There is a big opportunity for startups in Kenya to win as much as €100,000 worth of grant money to promote their business ventures.
The funding is made available courtesy of develoPPP Ventures and backed by Germany’s Federal Ministry for Economic Cooperation and Development.
According to a press statement obtained from develoPPP Venture’s website, eligible startups who scale through the selection processes will be given €100,000 worth of grant money to help scale their operations.
A top-up of an additional €100,000 will also be given to them during the program’s second phase, but only to startups that show demonstrated success.
“Each application will first be evaluated based on consistent and transparent criteria. Then, if your application is successful in the competition, you will be allowed to pitch to the decision-making committee of DEG and GIZ.
“The best candidates will then undergo an on-site review (due diligence), which, if successful, will be followed by a funding contract. The application for develoPPP Ventures is handled in each country by a team of local experts who can answer any questions you may have.
“You will find the respective contact details in the application form and guidelines,” explained the statement by develoPPP Ventures.
It should be noted that even though develoPPP Ventures is starting with Kenyan startups, there are plans to further expand the program across Africa. The program takes place twice a year, in June and December. Therefore, interested Kenyan startups should ensure to submit their applications before December 31st, 2021.
