TERMS OF REFERENCE FOR PROVISION OF INVESTMENT AND FINANCE CONSULTANT
The Association of Startup and SMEs Enablers of Kenya (ASSEK) is an association that brings together and represents the interests of Entrepreneur Support Organizations (ESO) that support the development and growth of startups and SMEs for maximum impact. In fostering the startup and SME enablers ecosystem in Kenya, ASSEK plays a key role in representing all the actors of the Kenyan startup and SME enablers ecosystem by actively promoting networking among its members spread out across the country. The association’s mission is to be the voice and support of startup enablers (Incubators, Accelerators,
Makerspaces, Co-working spaces, and Innovation centers) and their clients in Kenya and beyond through the advancement of innovation and entrepreneurship as a key driver of economic and social development.
The Association’s objectives are detailed below:
a) To drive policy and agenda for members of the Association with the government, development partners, investors, and other key stakeholders; to develop rigorous ecosystem standards and
b) To facilitate capacity building, professional development, networking and partnerships, compliance, and protection to its members in their efforts to develop the ecosystem and support
startups and SMEs.
c) To promote and position the Kenyan entrepreneurial ecosystem internationally by creating visibility on key innovation and startup ecosystem indicators, enhancing public awareness of the ecosystem, and increasing the discoverability of startups for support and investment.
d) To ease the sharing of information, knowledge, and best practices between the members and forge close linkages between them and other stakeholders (including but not limited to universities, research and development institutions, corporations, and business associations).
e) To actively scout for and, where necessary, facilitate member access to opportunities through collaborations and partnerships.
2. PROJECT BACKGROUND
GIZ’s AgriJobs4Youth initiative aims to create opportunities and empower young people to build their livelihoods through gainful salaried employment or self-employment in agribusiness. This is being achieved through a variety of complementary measures, ranging from creating framework conditions that foster economic and public policy participation of youth, catalyzing private sector-led job creation, promoting a performance-driven, future-oriented learning system, engaging in overcoming labor market constraints, supporting independent and self-sustaining youth organizations, as well as promoting cross country knowledge exchange. In implementing the AJ4Y, ASSEK aims to address business environment topics, strengthen institutional capacities of enterprise support organizations, promote entrepreneurship culture, and incubate promising ideas in the Agri-Food sector in select counties in Western Kenya. This will provide a strategic direction towards a long-term guide by identifying critical capacity gaps, highlighting and implementing effective and sustainable systems of support, and strengthening the existing support to the ecosystem as well as setting the foundations for collaborations amongst agri-food entities and institutions such as incubators, accelerators, financial intermediaries and regulatory bodies.
In view of this, ASSEK is looking to engage an Investment and Finance Consultant or Organization with the right skills and experience to deliver on the key activities below:
Conduct a financial and investment analysis of Western Kenya with a review of Macro and Micro Aspects of agri-food ESOs and start-ups Finance
● A collaboration framework of how ASSEK, ESOs, and startups can establish a working partnership with financial institutions and investors.
● Co-design with ASSEK a digital finance linkage program through the engagement of ESOs with relevant funding intermediaries.
● To develop a detailed catalog for various available investment and financing options for agri-food ESOs and start-ups that are categorized by the business maturity stage of the ESOs and startups.
● Develop an investor readiness toolkit and templates for ESOs and startups on the investment facilitation (investment checklist, investor readiness checklist, investment prerequisites, pitching techniques, financial modeling, and projections, etc.)
● Development of best practices for scouting for different finance options (Cold Email, Follow-up emails, setting up meetings).
● Development of case studies of successful deal closures with investors and financial institutions of Agri ESOs and startups (profiling)
● Conduct a Train the Trainer session for ESOs and stakeholders on the investment and financial landscape, the best strategies for fundraising (relevant to their investment goals), and recommendations for the sustainability of ESOs and startups.
3. EXPECTED TIMELINE AND DELIVERABLES
This consultancy is estimated to be executed within 30 working days in a span of 2-3 months; during
which the following deliverables are to be achieved:
- Inception Report
- Detailed report and summarized infographics report of the investment and financial analysis of the agriculture sector
- Well-designed finance/investment linkage program that details a clear collaboration framework of
key stakeholders with financial institutions and investors.
- Detailed and well-designed catalogue for various available investment and financing options (digital and physical copies)
- Well-curated Investor Readiness Toolkit (IRT) and Templates for ESOs and startups on investment facilitation (investment checklist, investor readiness checklist, investment prerequisites, pitching techniques, financial modeling, projections, etc.)
- Development of case studies of successful deal closures with investors and financial institutions of Agri ESOs and startups (profiling)
- Conduct 1 day Train the Trainer session for ESOs and stakeholders on the investment and financial landscape, the best strategies for fundraising (relevant to their investment goals), and recommendations for the sustainability of ESOs and startups.
4. CONSULTANT REQUIREMENTS
The candidate or the consulting firm must have the highest interpersonal skills, with an entrepreneurial attitude toward securing investment for the agribusinesses. The individual/firm must also have an in-depth understanding of the ecosystem regarding securing and closing investment facilitation and financing for agribusinesses and budding agricultural startups. The ideal consultant should have prior experience as a financial advisor or Investment manager for the startup or startup financial planner, with a proven track record.
The minimum qualifications of the assigned person(s) are listed below:
i. Experience working in the investment and Financial Management sector with startups, SMEs, and other actors in the sector to unlock financing.
o Startup Seed Fundraising, Private investment/ VC stage investing
o Impact investing and environmental, social, and governance (ESG) investing
ii. Demonstrated expertise in investor relations, deal negotiations, and providing investor readiness support to startups, SMEs, and other entrepreneurship actors
iii. An in-depth understanding of SMEs and their growth dynamics and bottle-necks to access investment and financial opportunities
iv. Solid experience working directly with donor-funded projects may include research and analysis, program design/implementation, technical/advisory support, and training.
v. Ability to generate and design visually appealing Investment infographics for startups and ESOs enablers.
vi. A good understanding of regional trade integration issues, trends, and trade competitiveness affecting startups and SMEs, with particular reference to the Agribusiness sector.
vii. Good communication and report-writing skills.
5. TECHNICAL ASSESSMENT
The application will be assessed on the following criteria:
i. Quality and relevance of the proposed methodology
ii. Description (Expertise) in relation to the attainment of deliverables outlined by this ToR
iii. Expertise and experience in relation to Investment and Financial sector.
iv. Financial Proposal
Proposals must include the following:
a. Technical approach and methodology (Not more than 8 pages)
b. The consultant(s) profile and executive brief of similar projects undertaken
c. Detailed work plan and budget
d. As Annexes, kindly include the lead consultant’s Curriculum Vitae (CV) and the sample research report undertaken
Submit your proposal to firstname.lastname@example.org with the subject line: ASSEK Investment and Financial Consultancy. The deadline for submission is 26th January 2023.
Any queries or clarifications can be directed to the same email address listed. Please note only successful
candidates will be contacted