develoPPP Ventures has launched a new €100,000 funding grant for startups in Kenya and Tanzania to get a chance to scale their impact-driven companies.
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 €100,000 for growth investments.
The open call is open 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 is especially encouraging women-led startups and startups promoting gender equality to apply.
The company said it plans to replicate the success of its previous funding rounds and is targeting the grants towards growth investments.
Startups applying are expected to have achieved a proof of concept and are ready to scale. The funding venture also added a list of criteria that startups who want to participate in the program have to fulfil.
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).
The deadline is December 31, 2022, and interested startups can apply here.