HEVA Fund is an opportunity for young Kenyans in the creative industry to receive up to sh.3 million in funding plus benefit from other forms of business support.
Kenyan entrepreneurs in the creative economy will be glad that HEVA Fund has committed to specifically support them. It has launched 2 funds and a third is in the works. These will support startups involved in “sustainable exploration” and “inclusive development” of cultural heritage.
Eligible ventures are those that fall under:
Cultural Products (fashion, costumes and textiles, jewellery and accessories, games, etc.)
Festivals (music, film, theatre, etc.)
Cultural Education (research, literature, digital platforms like blogs and vlogs, etc.)
Tangible Heritage (museums, libraries, community spaces, etc.)
The two ready funds are the Cultural Heritage Seed Fund and Young Women in Creative Enterprise Fund. They have been made possible by Heva Fund collaboration with the British Council and Goethe Institute, respectively. The third fund will be open for application in February. So, you better stick around reading this blog for the announcement.
Cultural Heritage Fund: is for individuals, groups, organizations. It is a grant/loan hybrid fund of between sh.500k and sh.3 million, to be repaid in a window of 24 months.
Young Women in Creative Enterprise Fund: is for developing competitiveness of women in the creative industry. It is a loan facility of up to sh.1 million, to be repaid in 18 months maximum. Technical assistance will also be provided by HEVA Fund.
These funds are for early-stage startups in Kenya, having clocked around 3 years of operation. The entrepreneurs should be able to avail at least 1 year of business financial records. Other tips from HEVA Fund to improve your chances should be having clear business goals and clearly demonstrating how the money willl be put to use.