Funding Pitch Day
Karandaaz Pakistan, with funding from the Bill & Melinda Gates Foundation (BMGF) and the UK’s Department for International Development (DFID), seeks to support solutions that foster financial inclusion of women in Pakistan.
Karandaaz is inviting proposals for gender-smart, women-centric financial products and services that reflect the needs and preferences of female customers in the financial services marketplace.
The goal of the Financial Inclusion of Women (FIW) Challenge is to provide financial service providers, FinTechs, research and advisory firms, and other relevant market players an opportunity to pilot and test, or scale interventions that account for the different female market segments, needs and preferences of women, and the bottlenecks to their inclusion.
The proposed solutions may be in any area that facilitates women’s financial inclusion, including but not limited to issues around:
Both digital and non-digital financial solutions are welcome.
Note: While preference will be given to applicants who can demonstrate that they have already started developing or testing a women-centric product or service, the challenge is open to applicants at the ideation or pre-revenue stage, as long as they can clearly articulate the value proposition of their proposed solution
The applicants must be registered in Pakistan. This program is not open to individuals.
Funding Pitch Day
1) If selected, applicants must commit to:
2) Submission of an application does not guarantee selection for any part of the program or funding.
3) The applicant will be selected for the program at the sole discretion of Karandaaz and its partners.
4) Karandaaz retains the right to accept or reject any application without providing a reason.
5) Karandaaz retains the right to negotiate the budget proposed by the applicant and rationalize it in consultation with the applicant.
6) Invitation to pitch for funding will be made at the sole discretion of Karandaaz. Decisions of Karandaaz judges will be considered final and will not be open to contestation.
The challenge is open for all market players operating in the financial inclusion space that are registered in Pakistan, including but not limited to:
The applicant must apply as part of a firm, and not as an individual.
While preference will be given to applicants who can demonstrate that they have already started developing or testing a women-centric product or service, the challenge is open to applicants at the ideation stage. However, the applicant must be able to clearly articulate the value proposition of the proposed solution.
Yes! We are looking for both tech-based and non-tech solutions that account for the different female market segments, address the needs and preferences of women, and/or address bottlenecks to their inclusion.
The proposed solutions may be in any area that facilitates women’s financial inclusion, including but not limited to issues around credit, savings, payments, mobile wallets, block chain, alternative credit, e-commerce, insurance, remittances and pensions.
The challenge is targeting products, services and viable financial solutions, and is not open to research projects.
Through this challenge, Karandaaz seeks to help applicants develop, refine and scale ways to reduce the gender gap in financial inclusion.
Applicants’ proposed solutions are expected to lead to (any one, few or all) of the following outcomes:
You will only need to fill out an online application form
Applicants will receive milestone based grant and HCD based ideation.
If selected, you will commit to:
1) Measuring direct users and beneficiaries, as well as indirect beneficiaries of project
2) Participating in lesson learning and experience sharing activities for internal and public audiences
3) Providing a demonstration of the product or service, with prior notice from Karandaaz
4) Participating in Karandaaz’s annual review process
There is no fee for participation.
Submission of applications does not guarantee selection for the programme. Karandaaz retains the right to reject applications without providing any reason. Decisions made by Karandaaz or its appointees at all stages of the selection and financial award process will be considered final and will not be contestable.