develoPPP Ventures has started a new €100K funding grant for impact-driven startups in Kenya and Tanzania to help them grow.
develoPPP Ventures intends to empower entrepreneurs with entrepreneurial support and a grant of up to €100,000 for growth investments on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), administered by DEG Impulse and supported by Seedstars.
The open call is extended to Kenyan and Tanzanian businesses with innovative business models and long-term economic, ecological, or social effects in these countries. In keeping with the BMZ’s emphasis on female empowerment, the program encourages women-led firms and startups supporting gender equality to apply.
The company stated that it intends to replicate the success of its previous funding rounds and that the grants will be used for growth investments.
Startups submitting applications should have a proof of concept and be prepared to scale. The investment initiative also introduced a set of requirements that entrepreneurs must meet to be accepted into the program.
The 25-company develoPPP Ventures portfolio has recently expanded to include firms offering cutting-edge solutions in the fields of health (Zuri Health) and agriculture (AgriBora), e-mobility (Kiri EV), social commerce (Shukiba), and digitalisation (Brrng).
Startups who want to apply can do so before December 31, 2022.