Call for entrepreneurs Benin 2025

1. THE OVO APPROACH

OVO serves as an accelerator and investment facilitator for small and medium-sized enterprises (SMEs) and non-profit ventures with an entrepreneurial focus in Africa. It provides crucial support that encompasses comprehensive coaching programs to assist these ventures in their growth and development. Recognizing that these businesses often face financial challenges that surpass what microfinancing services typically offer, OVO aims to bridge this gap by offering tailored programs that may lead to investment.
To support these ventures comprehensively, OVO adopts a dual approach focusing on both growth coaching and investment-readiness coaching. The process begins with growth coaching, aimed at assisting businesses in expanding operations, increasing market presence, enlarging sustainability and enhancing overall performance. This phase sets the groundwork for sustainable development and increased impact.
Subsequently, businesses undergo investment-readiness coaching to prepare them to attract potential investors effectively. This coaching ensures businesses have essential elements in place, such as a robust business plan, sound financial projections, and operational readiness.
OVO integrates personalized coaching support with a well-structured system aimed at fostering business growth. This system prioritizes promoting intercultural communication and facilitating knowledge exchange among stakeholders. It acts as a platform for transferring expertise, skills, capabilities, as well as valuable insights and best practices from experienced individuals to those in need of guidance and mentorship. The primary objective of this knowledge transfer process is to cultivate an environment that supports sustainability, drives growth, and encourages innovation within the private sectors of both Africa and Belgium. This systematic approach to knowledge sharing is implemented at various stages to ensure a comprehensive and impactful strategy benefiting all parties involved.
Moreover, OVO distinguishes itself through the establishment of an exceptional international ecosystem that unites dedicated volunteers, reputable companies, critical investors, influential NGOs, cooperative knowledge and educational institutions, and supportive government agencies. These strategic partnerships play a vital role in OVO's successful operations, enabling the organization to effectively tackle challenges within the "missing middle" sector. For example, by leveraging this extensive network, OVO can pinpoint target entities for support. This strategic selection process not only leads to significant cost savings but also accelerates the establishment of trust and collaboration between OVO and the ventures it assists.

2. CRITERIA FOR ELIGIBILITY

The eligibility requirements for the SusTech4Africa Grow Program focus on triple bottom line sustainability, which considers the impact on people, planet, and profit. This means that proposed solutions should benefit society, protect the environment, and be economically viable.

Technology plays a crucial role as an enabler for sustainable development in Africa. It can help address various environmental and social challenges by providing innovative solutions. For instance, technology can improve access to clean water, healthcare, education, and renewable energy. It can also enhance agricultural practices, promote conservation efforts, and support efficient resource management. By leveraging technology effectively, Africa can achieve sustainable development goals while creating opportunities for economic growth and social progress.

Financial Performance

The company operates primarily in Africa and is predominantly African-owned.
It has been formally registered as a legal entity for minimum 3 years.
The total investment required by the company is capped at EUR 50,000.

Social Responsibility

The business contributes to social impact through the creation of local employment opportunities and the provision of essential goods and services to vulnerable or underserved populations.
It upholds equitable and respectful relationships with employees, customers, and suppliers.

Environmental Sustainability

The company's value chain embodies, or aims to embody, principles of the circular economy.
It strives to minimize its environmental and human health impacts, surpassing the standards set by current product or service offerings.

Technological Innovation

The company's production facilities utilize sustainable technologies.
These technologies represent a significant advancement towards sustainability compared to similar production units.

The company participating in the ST4A programme must demonstrate its potential for economic profitability over the repayment period of the loan applied for.

In addition to the above conditions, companies qualify for participation in the ST4A programme if they meet at least two of the following criteria:

1. Have achieved a minimum turnover of 15,000,000 FCFA in one of the previous three years

2. Have a minimum of three employees, including fixed-term contracts, apprentices, contractors and other subsidised forms of employment, for whom the contributions required by law are paid (the payment must appear on the balance sheet)

3. Have a functioning accounting system, or at least be able to show regular and up-to-date entries in the accounting journal.

4. Be able to continue operations for a month if the promoter is absent.

3. PRACTICAL INFORMATION

Programme :

Candidate selection

The programme begins with the selection of 7 to 10 entrepreneurs invited to take part in a 3-day Boost Camp.
The selection is based on the above-mentioned selection criteria, an analysis of the required documents and a visit to the entrepreneurs. It is carried out in consultation with the implementation team.

Boost Camp (3 days)

During the Boost Camp, our local partner will give a training following the needs of the entrepreneurs. During the working sessions, the entrepreneurs are supported in their thinking by European and Beninese Business Coaches, with whom they are twinned. The training focuses on understanding the business model and establishing personal links between the project leaders and the coaching teams.

The programme also includes a visit by the Business Coaches to the company they have been invited to work with.

One-on-one coaching (6-9 months)

OVO's volunteer team, with extensive experience in various fields, offers holistic support to Beninese entrepreneurs, including the support of a Business Coach and specialist experts as required.
In six to nine months, entrepreneurs, with the help of their coach, develop an optimised business model, an ambitious but realistic business plan, and a detailed financial and investment implementation plan.

4. SUBMISSION

To submit your project, fill in the google form using this link:

https://forms.office.com/e/3jUzNkebYH

Applicants must also submit the following documents:

- A brief description of the company, process, product/service, target customers, business strategy, etc.

- A few images of the company's achievements and/or installations

- Amount of financial investment required by OvO's intervention

- Preliminary business plan

- Recent presentation (pitch deck) in a Powerpoint or PDF file

- Deed of incorporation and company registration number

- Articles of association and by-laws of the company if provided for by the corporate form

- Financial statements for the last three years, accompanied by a statement from the chartered accountant at the time of presentation.

Please send us this information by e-mail: geoffroy.mele@ovo.be.