Benefit from co-financing to get your innovative entrepreneurial project off the ground with high impact potential
Are you a Beninese company offering an innovative, high-impact, commercially viable digital solution? Are you looking for capital to increase the impact of your solution?
Discover LuxAid Challenge Fund (LCF)! The call for projects is open to companies registered in Benin. You have until February 7, 2025 to submit your application!
What is LuxAid Challenge Fund?
The Luxembourg Cooperation has created the LuxAid Private Sector Engagement Funds to support pioneering business solutions to development challenges. Among these funds, the LuxAid Challenge Fund targets start-ups that have already tested their innovative product or service on the market, obtained their first customers and generated commercial revenues.
The LuxAid Challenge Fund co-financing will support companies to implement projects lasting 1-2 years with a demonstrable impact on the SDGs through increasing the customer base, adapting the business model to the market, and/or preparing for a first external investment.
As part of this call for projects, a budget of nearly 490 million FCFA (750,000 EUR) was allocated to finance 6 to 8 Beninese companies requiring co-financing ranging from 30 to 90 million FCFA (50,000 to 140,000 EUR).