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 .
 
As many early-stage entrepreneurs cannot get access to capital as they are considered too high risk investments for the traditional financial institutions, the OCIF fills a gap by offering Orange Corners entrepreneurs access to early stage funding to develop their idea into a product/proposition that can enter the market.
 
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The OCIF program is divided into two tracks as follows :
 
  1. 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).
  2. 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.
In addition to the Start-Capital, OC Sudan post-incubation program activities provided by 249Startups, these selected entrepreneurs will also receive technical assistance by United Capital Bank .
Orange Corners Sudan Is an initiative of Embassy of the Netherlands in Sudan , Implemented by 249Startups Space in collaboration with El- Nefiedi Group, Haggar Group, United Capital Bank بنك المال المتحد , and Yagoub Group.
 
This wouldnt be possible with out the support of DutchMFA , Orange Corners & Private sector Partners . 
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Some of the OCIF goals are : Promote entrepreneurship, Promote innovation and the development of innovative solutions to local challenges, Eliminate one of the biggest obstacles for the development of early stage startups through giving access to finance, .. etc.

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.

 
Deadline : 21 July || Click here to apply:
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