Are you an Impact-focused African entrepreneurs? If yes, then join the Impacc Venture program which will provide smart equity investment between $30,000 and $150,000.
Sponsoring Agency: Impacc
Type of Fund: Events, Workshops and Conferences
Deadline Available: Available
Deadline Date (mm/dd/yyyy): 06/15/2021
Size of the Fund: USD $50,000 to $500,000
Are you an Impact-focused African entrepreneurs? If yes, then join the Impacc Venture program which will provide smart equity investment between $30,000 and $150,000.
Impacc is launching call for investment in social businesses in Africa with sustainable high impact that provide innovative solutions to social, economic and environmental challenges affecting base of pyramid communities in Africa.
Innovative social businesses that:
• have high potential to create local green jobs.
• generate high impact improving living conditions for poor communities in Africa.
• are run by committed founders with strong entrepreneurial skills
• require funds to fuel to the next level of growth
• are at growth stage.
• improve knowledge or skills transfer to better impact the communities in Africa
• focus on inclusion of women or people living in rural areas
• are geared towards sustainable long-term local focus rooted in the local context throughout the value chain
Benefits
Impacc will support you in transforming your local ecosystem by creating inclusive and sustainable growth.
• Financial Support
o Smart equity investment between $30,000 and $150,000
o Non-profit, minority shareholding
o Based on agreed business valuation and investment consideration
o Potential to receive additional loan facility beyond initial equity funding to scale the business further
o Further fundraising support and tools
• Business Growth Support
o As an investor in the business, Impacc becomes a partner that provides guidance on strategy and planning.
o Impacc occupies 1 to 2 board seats.
o The business receives mentorship from key industry expertise & coaches to provide tailored support.
o Receive access to Impacc network to grow and scale the business.
o Provide strategy options and business modelling.
Eligibility criteria
• Social businesses targeting base of pyramid communities in Africa (impacting population living on less than $2 a day
• Impacc is committed to supporting the acceleration and transition to scale of social businesses that have clear impact generation plan. The impact should be trackable and measurable.
• Measuring success and sharing lessons learned. Impacc support social businesses that are committed to evaluating their own success, with plans to collect data and feedback to help inform decisions. This includes operational monitoring and evaluation, as well as impact evaluation. Innovators from learning organizations that make data driven decisions are a good fit for our investment.
• Social businesses with clear, ideally regional, scale and growth plans to reach millions of people living on less than $2 a day in Africa are highly preferred.
• The business should have a clear profitability roadmap
• The social businesses should have the potential to create local green jobs, improving living standards of base of pyramid communities in Africa.
• Impacc work with social business founders showing the relevant expertise and capabilities to achieve success. We also like to see that your team has clear roles, responsibilities, and time commitments needed to be successful.
• Teams should be able to demonstrate strong knowledge of the problems they are addressing and what approaches are likely to work in the local environment surrounding their enterprise (e.g. operational, geographical, political, or social context)
• Impacc targets already existing social business, which has been in operations for more than two years and has raised more than $20,000 in either grant, convertible grants, venture capital or private equity at the time of submission.
• The business should be post pilot and generating revenue of $20,000 month by month for the last 6 months by the time of application submission.
• The social businesses should be open to discuss franchise approach as part of scaling model
• The founding individuals must be above 18 years of age at the time of the application and nationals or resident in Africa.
• The founding team should be African nationals OR currently living or working in Africa, with a regional perspective.
• All team members must be fully proficient in written and spoken English.
• The initiative requires founder participation. All founding team members must commit to participate in the initiative. Lack of commitment or active engagement will render the team or innovation ineligible for the program.
More information at: https://www.impacc.org/en/venture-application/
Eligible Countries:
Algeria, Angola, Benin, Botswana, Burkina Faso, Burundi, Cameroon, Cape Verde, Central African Republic, Chad, Comoros, Congo, Democratic Republic of the, Congo, Republic of the, Côte d’Ivoire, Djibouti, Egypt, Equatorial Guinea, Eritrea, Eswatini (Swaziland), Ethiopia, Gabon, Gambia, Guinea, Guinea-Bissau, Kenya, Lesotho, Liberia, Libya, Madagascar, Malawi, Mali, Mauritania, Mauritius, Mayotte, Morocco, Mozambique, Namibia, Niger, Nigeria, Rwanda, Réunion, Saint Helena, Sao Tome and Principe, Senegal, Seychelles, Sierra Leone, Somalia, South Africa, South Sudan, Sudan, Tanzania, Togo, Tunisia, Uganda, Western Sahara, Zambia, Zimbabwe
