Startups in Kenya and Tanzania have been given the opportunity to grow their impact-driven businesses while receiving a grant investment from develoPPP Ventures of up to EUR100,000 (US$102,000).
DeveloPPP Ventures aims to strengthen businesses with entrepreneurship support and funding on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), administered by DEG Impulse, and backed by Seedstars.
Startups in Kenya and Tanzania are welcome to apply for the open call for the fourth cohort of the program if their business models are creative and have a positive impact on the economies, ecosystems, or social conditions of these nations. The initiative notably invites women-led firms and startups advocating gender equality to apply, in keeping with BMZ’s focus on female empowerment.
Since the fund is intended to support growth investments, entrepreneurs submitting an application should have demonstrated their concept and be prepared to scale.
“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 of DEG Impulse.
Applications are open until December 31.