Orange Corners Innovation Fund Mozambique
Empowering Young Mozambican Entrepreneurs by Facilitating Access to Capital and Capacity Building to Promote Growth of Innovative Business
Problems
Youth entrepreneurship in Mozambique is impeded by financial, operational, inclusivity, and ecosystem challenges. Restricted access to loans and high interest rates hinder the growth of start-ups, while gaps in financial literacy and networking skills impair business sustainability. Discrimination based on gender and origin further limit opportunities for aspiring entrepreneurs. Moreover, the entrepreneurial ecosystem in Mozambique suffers from a lack of resources and weak collaboration, which restrict start-ups from scaling and stunt overall economic development.
Solutions
To address these issues, the Orange Corners Innovation Fund (OCIF) employed a dual-track approach to provide technical and financial assistance. Track I, the incubation phase, provides young entrepreneurs with grants, cash prizes and training in financial management. This cultivates resilient entrepreneurs with start-ups that possess a minimum viable product and a clear growth direction. Track II, the acceleration phase, offers training in growth strategies, access to funding via grants and loans, and networking opportunities. This enables entrepreneurs to accelerate their business growth and develop the broader entrepreneurial ecosystem.
Impact
OCIF’s integrated approach empowers Mozambique’s youth, helping them overcome financial, operational and inclusivity barriers. By providing entrepreneurs with financial literacy, early-stage funding and networking skills, OCIF promotes sustainable business growth and broadens market reach. Moreover, by encouraging collaboration and supplying resources, OCIF aids in creating a vibrant entrepreneurial ecosystem. This leads to economic empowerment and innovation in Mozambique.
From 2021 to 2023, OCIF supported and funded 170 businesses in Track I, disbursing over €230,000 in grants and cash prizes, and aided 26 businesses in Track II, with over €95,000 in loans/grants. Internal monitoring indicates that the programme has achieved 45% and 73% of its goal to improve the skills of entrepreneurs in Track I and Track II, respectively.
Maputo, Mozambique
Team members
Timeframe
2021–2025
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