The International Organization for Migration (IOM) in in the Democratic Republic of Congo(DRC) and ZidiCircle are open to receive applications from Qualified Green Small and Medium Entreprises (SMEs) seeking funding to grow their businesses within DRC. This is a call under the O-REMIT project that is funded by the Belgian Government and implemented by IOM together with Entrepreneurs for Entrepeneurs (OVO), the National Bank of Belgium and ZidiCircle.
The O-REMIT project aims to offer cost-effective alternatives for remittances and opportunities to diasporas to invest their savings. It will do so through a variety of activities: mapping remittance flows and behaviours from Belgian diaspora into #Morocco, #Senegal, and the Democratic Republic of the Congo (#DRC); creating awareness among remit senders and receivers in these 3 selected countries on remittance options, methods and behaviours; and offering opportunities for diaspora from these 3 countries of origin to convert remittances and savings into investments through dedicated training programmes.
Zidicircle is currently training African diaspora investors living in Belgium on how to start functioning as angel investors and connect them to investor-ready green SMEs in DRC. Read more about the diaspora investor training here
Photo: Morocco investment training launch on June 6th, 2023
So, are you a green SME based in DRC looking for investments?
Then this programme is for you!
Description of the Targeted SMEs
This project will target SMEs in the green economy sectors such as food and agriculture, renewable energy, circular economy (re-use, upcycling & recycling), water sanitation and health (WASH). Manufacturing and digital solutions supporting the green economy will also be considered.
What is a Green Economy Business?
The International Labour Organization (ILO) defines a green economy business as one that contributes to protecting and restoring the natural environment, and reduces the harm caused to it. It is also productive, fair, and secure.
In this context, green businesses may include one or all of the following aspects:
- Efficient use of resources, e.g. energy, water;
- Protection of natural resources, e.g. soil, water, forests and biodiversity;
- Reduction of waste and losses (especially in relation to food crops) along the value chains: e.g. through solar drying and solar cooling facilities;
- Promoting the circular economy, e.g. re-use, upcycling and recycling;
- Reduction of carbon emissions;
- Resilience against climate change, e.g. conservation agriculture and climate-smart agriculture;
- Reduction of waste and pollution.
Profile of targeted SMEs
SMEs have to meet the following criteria:
- An active business of at least 2 years with paying customers and a high product demand;
- A green small or medium business (SME) seeking investment of between 10.000 Euros to 50.000 Euros.
Identifying green SMEs and practical modalities
The following steps will be taken to identify and support green SMEs in DR Congo:
- ZidiCircle & IOM will collaborate with local incubators and accelerators to identify the Green SMEs in DR Congo through IOM in DR Congo;
- The green SMEs will fill out the application form;
- Shortlisted SMEs will be contacted for pitching preparation;
- A hybrid pitch event will be organized in Brussels and DR Congo where diaspora investors gather physically in Brussels and the green SMEs gather physically in DR Congo and pitch via live streaming;
- During the pitch event, the diaspora investors will grade the 15 best green SMEs that will move to the due diligence stage;
- After a satisfactory due diligence process the diaspora investors will avail the funding through the ZidiCircle Diaspora Coop. The project hopes to attract funding for 10 SMEs per corridor.
How to join
- Fill out the application form and indicate your incubator or accelerator;
- Shortlisted green SMEs will be contacted with the next steps;
- Pitching will be held in the last week of March 2024.
What is in it for you?
- You will get the chance to present your business to investors;
- You will get coached by experts on how to pitch your business;
- If you impress the investors they will shortlist your business for due diligence;
- Then you will stand a chance to get the investment!
Conditions
- Once chosen you must be willing to go through a thorough due diligence process;
- You must be willing to give up some shares if you are looking for an equity investment;
- You must be in a position to give security if you are looking for a debt investment;
- Being shortlisted does not mean you will get funding.
Timeline
Application
Apply here before February 28th, 2023 23:59 UTC+1.
Are you an incubator willing to collaborate? Send us an email with your profile to o-remit@zidicircle.com
Read more about the O-REMIT project here.
For questions please contact O-REMIT project team (o-remit@zidicircle.com) or through the facebook form here