Orange Corners Sudan is happy to announce the implementation of OCIF
The Netherlands Minstry of Foreign Affairs | Orange Corners Innovation Fund (OCIF) aims to improve access to finance for early-stage startups that are enrolled in the Orange Corners Sudan incubation program.
Orange Corners Sudan Innovation Fund :A DutchMFA Initiative that is Implemented by United Capital Bank in collaboration with 249Startups .
- The 6 months incubation phase (( #OCIF_Track_I) : Where each OC Sudan incubatees will receive up to €5.000 . It is consisting of a monthly allowance and a prototype vouchers to do their first prototyping/market research/product development/etc. (condition apply – e.g, incubation program performance assessment, KPIs, business needs, stage…etc).
- Post Incubation Track (#OCIF_Track_2) : At the end of the 6 Months incubation , a selected number of incubatees will pitch in front of a professional and independent judging panel. the panel will select 3-5 incubatees to get access to further Start-Capital of up to €50,000 .
The Startup-Capital will be distributed in tranches that are linked to pre-defined KPI’s. Periodically, certain KPI’s must be met by the entrepreneurs to qualify for the next tranche of the fund; the capital provided to the entrepreneurs will be partly a grant and partly a loan. Terms and conditions apply.
With the introduction of OCIF, we look forward to further supporting entrepreneurs in turning smart ideas into sustainable businesses. All entrepreneurs must be FULLY COMMITED to their business and program. Terms and conditions will apply. Take the opportunity and apply for Orange Corners Sudan Incubation program to grow your business & open up to lots of opportunities.