GLOBAL – The Innovation Factory, a programme commissioned by the German Federal Ministry for Economic Cooperation and Development (BMZ), has launched a Digital Innovation Accelerator Programme targeting to benefit digital startups from Ethiopia, Ghana, Indonesia, Mexico, & Senegal.
Digital startups that qualify for the programme include those that contribute to the areas of Gender Equality, Environmental Climate Action, and EduTech.
From mobile apps that crowd fund reforestation using blockchain technology to virtual platforms providing digital literacy skills for girls in rural areas, digital technology has immense potential in helping leap frog communities in achieving the UN Sustainable Development Goals.
The programme is looking for digital startups with a clear business case and feasible financial sustainability for future/current revenue model.
The solutions range from mobile apps that crowd fund reforestation using blockchain technology to virtual platforms providing digital literacy skills for girls in rural areas.
The startup should also have a digital innovation solution that is operational & has been introduced to the market & its intended users.
Solutions should also have potential for scale and significant replication to maximise impact while at the same time delivering a positive impact in the areas of Gender Equality, Environmental Climate Action or EduTech
In a statement to news rooms, Innovation Factory revealed that 45 teams will be selected to join the programme that includes a 6-month acceleration programme.
Successful applicants will receive capacity building support; refine their business models and pitch strategy; amplify their SDG impacts; and work on their investment readiness.
At the end of the acceleration phase, teams will submit their refined business plans to compete for a final prize.
Out of the 45 teams, 12 winning teams will receive tailored support packages equivalent to 15.000€ each.
The financial support can be used towards further development of their products and/or the scaling of their start-ups. Additionally, successful teams will also profit from the Innovation Factory’s network.
The Innovation Factory programme is being implemented by the Deutsche Gesellschaft für Internationale Zusammenarbeit (GIZ) and supported by adelphi.
