develoPP Ventures launches €100K grant for startups in Kenya and Tanzania

Ganiu Oloruntade

German government-backed startup programme develoPPP Ventures has announced a €100K funding grant for startups in Kenya and Tanzania to get a chance to scale their impact-driven companies.

develoPPP Ventures is an initiative of the German Federal Ministry for Economic Cooperation and Development (BMZ), implemented by DEG Impulse and supported by Seedstars, a Swiss-based tech startup accelerator. The programme aims to empower startups with entrepreneurial support and a grant of up to €100K for growth investments.

According to a statement shared with Technext on Wednesday, develoPPP Ventures — now on its fourth cohort — 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.

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,” said Julia Stausberg-Umuerri, DEG Impulse. 

Read also: Zenith Bank partners Seedstars to launch nationwide pitch competition for Nigerian startups

How to apply and criteria

Since the grant targets 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.

In line with BMZ’s focus on female empowerment, the program especially encourages women-led startups and startups promoting gender equality to apply. Interested applicants can sign up here before December 31, 2022.

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.

The advisory and promotional funding programs of DEG Impulse provide 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 the German Federal Ministry for Economic Cooperation and Development (BMZ)

Within the German government, the Federal Ministry for Economic Cooperation and Development (BMZ) is responsible for Germany’s development policy. The BMZ’s task is to determine the objectives of German development policy, to negotiate with about 80 partner countries worldwide regarding bilateral cooperation, and to play a part in shaping multilateral cooperation.

The 2030 Agenda for Sustainable Development adopted by the United Nations forms the international framework for Germany’s development policy. A special focus for the BMZ is creating better opportunities in the countries where refugees originate. Other important topics are global food security, sustainable economic development, and climate action. The Ministry has its headquarters in Bonn and Berlin.

The BMZ has some staff seconded to German embassies in its partner countries and international organisations. For the implementation of its projects, the BMZ relies on the following organisations: Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), KfW Group, and Engagement Global – Service for Development Initiatives, among others.

About Seedstars

Seedstars is a Swiss-based private company with a mission to impact people’s lives in emerging markets through technology and entrepreneurship.

startup

The group’s activities cover over 90 emerging ecosystems through various initiatives, such as the FTxSDG Challenge, previously known as the Seedstars World Competition, the largest entrepreneurship competition in emerging markets.

Others include 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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