About the instrument

AIR² acts as an investment-readiness support and grants between 150 000 and 200 000 TND. 
This financial instrument is mixed. It consists of 60% grant and 40% repayable grant.
The repayment of AIR2, free of charge, without interest and equity-free, is due only in case of effective growth of the supported startup. 
The success is evaluated on the achievement of a fund raising of type Series A (5x the amount of AIR²) or the achievement of a state of cash flow favorable to the refunding (5X the amount of AIR²).
AIR² is a very selective instrument and it will be granted only to the Startups having proved a strong potential of growth and having started a process of raising Funds Series A. 

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Eligibility criteria
  • The Startup is an existing company with a legal activity in accordance with Tunisian legislation
  • The startup has already raised a SEED fund
  • The candidate startup must not have a current AIR or AIR².
  • Co-founders must not be in different startups with an ongoing AIR or AIR² for 12 months
  • The startup has entered into serious discussions with investors for a Series A round with a clear roadmap until the Series A is raised. Have a letter of intent as justification
  • Demonstrated need for financial support
  • Startup has a clear plan for local and international expansion.
Benefits

Air² is a direct grant to SEED Startups that prepares and supports them to raise larger funds to successfully execute their scale-up and expansion plans. A Startup potentially benefiting from AIR² is a Startup that can demonstrate significant achievements and progress on its product development and market access plan. This Startup has begun a serious process of raising Series A funds. This assistance would help it reach KPIs (market access or product development) in order to facilitate the next planned fundraising.

AIR

Support the development of Proof-of-Concept (POC) for early stage startups.

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