GIZ launches develoPPP Ventures to offer new funding opportunities for start-ups

The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH has launched a new funding scheme – develoPPP Ventures – in Ghana specifically for start-ups.

On behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), develoPPP Ventures supports the growth phase of innovative Ghanaian small and growing businesses (SGBs) that have the potential to generate a measurable, positive social or/and environmental impact alongside financial returns.

Funding is decided within the framework of idea competitions, which take place twice a year. If the application is successful, start-ups can receive a grant of up to €100,000 toward a growth investment to scale up their development-relevant business model. Prerequisites are that they already generate initial sales with their product or service (proof of concept), and acquire additional funds from another source of at least the same amount (matching-fund-model).

develoPPP Ventures financing is tailored to raise these companies above the first threshold of becoming attractive enough for commercial (impact) investors and/or financial institutions. The SGB must be registered in Ghana, must have a relevant product or service already on the market and can prove first sales figures by providing at least one financial statement.

In addition, they must provide sound financial and strategic business planning documents over a 3-year period going forward. The financial planning should provide insight into how the funds will be used to grow, become financially sound and reach break-even.

Besides funding, the SGB will receive technical assistance based on their specific needs to maximise their chances of success. This technical assistance will be provided by Innohub Limited, the local implementing partner for develoPPP Ventures. The first ideas competition for Ghana is open from 15 May until 30 June 2022.