Kenyan startups can apply for grants of up to $113k

Kenyan startups can apply for grants of up to $113k

The Federal Development Ministry (BMZ) has invited Kenyan startups to apply for grants of up to $113k from the second cohort of the develoPPP Ventures program.

Recall that the develoPPP Ventures program was launched in the middle of the year on behalf of the German Federal Ministry of Economic Cooperation and Development and funds were distributed by DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH via a matching-funds model.

Gerd Müller the Development Minister has said that the program aims to empower startups with entrepreneurial support and grant for growth investments.

The second cohort will now be looking to enable startups with innovative business models and sustainable economic, ecological or social impact in developing or emerging countries to scale.

Startups applying must be generating some initial turnover with their product and should have achieved a proof of concept and be ready to scale.

Since its launch, the DeveloPPP program claims it has realized more than 2,000 projects around the world, together with local, German and European companies.

The program will be conducted in collaboration with impact investment specialist Seedstars and business incubator NaiLab as it looks to help young entrepreneurs who are making innovative contributions to sustainable development

develoPPP Ventures was initially launched in Kenya but will be gradually expanded to cover more countries. Interested startups can apply here until December 31.