Great news for South African startups! A new funding opportunity, DeveloPPP Ventures, has been launched by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ). This initiative aims to support startups in scaling their development-relevant business models through substantial financial assistance and technical support.
Funding Details
DeveloPPP Ventures offers startups the chance to receive a grant of up to R2 million. This funding is designed to help startups grow their operations, making them more attractive to commercial investors and financial institutions. The funding is awarded through biannual competitions, with the first one for 2024 currently open from May 15 to June 30.
Eligibility Criteria
To qualify for the DeveloPPP Ventures funding, startups must meet several prerequisites:
- Initial Revenue Generation: Startups must already be generating revenue with their product or service.
- Matching Funds: Startups must secure additional funds from other sources that match the grant amount.
- Registration: The business must be registered in South Africa.
- Market Presence: There must be a relevant product or service already on the market.
- Sales Proof: Startups must provide at least one annual financial statement showing first sales figures.
Additionally, applicants must submit sound financial and strategic business plans covering the next three years. These documents should outline how the funds will be utilized to achieve growth, financial stability, and eventual break-even.
Additional Support
Beyond financial aid, DeveloPPP Ventures provides technical assistance tailored to the specific needs of each startup. This support aims to maximize the chances of success for the recipients, helping them overcome challenges and optimize their business strategies.
Application Process
Interested startups can apply for the funding by visiting DeveloPPP Ventures or contacting the team via email at develoPPPventures@giz.de. The selection process includes additional requirements and due diligence procedures, along with legal considerations to ensure a thorough evaluation.
Conclusion
The DeveloPPP Ventures funding scheme represents a significant opportunity for South African startups to accelerate their growth and development. By meeting the eligibility criteria and presenting strong financial and strategic plans, startups can secure essential funding and technical support to enhance their business operations and attract further investment. Don’t miss out on this chance to propel your startup to new heights—apply now!
For more details and to apply, visit the official DeveloPPP Ventures website.
