Just two weeks after its announcement, the latest call for applications by develoPPP Ventures has gained significant attention. This initiative stands as a pivotal opportunity for Ghana’s innovative startups to boost their growth and positively impact local communities, with selected companies eligible for up to EUR 100,000 in funding to scale their innovations.
Call for Applications: Open to all eligible growth-stage startups
develoPPP Ventures is implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, acting on behalf of the Federal Ministry for Economic Cooperation and Development (BMZ). Through annual and bi-annual calls for applications in Kenya, Nigeria, Ghana, and Tanzania, develoPPP Ventures welcomes all startups that meet the eligibility criteria. The initial selection is based on idea competitions, leading to a pitch event. Successful companies undergo due diligence before a contract is concluded, and funds are disbursed.
This time, the initiative targets young, dynamic growth-stage companies in Ghana with innovative business models aimed at positively impacting local communities and ready for scaling. Special emphasis is placed on women-led startups and those promoting gender equality, aligning with the 2X Challenge criteria.
Deadline for the submission of application is March, 31 2024
Key Participation Requirements
- Registration Requirement: Be registered in Ghana or plan to do so before receiving investment, with at least one annual financial statement provided.
- Innovative Business Model: Showcase a viable business model with a relevant product or service already on the market, generating initial revenues (proof-of-concept).
- Matching Funds: Provide evidence of commitment or investment from other investors equaling the amount of the grant financing (EUR 100,000 in this case).
- Business Plan: Submit sound financial and strategic business plans covering a 3-year period, outlining how the funds will be utilized for growth and achieving break-even.
- Development Relevance and Scalability: The business model should demonstrate significant development relevance, scalability, and contribute to achieving the Sustainable Development Goals (SDGs).
Why Apply to develoPPP Ventures Ghana
Eligible businesses from Ghana can benefit from the following:
- Visibility: Tap into the extensive network and expertise of develoPPP Ventures partners.
- Financial Support: Access up to EUR 100,000 in grant financing for scaling efforts.
- Technical Assistance: Receive tailored support to maximize your chances of success.
How to Participate
Interested companies are invited to visit https://www.developpp.de/en/application/ventures for detailed participation conditions and application submission.
The post develoPPP Ventures Idea Competition gains momentum appeared first on The Business & Financial Times.
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