional funding programs of DEG Impulse, it provides targeted support towards a socio-ecological transformation in line with the Sustainable Development Goals. DEG Impulse is a wholly owned, non-profit subsidiary of DEG, which is a wholly owned subsidiary of the KfW Banking Group.
ABOUT SEEDSTARS
Seedstars is a Swiss-based private company with a mission to impact people’s lives in emerging markets through technology and entrepreneurship. The group’s activities cover over 90 emerging ecosystems through a variety of initiatives such as the FTxSDG Challenge, previously known as the Seedstars World Competition, which is the largest entrepreneurship competition in emerging markets; Seedstars Programs that are designed to support entrepreneurs in varying stages of growth via training, education, mentoring, and access to resources; Seedstars Academy, a talent incubator providing digital skills and startup-based immersive education for the next generation of changemakers; Seedspace, physical coworking spaces and hubs located in 15 countries; and Seedstars International, a global venture capital fund for seed stage startups. For more information, visit www.seedstars.com.
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