- GIZ supports the growth phase of innovative Nigerian small and growing businesses (SGBs)
- These startups must have the potential to generate a measurable, positive social or environmental impact alongside financial returns.
- Startups can receive a grant of up to EUR 100,000 to scale up their development-relevant business model
The Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ), representing the German Federal Ministry for Economic Cooperation and Development (BMZ), has introduced develoPPP Ventures, a fresh funding program for Nigerian start-ups.
This initiative aims to support the growth stage of innovative small and growing businesses (SGBs) in Nigeria, which have the potential to generate positive social or environmental impact alongside financial returns.
Funding decisions are made through biannual competitions. Successful applicants can receive grants of up to EUR 100,000 to fuel their expansion and scale up their development-oriented business models.
How to be eligible
To be eligible, start-ups must already generate initial revenues from their products or services and secure additional funds from other sources equal to or greater than the grant amount through a matching fund model.
Eligible SGBs must be registered in Nigeria, have a relevant product or service already in the market, and demonstrate initial sales figures through at least one annual financial statement.
They must also provide comprehensive financial and strategic business plans for the next three years, outlining how the funds will be utilized to foster growth, achieve financial stability, and reach the break-even point.
Benefits selected small businesses will receive
DeveloPPP Ventures financing is designed to elevate these companies beyond the initial threshold of attractiveness for commercial impact investors and financial institutions.
In addition to financial support, selected companies will receive tailored technical assistance based on their specific needs to enhance their chances of success.
GIZ will collaborate with the international start-up ecosystem-building organization VC4A and the local community-driven start-up hub, The Ventures Park, to implement develoPPP Ventures in Nigeria.
Applicants are to be aware that the overall selection process includes additional requirements and due diligence procedures, and GIZ will consider additional legal factors before engaging with the selected start-ups.
Application details
The inaugural develoPPP Ventures for Nigeria is presently accepting applications from 15th May until 30th June 2023.
Small and growing businesses (SGBs) that wish to participate in the Develop Ventures funding program can access further information and application details here.
Alternatively, they can reach out to this email for any inquiries or assistance.
GIZ’s Impact in Nigeria
GIZ operates in Nigeria under the commission of the German Federal Ministry for Economic Cooperation and Development (BMZ) and the German Federal Foreign Office (AA). Alongside these entities, GIZ collaborates with other partners such as the European Union (EU) in the areas of peace, security, and energy, and the Bill & Melinda Gates Foundation in agricultural value chains. The primary focus of GIZ’s activities in Nigeria includes endeavours to enhance employment opportunities, income generation, and access to financial resources for micro, small, and medium-sized enterprises (MSMEs).
I would like to be a beneficiary because my business is striving hard to scale up and if given the opportunity m, I will use my knowledge and business skills to improve my business by applying new strategies and techniques to be more effective and efficient .
Interested
It’s will really help us.
I would like to improve my business skills with new strategies and technique if given opportunity as a beneficiary.
good，it will help reduce poverty and breach gap between the poor and reach
I will be so grateful to be a beneficiary becauses business is one of the best thing anyone could think of and inviest.
Waooo this interesting, it will go a long way for us here to achieve greater growth in our little business
Interested
I have a starting up business on poultry but I need assistance on building on a business
Good initiative.GIZ at it as usual. Long live GIZ..I Trust that my small business will be a beneficiary.
I will really love and like this in my business to even promote other in reducing unemployment.
I will love to expand my business in a big form . I love to be part of the beneficiary
We will be vry greatfull becos it wil.improves the standard of by creating employment opportunities, providing service and producing goods
I will be grateful if given the opportunity so I can expand my business.
I am interested in the grant
I’m interested so that I can expand my business
Imterested