BMZ offering support for African start-ups
Electrifying urban transport, supplying remote areas with electricity and water, networking farmers digitally with potential customers – African start-ups are working on solutions for a wide range of areas. At the same time, they bear the potential to solve important problems relating to development and, in doing so, create highly-qualified jobs.
For this reason, with the promotional tool developpp Ventures, the BMZ is supporting young enterprises in Africa in taking business models to scale which make an economic, ecological and social contribution at local level. Having been launched in Kenya last year, the Ministry is now also bringing the programme to Ghana and Tanzania.
"Start-ups can be part of the solution to many challenges,” Development Minister Svenja Schulze pointed out launching the extended promotional programme in May, and added: "This is why we are helping young enterprises in Africa to take solutions for sustainable development to scale. Furthermore, here, it is important for us to strengthen women entrepreneurs in particular. We will keep an eye on this in our promotional measures."
Start-ups in Ghana, Tanzania and Kenya can still apply for investment support of up to 100,000 euros until the 30th June 2022. The requirements for participating include that an enterprise has to be pursuing a business model which is innovative for the respective country and has already had initial turnover with it, and that it is registered in one of the three countries or plans to register there before the growth investment which is to be supported has started. This also opens up the opportunity for German start-ups to participate with corresponding growth plans.
How to apply to the develoPPP Ventures ideas competition
develoPPP Ventures is aimed at young companies whose innovative business model improves living conditions in a developing or emerging country and who are planning to scale up. Via a matching-funds model, the BMZ provides a grant of up to 100,000 euros for suitable growth investments.
If a start-up is pursuing a high-impact business model in a developing or emerging economy and has already successfully mastered the formation phase it can apply for the ideas competition. More information and the application form can be found on the develoPPP Ventures website.