Development Ministry launches start-up support programme
Local start-ups can now receive a grant of up to 100,000 euros. In order to provide this assistance, the Federal Development Ministry is expanding its develoPPP programme to include a pillar to support young entrepreneurs in developing countries and emerging countries who are helping to improve local people’s living conditions. The first ideas competition will open on 26 May 2021.
With the new pillar, called develoPPP Ventures, the BMZ has added an instrument to its support portfolio that is especially aimed at young entrepreneurs who are making innovative contributions to sustainable development in a developing country. In the past, companies had to be at least three years old and able to show a minimum turnover in order to be eligible as candidates for support.
The new programme will initially launch in Kenya, which already has a lively start-up scene. After that, develoPPP Ventures will be gradually expanded to cover more countries.
Further information can be found HERE