The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), on behalf of the German Federal Ministry for Economic Cooperation and Development (BMZ), has launched develoPPP Ventures, a new funding scheme for South African startups.
The develoPPP Ventures programme supports the growth phase of innovative South African small and growing businesses (SGBs) that have the potential to generate a measurable, positive social or environmental impact alongside financial returns.
The funding is decided within the framework of regular competitions, with startups receiving grants of up to EUR 100,000 (US$110,000) towards a growth investment to scale up their development-relevant business model.
develoPPP Ventures financing is tailored to raise these companies above the first threshold of becoming attractive enough for commercial investors or financial institutions. The SGB must be registered in South Africa, must have a relevant product or service already on the market, and be able to prove first sales figures by providing at least one annual financial statement.
Besides funding, selected companies will receive technical assistance based on their specific needs to maximise their chances of success. GIZ is supported by the international startup ecosystem-building organization VC4A and community-driven angel investment group Jozi Angels in implementing develoPPP Ventures in South Africa.
Applications for the first develoPPP Ventures competition for South Africa are open here until June 30.
