TERMS OF REFERENCE - LEGAL CONSULTANCY SERVICES FOR ANGEL INVESTOR NETWORK AND EARLY-STAGE INVESTOR IN RWANDA

1. BACKGROUND

Established in 2011, the Rwanda ICT Chamber is the leading partner for organizations to share experiences, network, and meet key players in the Rwandan ICT sector. At the ICT Chamber, we help our members to ensure they get the needed skills, opportunities, and tools to grow. The mission is to make Rwanda a leading ICT-Driven society. The vision is to be the leader in influencing the transformation of the economy and the culture through ICT.

The Rwanda ICT Chamber, partnering with the Rwanda Development Board through the Hanga Growth Program, seeks to establish Angel Investor Networks and support other early-stage tech investors in Rwanda. This initiative requires experienced legal expertise to guide the incorporation process and ensure compliance with Rwandan law.

2. PRIMARY OBJECTIVES

The objective of this tender is to secure legal expertise to support the growth of the Rwandan startup ecosystem. The selected expert will first aid in the legal incorporation of various early-stage tech investors, including angel investor networks, venture capitalists, family offices, and venture studios.  Additionally, the expert will provide essential legal support for single-deal transactions between these investors and startups operating within Rwanda. This support will likely involve the structuring and creation of the necessary legal documentation to facilitate these investment transactions.

3. SCOPE AND MODALITIES OF THE TASK

The service provider will execute this task following these three modalities:

1. Legal support for the incorporation of angel investor networks in Rwanda
2. Legal support for the incorporation of other early-stage tech investors in Rwanda. 
3. Legal support for single deal transactions: The legal expert will support in structuring legal documentation necessary for the execution of single deal transactions between investors and startups in Rwanda.  
4. KEY DELIVERABLES

The expected deliverables are the following:

• Inception report: with a comprehensive description of the firm’s strategy for sourcing and selecting early-stage tech investors to be supported. 
• Legal support plan (one per investor supported): These reports should include an assessment of the needs of each investor to be supported to inform the design of the legal support plan. The plan must include the details of the activities and support to be provided, the experts and partner organizations that will work with the investor, and a schedule for the implementation of activities. 
• Progress report (one per investor supported): The report should include a list of all activities performed during the period, services provided, and any challenges encountered. The firm should propose a reporting frequency in their proposal. 
• End of services report (one per investor supported): These reports should include a detailed list of all activities performed, difficulties encountered, and an assessment of potential future legal needs of the investor. 

5. TIMELINE

This assignment is expected to be delivered for a duration not exceeding 6 months. Each firm may propose a duration for the assignment. 

6. LOCATION 

The firm must be available to work in Rwanda for the duration of the assignment. 

7. REQUIRED EXPERIENCE AND QUALIFICATIONS

The ideal firm should meet the following qualifications and attributes:

• Have a valid license to provide legal advisory services in Rwanda. 
• Demonstrate a proven track record of supporting at least one or multiple firms in the incorporation process, advisory, compliance, or similar tasks.
• Demonstrate previous experience supporting tech companies, startups, and investment entities are strongly encouraged to apply.
• Possess full in-house capacity to complete this task without further outsourcing of complimentary services.

8. REPORTING AND COOPERATION

The service provider must submit all reports to the Rwanda ICT Chamber and will also be expected to provide updates to other key stakeholders of the Hanga Growth Program (MINICT and RDB) on a regular basis. 

9. PAYMENT SCHEDULE 

Payment for services will be made according to the satisfactory completion of deliverables, as determined by the Rwanda ICT Chamber. Each firm may propose an adequate structure of payments in their financial proposal, considering that payments must be based on services delivered. 

10.  APPLICATION PROCESS

Interested firms should submit technical and financial proposals in line with the proposed activities and deliverables. The deadline, to submit applications is March 25, 2024, to the following email: procurement@ict.rw. For any inquiries, please contact the program manager at magnifique@ict.rw