In recent years, the German Development Cooperation has placed a special focus on supporting innovative businesses and startups in emerging and developing countries. After all, it is precisely these businesses that develop innovative solutions to local problems, create jobs, unlock potential for growth, and ultimately become role models and pillars of their societies. The COVID-19 pandemic poses an acute threat to years of hard work to establish and grow these businesses due to its economic consequences, both in the short and long term.
Comprehensive relief programmes, such as stimulus packages that exist in the well established economies, often do not exist in emerging and developing countries. Subsequently, a fast and direct response is immediately needed to provide resources, mentoring and financial support for young, innovative entrepreneurs in emerging economies.
Based on existing support programmes in Germany and their adaptation to local contexts, founders and their businesses can be supported efficiently and effectively to help them sustain their business and grow through this challenging time. The Empowering Entrepreneurship Initiative will allow us to implement a modern solution to development cooperation — one that is focused on sustained economic growth.
17.08.2020
Egypt, Jordan, Ghana, Kenya, Indonesia
