IMPACC, a non-profit that builds green start-ups in Africa, plans to provide smart equity investment of between $30,000 – $150,000 to local social businesses with sustainable high impact.
The move is aimed to transform the local ecosystem by leveraging on the disruptive power of innovative local products and services as a driver for inclusive and sustainable growth.
The funds have a duration of 6 to 12 months.
“We use the tools of business to meet social challenges. We identify local green businesses that have already had first proof of concept and help them grow by scaling their business through a franchise system into other regions and countries,” said IMPACC CEO Till Wahnbaeck while making the announcement.
Businesses have until June 15th to apply for the venture fund.
Jochen Moninger, Impacc Co-Founder said the planned investment is in line with their goals to build social businesses with local founders that have the potential to create local green jobs and generate impact, often with a franchise approach. The application process consists of two phases with the second phase only open to those identified as a potential match for investment.
Besides the financial support, successful applicants will also receive business growth support to accelerate their impact. This will include receiving mentorship from key industry experts and coaches to provide tailored support, access to Impacc network to grow and scale their businesses, technical strategy options and business modelling.
IMPACC source for businesses that fit its investment criteria and undertake a rigorous selection and due diligence process before deciding to run a fundraising campaign on its platform to close a raise for the businesses. From selection to successful raise of investment it may take 6 to 12 months.