Due to the overwhelming number of applications, IPSD is pausing all applications for the Co-Investment grant, the IGNITE program, and Nexus grant program. The World Bank, working with the EU and other donors, has agreed to provide additional financing for an IPSD 2 project. It is estimated that the applications for these programs shall re-open in the last quarter of 2023.
The Co-Investment Grants Program aims to help stimulate private investment by early stage private investors, including syndication between investors and encouraging angel investors. Co-Investment Grants will provide supplementary funding to firms that are able to raise investment from early stage private investors. The Co-Investment Grants will provide additional funding to help early stage firms develop and grow, and better capitalize the enterprises, thereby providing a longer ‘runway’ to achieve business development milestones that lead to stronger businesses.
Co-Investment Grants are available for innovative, technology-driven, technology-enabled, and high impact firms and startups across a range of sectors. The program focuses on startups and SMEs that are able to attract the attention of investors and where supplemental funding can encourage investors to close deals. The primary factor in selection and approving the grant will be that the firm is eligible and able to secure an investment by an eligible private investor(s). Eligible firms may receive a financial assistance of up to $350,000 in Co-Investment Grants.
Each firm applying for a Co-Investment Grant must meet the following eligibility criteria:
FikraTalk Session: introducing the Co-Investement Grants Program