DEG – Deutsche Investitions- und Entwicklungsgesellschaft mbH, with funds from the German Ministry for Economic Cooperation and Development (BMZ), supports young companies to scale innovative business models that create positive impact and contribute to achieving the SDGs in Kenya.
• DEG provides grant co-financing of up to EUR 100,000 (and a top-up of EUR 100,000 for successful Ventures in a potential second phase).
• Matching funds equaling the amount of the grant financing must be provided by the company in the form of cash injection (from sponsors, investors). At least half of these required matching funds need to be injected as fresh equity.
• The use of funds takes place in Kenya (conclusion of contract with the Kenyan registered entity)
• The investment proposal is financially sound and the purpose of funding is clearly defined
• Entirely commercial financing of the investment project is not possible at this point (subsidiarity)
• Innovation: The business model is innovative with regard to the target country
• Scalability: The company has a high growth potential due to the size of the market and the target group
• Financial Sustainability: The break-even point will be reached timely (maximum within 3 years)
• Adequate Management: The company has the necessary expertise as well as management capacity and human resources to substantially scale its business
• The business model has a significant developmental relevance
• The impact is measurable, i.e. positive effects on the target groups
• The company is contributing to reaching the SDGs by increasing local income, saving natural resources, improving access to resources and services, and creating decent jobs.