With the explosion of the COVID-19 epidemic and the resulting global economic crisis, particularly affecting startups and SMEs on the African continent, the GreenTec Capital Africa Foundation and the French Development Agency are strengthening their mission to support the local ecosystem and encourage startups to respond to this call for applications.
The GreenTec Capital Africa Foundation (GCAF) is a non-profit organization founded to promote the development of investment in African entrepreneurship and support the creation of local economic and social value. In collaboration with GreenTec Capital Partners, it has successfully supported young African growths for more than five years.
In Africa, companies in the digital sector are booming and offering answers to unmet local needs while generating new jobs within the framework of innovative economic models. However, these companies quickly face challenges, such as access to finance.
As part of this program launched by AFD, the GCAF will select French-speaking digital start-ups and SMEs and offer them two types of support:
- A zero-rate loan for companies demonstrating development capacity.
- Operational expertise (basic venture building): strategic, financial, technical and operational advice and capacity building.
After the selection, startups will have the opportunity to join the “Results4Equity” program of GreenTec Capital Partners. The program combines extensive operational support with reduced financial support.
Unlike other investors, GreenTec only takes equity participation for the results of its total contribution, as measured by the achievement of predefined objectives agreed with the founders of the start-up at the start of the collaboration.
WHAT WE OFFER
Zero rate loan: the GCAF can unlock a zero rate loan up to € 50,000, with a repayment period of up to 18 months (without repayment schedule).
Venture Building:
- Strategic and operational advice : advice on your current business model, market opportunities, potential growth strategies and learning new marketing and sales approaches
- Financial advice: support in financial modeling and financial projections
- Technical advice: analysis of current technical capacities to determine the improvements to be made
- Partnerships: putting in contact with partners and potential investors within our ecosystem
POTENTIAL FURTHER INVESTMENT BY GREENTEC CAPITAL PARTNERS
- Strategic support
- Business development
- Financial advice
- Legal support
- Technical assistance
- Financial support
- Get a long term partner
ELIGIBILITY CRITERIA
- Company Profile:
- Digital aspect
- Generate income
- Proof of concept
- Existing and growing customer base
- Registered company
- Minimum two founders
- Geography: French-speaking African countries
- Sectors concerned: agriculture, sustainable resources, digitalization
Note: applications must be made in English.
TIMELINE
- Deadline for applications: June 17, 2020
- Analysis of applications: June 17 – July 1
- Calls with selected startups: July 1 – July 15
- Start of program: August 2020
Source: https://innovation-village.com/apply-for-digital-francophone-african-startups-and-smes/