Impacc Vows to Support 6 Innovative Kenyan Social Businesses With Around $30,000 – $150,000

Impacc gGmbH has published a call for applications for its third venture cohort of investment in innovative entrepreneurs in Rwanda, Uganda, and Tanzania who will receive a smart equity investment to scale their firms. Impacc gGmbH supports local, green enterprises in Africa.

The investment will range from $30,000 to $150,000 and will focus on six cutting-edge social businesses. These businesses will go through rigorous due diligence for six to twelve months to make sure they have the absolute minimum requirements for investment consideration, such as a scalable business model that has an impact at the base of the pyramid.

The Impacc program promotes growth-stage, creative social enterprises that are committed to including women, enhancing the quality of life for those who reside in rural regions, and having a significant positive influence on the problems that communities at the base of the pyramid confront.

The investment’s purpose is to assist businesses that are too young to be eligible for venture capital or commercial financing, accelerating and reducing their risk in preparation for upcoming follow-on funding rounds. The mission of Impacc is to inspire and empower creative business owners to positively impact their communities and create long-lasting jobs.

“Africa has to produce 25 million jobs annually to keep up with its expanding population, and the region’s top businesspeople and startup founders are the ones who can make that happen. They possess the necessary ideas, guts, vigor, and optimism. They lack the resources and assistance they would need to help their ideas become successful. Here is where Impacc steps in; we invest early to support the following generation of outstanding African entrepreneurs,” says Till Wahnbaeck, CEO of Impacc, in making the announcement.

Along with the investment, successful applicants will also get access to the Impacc network to expand and scale their enterprises, technological strategy alternatives, and business modeling to hasten their growth and impact, as well as technical support as needed from leading industry experts and coaches.

Since beginning operations at the start of Covid-19, Impacc has aided startups in Africa by leveraging its resources to foster the development of creative businesspeople and guarantee the creation of jobs that will enhance the standard of living for those making less than $2 per day.

Before launching fundraising campaigns for them, Impacc searches for companies that meet its investment criteria and goes through a thorough selection and due diligence procedure. Entrepreneurs can apply for this opportunity until March 31.