How much money will be given to each startup?
The equity-free grant is up to USD 150,000 for each startup. The amount of the grant may vary from startup to startup, and the total will be defined in the selection process according to the size of the startup, the business plan, the scope of its solution, etc.
How will my startup receive financial support if selected?
The equity-free grant defined for each startup will be delivered to each participating startup in one or several deposits in a specific account to manage these funds. The release of the financial support will be subject to the constant and visible commitment of participating startups and their achievement of goals.
Does my startup have to pay taxes on the financial support?
Financial support is part of a grant from IFAD. The funds will be transferred through German Sparkassenstiftung to each startup and the startups will be responsible for declaring and, if needed, paying any taxes for which they may be liable in relation to such support.