Through our partners and seed funding from JoDEA, Cardano Development has enabled the incubation of several start-ups in partnership with public and private donor institutions.

One of Cardano Development’s primary funding sources for innovation is JoDEA. Since 2017, Cardano Development manages this incubator initiative with the aim to fund the development of innovative business ideas focused on local currency and local financial markets.

JoDEA is indirectly funded by KfW on behalf of the German Ministry for Development Cooperation (BMZ). JoDEA was instrumental in the creation of Frontclear and ILX, both of which received significant seed funding. JoDEA also supports the Frontclear Technical Assistance Programme (FTAP).

Our incubator skills we apply to our business concepts are:

  • Risk management expertise.
  • Support in mobilising funding to reach a first close.
  • Technical assistance.
  • Providing the financial administration and back office infrastructure and services through DLM Finance.

Our start-up companies

Virtuous cycle of growth

Our virtuous cycle of growth explains the different stages of incubation that CD start-ups undertake. JoDEA, assumes the highest risk during conceptualisation. Risk-capital is then required from partners and donor agencies in the start-up phase. Once business concepts have been validated, larger investors such as DFI’s join the cycle. Return on investments flow back into the pool of capital, which we use for further Innovation and developing of new business concepts.