In a major move to support local entrepreneurs, develoPPP Ventures, the flagship initiative funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) and managed by Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) GmbH, is expanding into Côte d’Ivoire. With over $160 million deployed globally in just one year, the program is set to provide Ivorian entrepreneurs with unparalleled opportunities to scale their impact-driven businesses. The initiative aims to catalyze sustainable economic growth through funding, technical assistance, and partnerships.
develoPPP Ventures, which has already seen success in other major African markets — including Ghana, Nigeria, Kenya, Tanzania, Rwanda, and South Africa — brings with it the promise of growth capital for Ivorian startups. The program’s expansion into Côte d’Ivoire underscores BMZ’s broader commitment to fostering innovative businesses that create social value in emerging markets.
Eligible startups in Côte d’Ivoire will have access to catalytic funding of up to €100,000, offered as a co-investment to help them advance their operations and expand their reach. In addition to funding, successful applicants will gain access to extensive growth advisory services and tailored technical assistance from industry experts, provided in collaboration with GreenTec Capital Partners. This partnership is designed to bolster each company’s capacity to scale sustainably and navigate challenges specific to the African business environment.
GreenTec Capital Partners, a longstanding collaborator in develoPPP Ventures’ efforts in Africa, brings a robust network of local and international experts. “Our collaboration with GIZ in Côte d’Ivoire is an exciting step to support Ivorian entrepreneurs, leveraging both financial resources and expertise tailored to meet their unique challenges,” said Godson Quaye, a senior partner at GreenTec. “Through this partnership, we are empowering entrepreneurs to create lasting value for their communities and economies.”
Côte d’Ivoire, known for its dynamic tech and startup scene, is home to a burgeoning community of innovators who are contributing to the country’s economic transformation. develoPPP Ventures’ entry into this market is expected to add momentum to this growth, particularly for entrepreneurs with a strong emphasis on community impact, job creation, and technological innovation.
Applications for the Côte d’Ivoire program will open on November 15, 2024. The selection criteria focus on early-stage companies with scalable business models, proven market traction, and a clear impact on local communities. Startups chosen for the program will not only benefit from financial resources but will also gain visibility and connections within influential business ecosystems, which can be crucial for future investment opportunities.
Within a year, develoPPP Ventures has allocated over $160 million across five continents, illustrating its commitment to promoting inclusive economic growth and addressing key developmental challenges through entrepreneurship. In Ghana, for example, the program recently awarded €500,000 in funding to five high-potential startups across sectors ranging from data analytics to digital streaming. This milestone marks the program’s fourth cohort in Ghana, underscoring BMZ’s long-term dedication to fostering local innovation and community-based solutions in Africa.
The selected startups in Ghana, such as Aya Data and Swoove360, reflect the transformative impact of targeted funding combined with strategic guidance. Each recipient of develoPPP Ventures funding also receives tailored advisory services from experienced partners, including GreenTec Capital and Scio Network, who work with these businesses to optimize operations and scale sustainably. According to GreenTec, this holistic approach has been key to enhancing the resilience and impact of early-stage companies.
The expansion of develoPPP Ventures to Côte d’Ivoire represents a significant opportunity for local entrepreneurs who are addressing pressing social needs while advancing economic growth. By providing financial support and tailored expertise, develoPPP Ventures seeks to help Ivorian entrepreneurs build resilient, scalable businesses that can compete both regionally and globally.
As develoPPP Ventures prepares to open its first round of applications in Côte d’Ivoire, interest is building across the entrepreneurial community. “This initiative brings fresh potential for Ivorian innovators to scale their impact and contribute to our growing ecosystem,” said a representative from Abidjan-based incubator, Incub’Ivoire. “It’s a valuable chance for startups ready to make a difference.”
With the initial application deadline approaching, Côte d’Ivoire’s startup ecosystem is poised for an influx of new growth opportunities. As develoPPP Ventures takes root in this West African nation, the initiative not only promises short-term financial support but also paves the way for long-term economic transformation, aligning local entrepreneurial ambition with sustainable development objectives.
For more information on application guidelines and eligibility, interested entrepreneurs can visit develoPPP Ventures’ official website or contact their local offices. The program, implemented on behalf of BMZ, is committed to supporting the next generation of innovators shaping the future of Africa’s economy.