Orange Corners is pleased to announce the winners of the third OCIF subsidy round, which was open between 6 May and 17 June of this year for potential implementing partners in Bangladesh, Mali, South Sudan, Sudan, Tunisia, Burundi, Iraq proper and the Kurdistan Region of Iraq from 2024 to 2030.
About OCIF
Through the Orange Corners Innovation Fund (OCIF), we support young entrepreneurs to scale their businesses, create jobs and address local social challenges. OCIF is an extension of the Orange Corners incubation and acceleration programmes, designed to address the financing needs of young entrepreneurs in Africa, the Middle East and Southeast Asia. By providing selected local fund managers with capital, OCIF enables investments in Orange Corners entrepreneurs who are often deemed too high-risk by traditional funding sources.
Bangladesh
In Bangladesh, for OCIF we will continue to partner with the SAJIDA Foundation, our current OCIF implementing partner. For the period 2024-2030, they will team up with YY Ventures – one of our current implementing partners of the Orange Corners training programme in Bangladesh. SAJIDA Foundation is a Bangladeshi NGO currently operating in 36 districts with microfinance, health and other development initiatives, while YY Ventures supports early stage social entrepreneurs in Bangladesh with incubation and investment services.
Mali
Earlier this year we opened our new Orange Corners Mali hub, and we are very excited to be able to follow this up with OCIF investments. For OCIF Mali, we will partner with Zira Capital, ForthInvestment (Burkinabé) and Fair & Sustainable. Zira Capital is an impact fund investing in high-potential SMEs and dynamic entrepreneurs across all sectors in Mali. Their partner ForthInvestment, based in Burkina Faso, specialises in financing and supporting SMEs and business projects. Completing the consortium is Dutch consultancy company and social enterprise Fair & Sustainable Consulting.
South Sudan
Also a new addition to our network, Orange Corners South Sudan was established earlier this year. Our OCIF partner in South Sudan will be Foundation for Youth Initiatives, a non-governmental organisation formed in 2011 to provide services to unprivileged communities in South Sudan.
Sudan
In Sudan we will continue our collaboration with 249Startups and UCB, who have been implementing OCIF in Sudan since the beginning. 249Startups, also our partner for Orange Corners Sudan, is a mission-driven company that fosters and supports bright and passionate entrepreneurs and helps grow the entrepreneurship ecosystem in Sudan. United Capital Bank (UCB), one of the leading financial institutions in Sudan, is an Islamic investment and corporate bank that provides financing for major projects in Sudan.
Tunisia
In Tunisia, OCIF will be administered by Lab’ess, which is part of PULSE – one of the organisations within GROUPE SOS. Lab’ess is dedicated to supporting the nonprofit sector and fostering social entrepreneurship as a driver of inclusive and sustainable development. Lab’ess raises awareness, supports and funds individuals and organisations working for the common good through various innovative projects and programmes.
Burundi
The final new Orange Corners hub established earlier this year, in Burundi too young, ambitious entrepreneurs will have access to OCIF funding – provided by our new OCIF partner Maison de l’entrepreneur (MDE), the entrepreneurial branch of ADISCO, a Burundi-based NGO.
Iraq proper
Between 2024 and 2030, OCIF will be run in Iraq proper by Iraq Venture Partners, the first Iraq-based VC that focuses on investing behind high-potential Iraqi startups & SMEs.
Kurdistan Region of Iraq
In the Kurdistan Region of Iraq, we will continue our existing OCIF partnership with GroFin. GroFin is a specialist, impact-driven financier. Their mission is to help entrepreneurs succeed by providing them expert advice, continuous guidance and financing to grow their businesses.
Many congratulations to all the winners, we look forward to working with you for the next couple of years!
